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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. Expenses that are not fixed.






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






3. A chosen pursuit - profession - or occupation






4. Debt obligations of state or local governments






5. Regular and planned investments






6. 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.






7. Companies that provide extensive financial data to clients






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






9. Property consisting of houses and land






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






11. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






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






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






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






15. 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.






16. A general and progressive increase in prices






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






18. Collection of investments






19. The amount a corporation borrowed in a bond situation






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






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






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






23. Associated with owning stock of similar groups of businesses






24. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.






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






26. Brokers who provided little or no information to clients






27. A detailed record of your personal credit and financial transactions.






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






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






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






31. The profit from an investment.






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






33. 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.






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






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






36. 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.






37. Investing with a series of regular payments; usually associated with life insurance companies






38. Charles Schwab & TD Ameritrade & E*TRADE






39. Debt obligations of corporations






40. The credit union term for a savings account.






41. Wall Street Journal and Barron's






42. Investors who are afraid to make investments






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






44. 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.






45. Investment choices that will be held for long periods






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






47. Business Weekly & Forbes & Money






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






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






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






Can you answer 50 questions in 15 minutes?



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