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. Companies that provide extensive financial data to clients






2. Associated with owning stock of similar groups of businesses






3. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






4. Merrill Lynch & Fidelity Investments & American Express






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






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






7. The credit union term for a checking account.






8. A government sector that requires all public corporations to make annual reports available to their stockholders






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






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






11. Standard and Poor's and Moody's






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






13. 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.






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






15. Standard and Poor's and Moody's






16. US treasury security that matures in 30 years






17. 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.






18. Bold and high-risk investments






19. A general and progressive increase in prices






20. Low-priced stocks of small companies that have no track record






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






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






23. The amount a corporation borrowed in a bond situation






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






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






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






27. Associated with owning stock of only one company






28. Newspapers list of securities






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






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






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






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






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






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






35. 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.'






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






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






38. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.






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






40. Expenses that are not fixed.






41. Another term for budget






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






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






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






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






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






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






48. 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.






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






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