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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. Bonds designed for investors wanting to protect again inflation losses






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






3. Summary of a corporation's financial condition






4. Another term for budget






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






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






7. Expenses that are not fixed.






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






9. Business Weekly & Forbes & Money






10. Maximum amount of credit a lender will extend to a customer.






11. A legal process to get out of debt when you can no longer make all your required payments.






12. The credit union term for a savings account.






13. Losses in an investment as a result of the business cycle






14. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






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






16. A form of bankruptcy that allows you to erase most of your debt.






17. Wall Street Journal and Barron's






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






19. US treasury security that matures from a few days to one year






20. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






21. The total amount of what it costs you to use credit in a given year. It is expressed as a percentage of the amount borrowed.






22. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






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






24. Uncontrollable and unpredictable events that cause an investment to lose value






25. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.






26. Investing with a series of regular payments; usually associated with life insurance companies






27. Investment choices that will be held for long periods






28. A goal to be achieved within the next three months.






29. A bad side effect of free downloads that may be used to send you pop-up ads - redirect your computer to unwanted Web sites - monitor your Internet surfing - or record your keystrokes in an effort to steal your identity.






30. A detailed record of your personal credit and financial transactions.






31. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






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






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






34. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






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






36. A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called 'check card.'






37. A spending plan for managing money during a given period of time.






38. Investment choices that will be re-evaluated within a year or less






39. Debt obligations of corporations






40. The increase or decrease in the original purchase price of an investment over a period of time.






41. Associated with owning stock of only one company






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






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






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






45. A summary of a person's borrowing and repayment history.






46. Brokers who provide clients with analysis and opinions






47. 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.






48. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






49. An amount that credit card companies can charge for the use of a credit card.






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







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Can you answer 50 questions in 15 minutes?


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