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. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






2. 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.






3. Newspapers list of securities






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






5. The date on which the borrowed money must be repaid






6. Expenses that aren't paid every month and can be either fixed or variable.






7. 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.'






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






9. Debt obligations of corporations






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






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






12. The credit union term for a checking account.






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






14. Collection of investments






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






16. People trained to give investment advise based on your goals & age & lifestyle & etc






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






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






19. Investment choices that will be held for long periods






20. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






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






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






23. The setting aside of money for future use or other investments






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






25. The chance that inflation will rise faster than the rate of return on an investment






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






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






28. Associated with owning stock of similar groups of businesses






29. Property consisting of houses and land






30. A formal contract to repay borrowed money with interest at fixed intervals






31. Companies that provide extensive financial data to clients






32. Bonds designed for investors wanting to protect again inflation losses






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






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






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






36. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.






37. Investors who are afraid to make investments






38. The credit union term for a savings account.






39. The amount of money someone is willing to loan you.






40. Expenses that are not fixed.






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






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






43. Contacts to buy and sell commodities or stocks for a specific price on a specific date






44. A certificate documenting the shareholder's ownership in the corporation






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






46. Earning interest on interest.






47. Brokers who provided little or no information to clients






48. The amount a corporation pays at a fixed amount when repaying a bond






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






50. Business Weekly & Forbes & Money