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Test your basic knowledge |
Financial Literacy Basics
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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. Expenses that are not fixed.
interest
variable expenses
social security tax
savings account
2. Brokers who provide clients with analysis and opinions
time value of money
discount brokers
values
full-service broker
3. The setting aside of money for future use or other investments
career
pay yourself first - P.Y.F.
stocks
share draft account
4. 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.
capital loss
mutual fund
deductible
principal
5. The belief - qualities - or standards that you consider important or desirable.
variable expenses
values
discount brokers
options
6. The amount of money someone is willing to loan you.
principal
diversification
risk
grace period
7. A legal process to get out of debt when you can no longer make all your required payments.
bankruptcy
penny stocks
mutual funds
grace period
8. The use of long-term savings to earn a financial return
Investing
annual fee
stocks
tax deferred
9. The credit union term for a checking account.
Investing
financial advisers
share draft account
risk averse
10. Coins & art & memorabilia or other items that are popular from time to time
stock market
bank
deductible
collectibles
11. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
inflation
options
Rule of 72
Securities and Exchange Commission
12. Companies that provide extensive financial data to clients
investor services
US Treasury Notes
well-known investor services
cash flow
13. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
opportunity cost
variable expenses
credit
ATM - Automatic Teller Machine
14. The amount of money someone is willing to loan you.
compounding interest rate
phishing
principal
US Treasury Bonds
15. Another term for budget
rate of return
principal
spending plan
universal default
16. US treasury security that matures in 30 years
US Treasury Bonds
satellite decisions
Series I Savings Bond
Temporary investment
17. Companies that provide extensive financial data to clients
Personal Identification Number - PIN
investor services
stock
risk taker
18. The amount a corporation borrowed in a bond situation
universal default
rate of return
Securities and Exchange Commission
principal
19. The belief - qualities - or standards that you consider important or desirable.
grace period
pay yourself first - P.Y.F.
values
Rule of 72
20. Wall Street Journal and Barron's
options
risk management
well-known financial newspapers
penny stocks
21. The willingness to give up something you want now in return for something better in the future.
strategic investing
delayed gratification
variable expenses
non-market risk
22. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
credit limit
deductible
investor services
inflation
23. Investors who are afraid to make investments
origination fee
risk averse
deductible
permanent investment
24. Summary of a corporation's financial condition
annual report
investing risk
Rule of 72
well-know full-service brokers
25. The profit from an investment.
US Treasury Notes
annual report
yield
spending plan
26. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
credit union
opportunity cost
futures
savings account
27. Investing with a series of regular payments; usually associated with life insurance companies
futures
coverage limit
US Treasury Bills
annuities
28. The increase or decrease in the original purchase price of an investment over a period of time.
diversification
stocks
well-known discount brokers
rate of return
29. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
variable expenses
Temporary investment
well-know financial magazines
30. The place where stocks are bought and sold.
delayed gratification
stock market
well-know full-service brokers
annual report
31. 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.
budget
pay yourself first - P.Y.F.
checking account
universal default
32. Spreading risk among many types of investments; one way to minimize risk
initial investing
investing risk
futures
diversification
33. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
credit union
US Treasury Notes
dollar cost average
real estate
34. Conservative investing; used when you have 'excess' savings
credit score
investing risk
initial investing
cash flow
35. The process of dealing with the chance of a potential personal or financial loss.
values
rate of return
risk management
credit
36. Movement of money you receive and the money you spend
periodic or occasional expenses
strategic investing
risk taker
cash flow
37. The portion of the profits paid to the shareholders of a company.
APR - Average Percentage Rate
dividend
career
yield
38. 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.
APR - Average Percentage Rate
company risk
Series I Savings Bond
compounding interest rate
39. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.
savings account
well-known discount brokers
US Treasury Bills
stock market
40. Spreading risk among many types of investments; one way to minimize risk
diversification
share draft account
US Treasury Notes
risk
41. Uncontrollable and unpredictable events that cause an investment to lose value
wants
annual fee
non-market risk
municipal bonds
42. The willingness to give up something you want now in return for something better in the future.
debit card
futures
bank
delayed gratification
43. The chance that inflation will rise faster than the rate of return on an investment
systematic investing
stocks
interest-rate risk
chapter 7
44. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
satellite decisions
periodic or occasional expenses
Series I Savings Bond
Series EE Savings Bond
45. 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.
industry risk
systematic investing
delayed gratification
Rule of 72
46. Losses in an investment as a result of the business cycle
risk averse
inflation
market risk
interest-rate risk
47. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
origination fee
well-known investor services
credit score
time value of money
48. Brokers who provide clients with analysis and opinions
debt
Temporary investment
dollar cost average
full-service broker
49. The value of What is given up when you choose one option over another.
chapter 13
opportunity cost
bond
phishing
50. A unit of ownership in a corporation
stocks
wants
bank
universal default
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