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






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






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






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






5. 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.






6. A goal to be achieved within the next three months.






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






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






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






10. Debt obligations of corporations






11. Collection of investments






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






13. The credit union term for a checking account.






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






15. Associated with owning stock of similar groups of businesses






16. Business Weekly & Forbes & Money






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






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






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






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






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






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






23. Charles Schwab & TD Ameritrade & E*TRADE






24. Standard and Poor's and Moody's






25. Brokers who provide clients with analysis and opinions






26. Regular and planned investments






27. Summary of a corporation's financial condition






28. Pooling of money from many investors to buy a large & diverse selection of securities






29. Brokers who provided little or no information to clients






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






31. The place where stocks are bought and sold.






32. The amount of money someone is willing to loan you.






33. Associated with owning stock of only one company






34. Earning interest on interest.






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






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






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






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






39. Companies that provide extensive financial data to clients






40. Expenses that are not fixed.






41. Standard and Poor's and Moody's






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






43. Earning interest on interest.






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






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






46. Another term for budget






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






48. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






49. Wall Street Journal and Barron's






50. A unit of ownership in a corporation