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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
Subjects
:
literacy
,
personal-finance
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. People trained to give investment advise based on your goals & age & lifestyle & etc
chapter 13
municipal bonds
financial advisers
annual report
2. Debt obligations of corporations
corporate bonds
financial pages
dividend
non-market risk
3. A form of bankruptcy that allows you to erase most of your debt.
career
chapter 7
principal
market risk
4. A technique used for estimating the number of years required to double your money at a given rate
risk management
Rule of 72
deductible
dividend
5. Property consisting of houses and land
real estate
checking account
Rule of 72
bank
6. A legal process to get out of debt when you can no longer make all your required payments.
capital gain
bankruptcy
variable expenses
put-and-take account
7. Bonds designed for investors wanting to protect again inflation losses
Series I Savings Bond
collectibles
principal
mutual funds
8. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
origination fee
well-known investor services
savings account
annual report
9. Movement of money you receive and the money you spend
cash flow
corporate bonds
penny stocks
Personal Identification Number - PIN
10. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
diversification
dollar cost average
initial investing
well-know financial magazines
11. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
discount brokers
put-and-take account
speculative investments
Series I Savings Bond
12. Newspapers list of securities
periodic or occasional expenses
well-known discount brokers
spending plan
financial pages
13. A formal contract to repay borrowed money with interest at fixed intervals
budget
bond
spyware
Rule of 72
14. A chosen pursuit - profession - or occupation
put-and-take account
career
US Treasury Notes
checking account
15. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
periodic or occasional expenses
deductible
career
time value of money
16. Associated with owning stock of similar groups of businesses
speculative investments
penny stocks
industry risk
penny stocks
17. 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.'
debit card
penny stocks
Series EE Savings Bond
stock market
18. A formal contract to repay borrowed money with interest at fixed intervals
bond
collectibles
Temporary investment
compounding interest rate
19. Standard and Poor's and Moody's
origination fee
well-known investor services
pay yourself first - P.Y.F.
well-known financial newspapers
20. 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.
savings account
permanent investment
APR - Average Percentage Rate
Personal Identification Number - PIN
21. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
dividend
APR - Average Percentage Rate
credit score
initial investing
22. An investment security that is actually a diversified portfolio of equities - bonds or other securities. Investors purchase shares and can sell them at any time.
credit history
grace period
real estate
mutual fund
23. A unit of ownership in a corporation
deductible
debit card
stocks
delayed gratification
24. The credit union term for a checking account.
maturity date
discount brokers
time value of money
share draft account
25. A detailed record of your personal credit and financial transactions.
investor services
credit report
variable expenses
opportunity cost
26. The amount of money someone is willing to loan you.
maturity date
principal
well-know financial magazines
maturity date
27. The amount a corporation borrowed in a bond situation
well-known investor services
pay yourself first - P.Y.F.
state income tax
principal
28. Investors who are afraid to make investments
delayed gratification
Investing
yield
risk averse
29. Coins & art & memorabilia or other items that are popular from time to time
social security tax
collectibles
principal
credit history
30. A summary of a person's borrowing and repayment history.
Rule of 72
chapter 7
credit history
dividend
31. Conservative investing; used when you have 'excess' savings
Investing
savings
initial investing
bank
32. Newspapers list of securities
cash flow
stock
financial pages
share draft account
33. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
bankruptcy
financial advisers
delayed gratification
deductible
34. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
credit union
credit report
capital loss
investor services
35. Spreading risk among many types of investments; one way to minimize risk
diversification
bankruptcy
rate of return
futures
36. Associated with owning stock of only one company
initial investing
values
company risk
Personal Identification Number - PIN
37. Maximum amount of credit a lender will extend to a customer.
bankruptcy
maturity date
municipal bonds
credit limit
38. The use of long-term savings to earn a financial return
financial advisers
industry risk
over-the-limit fee
Investing
39. Investors who take to take chances
spending plan
risk taker
strategic investing
collectibles
40. The date on which the borrowed money must be repaid
Rule of 72
maturity date
annuities
stock market
41. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
put-and-take account
debit card
real estate
credit
42. 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.
universal default
values
company risk
options
43. A government sector that requires all public corporations to make annual reports available to their stockholders
well-known investor services
principal
permanent investment
Securities and Exchange Commission
44. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
credit history
debit card
credit
career
45. A spending plan for managing money during a given period of time.
put-and-take account
financial pages
credit report
budget
46. A term that describes investments on which earnings are not taxed until retirement
savings account
Temporary investment
company risk
tax deferred
47. Collection of investments
bank
political risk
spyware
portfolio
48. Brokers who provide clients with analysis and opinions
phishing
initial investing
well-know financial magazines
full-service broker
49. Summary of a corporation's financial condition
annual report
well-know financial magazines
well-known financial newspapers
investing risk
50. The profit from an investment.
speculative investments
yield
diversification
annual fee