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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. A formal contract to repay borrowed money with interest at fixed intervals
grace period
budget
Personal Identification Number - PIN
bond
2. Investment choices that will be re-evaluated within a year or less
US Treasury Notes
Temporary investment
dividend
well-known financial newspapers
3. A general and progressive increase in prices
inflation
risk averse
wants
stock
4. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
well-know financial magazines
ATM - Automatic Teller Machine
portfolio
full-service broker
5. A goal to be achieved within the next three months.
short term goal
Personal Identification Number - PIN
credit union
Series EE Savings Bond
6. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
municipal bonds
rate of return
savings
chapter 13
7. Another term for budget
spending plan
time value of money
financial pages
bond
8. The increase or decrease in the original purchase price of an investment over a period of time.
yield
compounding interest rate
rate of return
mutual funds
9. Contacts to buy and sell commodities or stocks for a specific price on a specific date
futures
yield
Rule of 72
risk
10. A general and progressive increase in prices
collectibles
inflation
full-service broker
interest-rate risk
11. Regular and planned investments
over-the-limit fee
risk taker
systematic investing
mutual funds
12. A government sector that requires all public corporations to make annual reports available to their stockholders
portfolio
bond
Securities and Exchange Commission
well-know full-service brokers
13. An amount that credit card companies can charge for the use of a credit card.
annual fee
dividend
dollar cost average
discount brokers
14. Standard and Poor's and Moody's
Securities and Exchange Commission
credit limit
well-known investor services
capital gain
15. A chosen pursuit - profession - or occupation
APR - Average Percentage Rate
financial advisers
career
credit
16. Maximum amount of credit a lender will extend to a customer.
risk averse
credit limit
delayed gratification
mutual funds
17. Earning interest on interest.
risk averse
Investing
compounding interest rate
annual fee
18. The willingness to give up something you want now in return for something better in the future.
share draft account
delayed gratification
credit limit
interest
19. Conservative investing; used when you have 'excess' savings
initial investing
bankruptcy
put-and-take account
speculative investments
20. Investment choices that will be held for long periods
permanent investment
coverage limit
credit
US Treasury Bonds
21. Business Weekly & Forbes & Money
stock market
chapter 13
discount brokers
well-know financial magazines
22. The maximum amount an insurance company will pay if you file a claim.
systematic investing
coverage limit
credit history
risk taker
23. Bold and high-risk investments
interest
Investing
speculative investments
share draft account
24. Amount of money that is set aside for future purchases
savings
inflation
satellite decisions
share draft account
25. Merrill Lynch & Fidelity Investments & American Express
deductible
well-know full-service brokers
over-the-limit fee
Series EE Savings Bond
26. A formal contract to repay borrowed money with interest at fixed intervals
Series I Savings Bond
bond
coverage limit
stock market
27. Standard and Poor's and Moody's
rate of return
well-known investor services
share draft account
well-know financial magazines
28. Another term for budget
Rule of 72
spending plan
credit report
bond
29. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
real estate
deductible
ATM - Automatic Teller Machine
futures
30. Management of investment alternatives to maximize the growth of your portfolio
share account
well-known investor services
strategic investing
cash flow
31. The date on which the borrowed money must be repaid
credit report
maturity date
over-the-limit fee
financial advisers
32. A goal to be achieved within the next three months.
short term goal
Rule of 72
well-known investor services
tax deferred
33. Maximum amount of credit a lender will extend to a customer.
put-and-take account
credit history
credit limit
initial investing
34. The credit union term for a checking account.
annuities
financial advisers
share draft account
risk
35. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
over-the-limit fee
origination fee
checking account
market risk
36. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
US Treasury Bills
well-known discount brokers
Series EE Savings Bond
stock
37. Investors who take to take chances
credit
risk taker
company risk
well-know full-service brokers
38. Fee on credit card for making charges above your credit limit.
risk management
stock market
dollar cost average
over-the-limit fee
39. Pooling of money from many investors to buy a large & diverse selection of securities
principal
strategic investing
mutual funds
well-known investor services
40. Reducing investment risk by putting money in several different types of investments.
Securities and Exchange Commission
real estate
municipal bonds
diversification
41. Coins & art & memorabilia or other items that are popular from time to time
collectibles
chapter 13
Series I Savings Bond
wants
42. The amount a corporation borrowed in a bond situation
spending plan
capital loss
principal
coverage limit
43. A summary of a person's borrowing and repayment history.
time value of money
maturity date
tax deferred
credit history
44. 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.
US Treasury Bills
mutual fund
share draft account
full-service broker
45. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
mutual funds
career
US Treasury Bonds
options
46. Debt obligations of corporations
corporate bonds
yield
annuities
non-market risk
47. A bank account against which the depositor can draw checks payable on demand.
checking account
short term goal
annual fee
delayed gratification
48. A bank account against which the depositor can draw checks payable on demand.
well-know financial magazines
checking account
options
interest-rate risk
49. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
periodic or occasional expenses
credit union
budget
grace period
50. Property consisting of houses and land
principal
opportunity cost
strategic investing
real estate
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