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Test your basic knowledge |
Financial Literacy Basics
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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. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
wants
short term goal
origination fee
options
2. Companies that provide extensive financial data to clients
time value of money
investor services
opportunity cost
investing risk
3. Standard and Poor's and Moody's
credit limit
well-known investor services
collectibles
delayed gratification
4. Losses in an investment as a result of the business cycle
risk taker
market risk
US Treasury Bonds
phishing
5. Business Weekly & Forbes & Money
credit
well-know financial magazines
credit score
budget
6. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
stock market
share draft account
diversification
credit
7. Bold and high-risk investments
speculative investments
investor services
social security tax
stocks
8. A unit of ownership in a corporation
stocks
discount brokers
capital gain
capital loss
9. Brokers who provide clients with analysis and opinions
diversification
grace period
full-service broker
Series EE Savings Bond
10. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
career
chapter 13
time value of money
market risk
11. The increase or decrease in the original purchase price of an investment over a period of time.
rate of return
dollar cost average
bond
capital gain
12. Movement of money you receive and the money you spend
savings account
cash flow
real estate
capital loss
13. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
time value of money
phishing
well-known investor services
put-and-take account
14. Property consisting of houses and land
real estate
interest-rate risk
share account
stock market
15. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
opportunity cost
put-and-take account
state income tax
well-known investor services
16. Expenses that are not fixed.
rate of return
real estate
variable expenses
grace period
17. The entire amount of money you owe to lenders
origination fee
debt
interest-rate risk
compounding interest rate
18. The chance that an investment's value will decrease
debt
maturity date
chapter 7
investing risk
19. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
Securities and Exchange Commission
well-known investor services
financial advisers
bank
20. Associated with owning stock of similar groups of businesses
APR - Average Percentage Rate
interest
industry risk
ATM - Automatic Teller Machine
21. A certificate documenting the shareholder's ownership in the corporation
permanent investment
capital loss
well-know financial magazines
stock
22. The amount a corporation borrowed in a bond situation
municipal bonds
spending plan
coverage limit
principal
23. Expenses that are not fixed.
Rule of 72
tax deferred
variable expenses
credit report
24. The probability that injury - damage - or loss will occur.
systematic investing
well-know full-service brokers
Rule of 72
risk
25. The chance that inflation will rise faster than the rate of return on an investment
variable expenses
satellite decisions
interest-rate risk
budget
26. A payroll deduction collected by employers by law and sent to the state government to support state services.
initial investing
state income tax
Temporary investment
mutual funds
27. Actions that the government might take that would reduce the value of an investment
bank
rate of return
political risk
put-and-take account
28. Things that add comfort and pleasure to your life but you can live without if you need to.
bond
spyware
collectibles
wants
29. Investors who take to take chances
phishing
Securities and Exchange Commission
risk taker
credit history
30. The belief - qualities - or standards that you consider important or desirable.
debit card
risk management
credit union
values
31. 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.
bankruptcy
company risk
US Treasury Notes
savings account
32. A chosen pursuit - profession - or occupation
career
credit history
well-known discount brokers
Rule of 72
33. 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.
diversification
mutual fund
time value of money
chapter 13
34. 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.
inflation
rate of return
universal default
APR - Average Percentage Rate
35. Merrill Lynch & Fidelity Investments & American Express
well-know full-service brokers
periodic or occasional expenses
annuities
capital loss
36. Smaller decisions that can result from a major decision.
municipal bonds
satellite decisions
phishing
credit union
37. Bold and high-risk investments
periodic or occasional expenses
share account
speculative investments
capital loss
38. A spending plan for managing money during a given period of time.
political risk
cash flow
savings
budget
39. Investment choices that will be re-evaluated within a year or less
interest-rate risk
Temporary investment
credit union
grace period
40. Management of investment alternatives to maximize the growth of your portfolio
Temporary investment
strategic investing
US Treasury Bills
bankruptcy
41. Investment choices that will be re-evaluated within a year or less
portfolio
career
share draft account
Temporary investment
42. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
discount brokers
time value of money
bankruptcy
industry risk
43. Expenses that aren't paid every month and can be either fixed or variable.
penny stocks
periodic or occasional expenses
spending plan
chapter 13
44. A formal contract to repay borrowed money with interest at fixed intervals
risk management
bond
dollar cost average
social security tax
45. Movement of money you receive and the money you spend
well-know full-service brokers
risk taker
mutual funds
cash flow
46. Wall Street Journal and Barron's
short term goal
well-known financial newspapers
tax deferred
bank
47. The chance that an investment's value will decrease
annuities
futures
risk management
investing risk
48. Reducing investment risk by putting money in several different types of investments.
diversification
career
opportunity cost
Securities and Exchange Commission
49. A summary of a person's borrowing and repayment history.
credit history
universal default
financial advisers
full-service broker
50. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
debit card
investor services
capital loss
Rule of 72
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