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






2. A general and progressive increase in prices






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






4. The profit from an investment.






5. US treasury security that matures in 30 years






6. Summary of a corporation's financial condition






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






8. Merrill Lynch & Fidelity Investments & American Express






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






10. The chance that inflation will rise faster than the rate of return on an investment






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






12. Associated with owning stock of only one company






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






14. Investors who take to take chances






15. Bonds designed for investors wanting to protect again inflation losses






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






17. Debt obligations of state or local governments






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






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






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






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






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






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






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






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






26. A chosen pursuit - profession - or occupation






27. Brokers who provided little or no information to clients






28. Another term for budget






29. The amount a corporation borrowed in a bond situation






30. Conservative investing; used when you have 'excess' savings






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






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






33. Business Weekly & Forbes & Money






34. A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called 'check card.'






35. Conservative investing; used when you have 'excess' savings






36. Wall Street Journal and Barron's






37. Debt obligations of corporations






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






39. The place where stocks are bought and sold.






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






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






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






43. Investment choices that will be held for long periods






44. 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.






45. 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.






46. US treasury security that matures in 30 years






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






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






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






50. Expenses that are not fixed.