Test your basic knowledge |

Financial Literacy Basics

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. Another term for budget






2. Business Weekly & Forbes & Money






3. The unique passcode number you use to get access to your savings and/or checking account






4. 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.






5. Standard and Poor's and Moody's






6. A formal contract to repay borrowed money with interest at fixed intervals






7. Amount of money that is set aside for future purchases






8. The amount of money someone is willing to loan you.






9. Spreading risk among many types of investments; one way to minimize risk






10. The entire amount of money you owe to lenders






11. Investors who are afraid to make investments






12. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






13. The credit union term for a savings account.






14. People trained to give investment advise based on your goals & age & lifestyle & etc






15. Things that add comfort and pleasure to your life but you can live without if you need to.






16. Contacts to buy and sell commodities or stocks for a specific price on a specific date






17. A form of bankruptcy that allows you to erase most of your debt.






18. The amount a corporation borrowed in a bond situation






19. Maximum amount of credit a lender will extend to a customer.






20. Losses in an investment as a result of the business cycle






21. Conservative investing; used when you have 'excess' savings






22. The maximum amount an insurance company will pay if you file a claim.






23. US treasury security that matures in 30 years






24. Property consisting of houses and land






25. Brokers who provided little or no information to clients






26. A general and progressive increase in prices






27. A bank account against which the depositor can draw checks payable on demand.






28. A goal to be achieved within the next three months.






29. Summary of a corporation's financial condition






30. Expenses that aren't paid every month and can be either fixed or variable.






31. Brokers who provided little or no information to clients






32. The place where stocks are bought and sold.






33. Regular and planned investments






34. Smaller decisions that can result from a major decision.






35. US treasury security that matures in 2 & 5 & or 10 years






36. The willingness to give up something you want now in return for something better in the future.






37. The date on which the borrowed money must be repaid






38. Collection of investments






39. A form of bankruptcy that allows you to erase most of your debt.






40. Expenses that are not fixed.






41. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.






42. The increase or decrease in the original purchase price of an investment over a period of time.






43. The use of long-term savings to earn a financial return






44. The chance that an investment's value will decrease






45. A bank account against which the depositor can draw checks payable on demand.






46. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






47. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






48. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.






49. Investing with a series of regular payments; usually associated with life insurance companies






50. Investment choices that will be re-evaluated within a year or less