Test your basic knowledge |

Financial Literacy Basics

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.






2. Coins & art & memorabilia or other items that are popular from time to time






3. Charles Schwab & TD Ameritrade & E*TRADE






4. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






5. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






6. Brokers who provide clients with analysis and opinions






7. Property consisting of houses and land






8. A technique used for estimating the number of years required to double your money at a given rate






9. The maximum amount an insurance company will pay if you file a claim.






10. Regular and planned investments






11. The willingness to give up something you want now in return for something better in the future.






12. A payroll deduction collected by employers by law and sent to the state government to support state services.






13. A general and progressive increase in prices






14. US treasury security that matures in 2 & 5 & or 10 years






15. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






16. Management of investment alternatives to maximize the growth of your portfolio






17. Debt obligations of state or local governments






18. The belief - qualities - or standards that you consider important or desirable.






19. Spreading risk among many types of investments; one way to minimize risk






20. The portion of the profits paid to the shareholders of a company.






21. Things that add comfort and pleasure to your life but you can live without if you need to.






22. Reducing investment risk by putting money in several different types of investments.






23. Another term for budget






24. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






25. Things that add comfort and pleasure to your life but you can live without if you need to.






26. A clause included in many credit card company agreements that allows a credit card company to increase your interest rate if you make just one late payment.






27. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






28. Wall Street Journal and Barron's






29. The chance that an investment's value will decrease






30. Earning interest on interest.






31. The unique passcode number you use to get access to your savings and/or checking account






32. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






33. A technique used for estimating the number of years required to double your money at a given rate






34. Debt obligations of corporations






35. Brokers who provided little or no information to clients






36. The profit from an investment.






37. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






38. Wall Street Journal and Barron's






39. Summary of a corporation's financial condition






40. Earning interest on interest.






41. Fee on credit card for making charges above your credit limit.






42. US treasury security that matures in 30 years






43. A unit of ownership in a corporation






44. A term that describes investments on which earnings are not taxed until retirement






45. Actions that the government might take that would reduce the value of an investment






46. The probability that injury - damage - or loss will occur.






47. Smaller decisions that can result from a major decision.






48. Pooling of money from many investors to buy a large & diverse selection of securities






49. A bank account against which the depositor can draw checks payable on demand.






50. Newspapers list of securities