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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. Business Weekly & Forbes & Money






2. Earning interest on interest.






3. Brokers who provided little or no information to clients






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






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






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






7. A general and progressive increase in prices






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






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






10. The place where stocks are bought and sold.






11. Bold and high-risk investments






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






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






14. Brokers who provide clients with analysis and opinions






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






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






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






18. Newspapers list of securities






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






20. The credit union term for a savings account.






21. US treasury security that matures from a few days to one year






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






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






24. 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.






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






26. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.






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






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






29. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






30. The entire amount of money you owe to lenders






31. A chosen pursuit - profession - or occupation






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






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






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






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






36. A chosen pursuit - profession - or occupation






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






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






39. Regular and planned investments






40. 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.






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






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






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. The credit union term for a checking account.






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






46. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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