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Financial Literacy Vocab

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. A financial institution deposit account that pays interest and allows withdrawals. (SHORT term goals)






2. Anything subtracted from your gross income.






3. One may hack into your computer or another computer system & including schools & credit card companies & and other places maintaining personal info.






4. An account in which an individual may set aside earned income in a tax-deferred savings plan for his or her retirement.






5. A non-cash contribution to a charitable organization which can be given a cash value.






6. A set of principles or beliefs that govern an individual's actions.






7. Anything subtracted from your gross income.






8. A measure of creditworthiness based on an analysis of the consumer's financial history & often computed as a numerical score & using the FICO or other scoring systems to analyze the consumer's credit.






9. A set of principles or beliefs that govern an individual's actions.






10. A retirement plan that allows employees in private companies to make contributions of pre-tax dollars to a company pool that is then invested in stocks & bonds & or money markets.






11. A state or federally chartered & not-for-profit financial cooperative that provides financial services to its member-owners who have met specific requirements.






12. Payment for the use of someone else's money






13. An official record of a borrower's credit history & including such information as the amount and type of credit used & outstanding balances & and any delinquencies & bankruptcies & or tax liens.






14. A person who pays rent; the legal name for a renter.






15. Expenditures that are the same from week to week or month to month; such as mortgage or rent or car payments.






16. A measure of the uncertainty of an investment's rate of return; possible losses.






17. A loan to finance the purchase of real estate & usually with specified payment periods and interest rates.






18. Expenditures that change from week to week or month to month-- food & clothing & recreation & entertainment.






19. A person who owns property and rents it to another.






20. A statement about What a person wants to be & do & or have & accomplished by taking certain steps; provides direction to a plan of action.






21. A system of values and principles of conduct that promotes good customs and virtues while condemning bad customs and vices.






22. An official record of a borrower's credit history & including such information as the amount and type of credit used & outstanding balances & and any delinquencies & bankruptcies & or tax liens.






23. Costs paid when buying a house or real estate.






24. Federal government program & financed by deductions from wages that pays for certain health care expenses for older citizens.






25. The act of giving to charitable organizations or to those in need.






26. The original amount of money deposited or invested.






27. Dollar amount or percentage of a loss that is not insured & as specified in an insurance policy.






28. Services offered by organizations that help consumers find a way to repay debts through careful budgeting and management of funds.






29. A person who pays rent; the legal name for a renter.






30. The length of time & in years that it takes an amount of money saved to double when it receives compound interest. This length of time can be found by dividing the interest rate into 72.






31. An establishment that collects and distributes credit history info. of individuals & business.






32. Using a person's name or personal information without the person's permission to steal money or get other benefit.






33. Using a person's name or personal information without the person's permission to steal money or get other benefit.






34. The chance or likelihood that something will happen.






35. Someone who rummages through your trash looking for bills or other paper with your personal information on it.






36. The chance that an investment has been misrepresented.






37. The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals & and funds for investing.






38. A written legal document directing a bank or credit union to pay a person or business a specific sum of money.






39. The chance that an investment has been misrepresented.






40. Expenditures that are the same from week to week or month to month; such as mortgage or rent or car payments.






41. A company that makes loans for the purchase of a house or other real estate.






42. The process used to determine What an individual wants to be & do or have (What a person wants to accomplish).






43. Wages or salary before deductions for taxes and other purposes.






44. An establishment that collects and distributes credit history info. of individuals & business.






45. Money earned from investments and employment.






46. A system of values and principles of conduct that promotes good customs and virtues while condemning bad customs and vices.






47. A bank or credit union account that allows withdrawals by writing a check.






48. Taking risks with personal finances or personal assets






49. Expenditures that change from week to week or month to month-- food & clothing & recreation & entertainment.






50. A financial institution deposit account that pays interest and allows withdrawals. (SHORT term goals)