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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. The original amount of money deposited or invested.






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






3. Money earned from investments and employment.






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






5. 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.






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






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






8. A plastic card used to deduct a purchase amount directly from your checking account.






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






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






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






12. 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.






13. The percentage rate of interest charged to the borrower or paid to a lender & saver & or investor.






14. A plan for managing money & dividing up expected income and expenses among spending and saving options based on personal goals during a given time period.






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






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






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






18. 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.






19. Someone who knowingly deceives you for their own personal gain.






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






21. The chance or likelihood that something will happen.






22. A state of being legally released from the obligation to repay some or all debt in exchange for the forced loss of certain assets.






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






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






25. 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.






26. A person or company to whom money is owed.






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






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






29. 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.






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






31. Money earned from investments and employment.






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






33. A person or company to whom money is owed.






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






35. A purposeful course of action or purpose in life that generally provides income






36. 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.






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






38. The costs of goods and services & including those that are FIXED (rent & car loans) and those that are VARIABLE (food & clothing & entertainment).






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






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






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






42. A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement & such as a property owner and tenant.






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






44. A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest & according to a specific schedule.






45. Someone who knowingly deceives you for their own personal gain.






46. Anything subtracted from your gross income.






47. A state of being legally released from the obligation to repay some or all debt in exchange for the forced loss of certain assets.






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






49. A plastic card used to deduct a purchase amount directly from your checking account.






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