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 chance that an investment's value will decrease






2. A certificate documenting the shareholder's ownership in the corporation






3. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






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






5. Movement of money you receive and the money you spend






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






7. Merrill Lynch & Fidelity Investments & American Express






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






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






10. The place where stocks are bought and sold.






11. A chosen pursuit - profession - or occupation






12. Earning interest on interest.






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






14. The entire amount of money you owe to lenders






15. A term that describes investments on which earnings are not taxed until retirement






16. Newspapers list of securities






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






18. Charles Schwab & TD Ameritrade & E*TRADE






19. Regular and planned investments






20. Brokers who provided little or no information to clients






21. An amount that credit card companies can charge for the use of a credit card.






22. Management of investment alternatives to maximize the growth of your portfolio






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






24. Debt obligations of corporations






25. A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called 'check card.'






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






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






28. The place where stocks are bought and sold.






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






30. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






31. Fee on credit card for making charges above your credit limit.






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






33. A summary of a person's borrowing and repayment history.






34. The credit union term for a savings account.






35. 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.






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






37. 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.






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






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






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






41. A technique used for estimating the number of years required to double your money at a given rate






42. Brokers who provided little or no information to clients






43. 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.






44. Investors who take to take chances






45. A government sector that requires all public corporations to make annual reports available to their stockholders






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






47. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.






48. Coins & art & memorabilia or other items that are popular from time to time






49. Collection of investments






50. Business Weekly & Forbes & Money