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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
share draft account
state income tax
stock market
financial advisers
2. Bold and high-risk investments
well-known financial newspapers
penny stocks
non-market risk
speculative investments
3. 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.
Temporary investment
capital gain
universal default
well-known financial newspapers
4. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
risk management
bankruptcy
origination fee
annual fee
5. Summary of a corporation's financial condition
maturity date
savings account
full-service broker
annual report
6. A term that describes investments on which earnings are not taxed until retirement
well-known discount brokers
inflation
tax deferred
annuities
7. A unit of ownership in a corporation
stock market
stocks
collectibles
career
8. The credit union term for a checking account.
share draft account
share account
interest-rate risk
credit report
9. Collection of investments
bankruptcy
principal
portfolio
full-service broker
10. Investing with a series of regular payments; usually associated with life insurance companies
financial advisers
annuities
annual report
mutual fund
11. A formal contract to repay borrowed money with interest at fixed intervals
credit history
bond
inflation
social security tax
12. A payroll deduction collected by employers by law and sent to the state government to support state services.
political risk
risk
options
state income tax
13. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
grace period
investing risk
credit score
put-and-take account
14. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
annual report
capital gain
speculative investments
credit
15. Contacts to buy and sell commodities or stocks for a specific price on a specific date
tax deferred
futures
risk
market risk
16. A legal process to get out of debt when you can no longer make all your required payments.
phishing
bankruptcy
satellite decisions
stock market
17. 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.
state income tax
corporate bonds
portfolio
social security tax
18. The entire amount of money you owe to lenders
social security tax
corporate bonds
debt
checking account
19. The date on which the borrowed money must be repaid
well-know full-service brokers
financial pages
penny stocks
maturity date
20. A government sector that requires all public corporations to make annual reports available to their stockholders
annual fee
Securities and Exchange Commission
Rule of 72
US Treasury Bills
21. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
ATM - Automatic Teller Machine
credit union
strategic investing
coverage limit
22. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
company risk
Personal Identification Number - PIN
grace period
cash flow
23. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
share account
put-and-take account
risk
political risk
24. The profit from an investment.
yield
futures
social security tax
state income tax
25. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
futures
capital gain
well-known discount brokers
tax deferred
26. Earning interest on interest.
compounding interest rate
market risk
political risk
Rule of 72
27. Actions that the government might take that would reduce the value of an investment
inflation
social security tax
pay yourself first - P.Y.F.
political risk
28. Associated with owning stock of similar groups of businesses
industry risk
annual fee
phishing
yield
29. An amount that credit card companies can charge for the use of a credit card.
annual fee
short term goal
social security tax
interest-rate risk
30. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
futures
risk taker
credit union
phishing
31. The amount a corporation borrowed in a bond situation
ATM - Automatic Teller Machine
well-know full-service brokers
principal
values
32. Investing with a series of regular payments; usually associated with life insurance companies
well-know full-service brokers
delayed gratification
annuities
company risk
33. Expenses that aren't paid every month and can be either fixed or variable.
credit score
periodic or occasional expenses
credit score
yield
34. Bonds designed for investors wanting to protect again inflation losses
Series I Savings Bond
periodic or occasional expenses
stock
APR - Average Percentage Rate
35. Merrill Lynch & Fidelity Investments & American Express
Securities and Exchange Commission
well-know full-service brokers
career
maturity date
36. The belief - qualities - or standards that you consider important or desirable.
maturity date
values
interest
Series I Savings Bond
37. Summary of a corporation's financial condition
collectibles
deductible
annual report
spyware
38. Losses in an investment as a result of the business cycle
market risk
credit union
investor services
pay yourself first - P.Y.F.
39. Spreading risk among many types of investments; one way to minimize risk
futures
diversification
annual fee
debt
40. The increase or decrease in the original purchase price of an investment over a period of time.
universal default
rate of return
Temporary investment
principal
41. Brokers who provided little or no information to clients
discount brokers
US Treasury Notes
debt
spyware
42. Investment choices that will be held for long periods
US Treasury Bills
permanent investment
put-and-take account
systematic investing
43. Companies that provide extensive financial data to clients
systematic investing
grace period
universal default
investor services
44. A certificate documenting the shareholder's ownership in the corporation
stock
debt
full-service broker
diversification
45. US treasury security that matures from a few days to one year
Series EE Savings Bond
career
dividend
US Treasury Bills
46. Expenses that are not fixed.
mutual funds
variable expenses
maturity date
Investing
47. 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.
collectibles
dollar cost average
universal default
corporate bonds
48. Brokers who provide clients with analysis and opinions
full-service broker
discount brokers
savings
strategic investing
49. Expenses that are not fixed.
strategic investing
stock
opportunity cost
variable expenses
50. The date on which the borrowed money must be repaid
interest
credit
capital loss
maturity date