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Test your basic knowledge |
Financial Literacy Basics
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Subjects
:
literacy
,
personal-finance
Instructions:
Answer 50 questions in 15 minutes.
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study here
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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. Collection of investments
portfolio
well-known investor services
annuities
Rule of 72
2. 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.
mutual funds
universal default
budget
interest-rate risk
3. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
systematic investing
universal default
compounding interest rate
credit score
4. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
over-the-limit fee
opportunity cost
wants
bank
5. The process of dealing with the chance of a potential personal or financial loss.
options
risk management
coverage limit
diversification
6. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
credit
risk taker
interest
penny stocks
7. A general and progressive increase in prices
stock market
maturity date
inflation
initial investing
8. Wall Street Journal and Barron's
diversification
annual fee
well-known financial newspapers
annual report
9. Earning interest on interest.
variable expenses
compounding interest rate
rate of return
inflation
10. Conservative investing; used when you have 'excess' savings
financial advisers
spending plan
initial investing
US Treasury Bonds
11. Low-priced stocks of small companies that have no track record
penny stocks
Rule of 72
futures
full-service broker
12. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
Series I Savings Bond
risk taker
Series EE Savings Bond
values
13. A payroll deduction collected by employers by law and sent to the state government to support state services.
state income tax
stock
phishing
risk taker
14. Brokers who provided little or no information to clients
bank
coverage limit
discount brokers
Securities and Exchange Commission
15. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.
portfolio
Rule of 72
credit history
opportunity cost
16. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.
phishing
US Treasury Bills
non-market risk
Rule of 72
17. Amount of money that is set aside for future purchases
grace period
well-known discount brokers
savings
grace period
18. Bold and high-risk investments
US Treasury Notes
speculative investments
share account
financial advisers
19. A summary of a person's borrowing and repayment history.
real estate
spyware
credit history
stock market
20. The credit union term for a checking account.
risk management
speculative investments
share draft account
full-service broker
21. Investment choices that will be re-evaluated within a year or less
investing risk
industry risk
Temporary investment
values
22. Low-priced stocks of small companies that have no track record
cash flow
Series I Savings Bond
penny stocks
stock
23. Reducing investment risk by putting money in several different types of investments.
diversification
satellite decisions
US Treasury Notes
market risk
24. Investors who are afraid to make investments
risk averse
initial investing
speculative investments
risk management
25. Standard and Poor's and Moody's
spyware
well-known investor services
over-the-limit fee
variable expenses
26. A detailed record of your personal credit and financial transactions.
diversification
ATM - Automatic Teller Machine
credit report
short term goal
27. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
credit score
state income tax
delayed gratification
budget
28. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
interest
Securities and Exchange Commission
full-service broker
deductible
29. A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly - disabled Americans - and orphaned minors.
investor services
annuities
social security tax
well-known discount brokers
30. The belief - qualities - or standards that you consider important or desirable.
origination fee
checking account
values
dollar cost average
31. The probability that injury - damage - or loss will occur.
credit score
diversification
risk
spyware
32. Debt obligations of state or local governments
rate of return
municipal bonds
short term goal
pay yourself first - P.Y.F.
33. Investors who take to take chances
options
risk taker
Series I Savings Bond
annual report
34. Contacts to buy and sell commodities or stocks for a specific price on a specific date
ATM - Automatic Teller Machine
futures
chapter 7
principal
35. US treasury security that matures in 30 years
rate of return
debit card
US Treasury Bonds
spyware
36. Expenses that are not fixed.
variable expenses
dividend
rate of return
Personal Identification Number - PIN
37. Business Weekly & Forbes & Money
debit card
well-know full-service brokers
well-know financial magazines
real estate
38. The amount a corporation pays at a fixed amount when repaying a bond
budget
APR - Average Percentage Rate
savings account
interest
39. Merrill Lynch & Fidelity Investments & American Express
stock market
well-know full-service brokers
risk taker
deductible
40. Business Weekly & Forbes & Money
Rule of 72
well-know financial magazines
financial pages
social security tax
41. The portion of the profits paid to the shareholders of a company.
discount brokers
APR - Average Percentage Rate
dividend
investing risk
42. A goal to be achieved within the next three months.
over-the-limit fee
tax deferred
short term goal
annuities
43. The belief - qualities - or standards that you consider important or desirable.
interest
values
rate of return
capital loss
44. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
systematic investing
Series EE Savings Bond
Rule of 72
values
45. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
collectibles
grace period
delayed gratification
corporate bonds
46. Smaller decisions that can result from a major decision.
put-and-take account
satellite decisions
diversification
short term goal
47. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
chapter 7
credit report
capital gain
credit union
48. The unique passcode number you use to get access to your savings and/or checking account
maturity date
origination fee
Personal Identification Number - PIN
real estate
49. Expenses that aren't paid every month and can be either fixed or variable.
US Treasury Bills
capital gain
corporate bonds
periodic or occasional expenses
50. The value of What is given up when you choose one option over another.
opportunity cost
municipal bonds
industry risk
Personal Identification Number - PIN
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