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. Property consisting of houses and land






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






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






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






5. A chosen pursuit - profession - or occupation






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






7. A chosen pursuit - profession - or occupation






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






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






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






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






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






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






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






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






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






17. The value of What is given up when you choose one option over another.






18. Collection of investments






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






20. Earning interest on interest.






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






22. The amount a corporation borrowed in a bond situation






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






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






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






26. Debt obligations of state or local governments






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






28. Reducing investment risk by putting money in several different types of investments.






29. 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.






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






31. Companies that provide extensive financial data to clients






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






33. The credit union term for a checking account.






34. Collection of investments






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






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






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






38. Brokers who provided little or no information to clients






39. The place where stocks are bought and sold.






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






41. Brokers who provided little or no information to clients






42. Business Weekly & Forbes & Money






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






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






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






46. Expenses that are not fixed.






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






48. Associated with owning stock of only one company






49. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






50. Brokers who provide clients with analysis and opinions