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. The process of dealing with the chance of a potential personal or financial loss.






2. Investment choices that will be held for long periods






3. Property consisting of houses and land






4. The credit union term for a savings account.






5. The amount a corporation pays at a fixed amount when repaying a bond






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






7. A unit of ownership in a corporation






8. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






9. The credit union term for a savings account.






10. A legal process to get out of debt when you can no longer make all your required payments.






11. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.






12. The amount a corporation borrowed in a bond situation






13. Charles Schwab & TD Ameritrade & E*TRADE






14. The setting aside of money for future use or other investments






15. Wall Street Journal and Barron's






16. A general and progressive increase in prices






17. Uncontrollable and unpredictable events that cause an investment to lose value






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






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






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






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






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






23. Investors who take to take chances






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






25. Charles Schwab & TD Ameritrade & E*TRADE






26. Actions that the government might take that would reduce the value of an investment






27. A bad side effect of free downloads that may be used to send you pop-up ads - redirect your computer to unwanted Web sites - monitor your Internet surfing - or record your keystrokes in an effort to steal your identity.






28. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.






29. A payroll deduction collected by employers by law and sent to the state government to support state services.






30. The profit from an investment.






31. Debt obligations of corporations






32. Companies that provide extensive financial data to clients






33. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






34. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






35. The belief - qualities - or standards that you consider important or desirable.






36. Investors who take to take chances






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






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






39. Debt obligations of state or local governments






40. Another term for budget






41. Standard and Poor's and Moody's






42. A chosen pursuit - profession - or occupation






43. The portion of the profits paid to the shareholders of a company.






44. 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.






45. Regular and planned investments






46. Summary of a corporation's financial condition






47. The probability that injury - damage - or loss will occur.






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






49. A legal process to get out of debt when you can no longer make all your required payments.






50. 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.