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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. The chance that an investment's value will decrease






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






3. The place where stocks are bought and sold.






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






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






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






7. Summary of a corporation's financial condition






8. Summary of a corporation's financial condition






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






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






11. Wall Street Journal and Barron's






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






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






14. Property consisting of houses and land






15. Standard and Poor's and Moody's






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






17. 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.






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






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






20. Standard and Poor's and Moody's






21. Expenses that are not fixed.






22. Bold and high-risk investments






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






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






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






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






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






28. Associated with owning stock of only one company






29. Brokers who provided little or no information to clients






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






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






32. The amount a corporation borrowed in a bond situation






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






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






35. Brokers who provide clients with analysis and opinions






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






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






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






39. 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.'






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






41. Wall Street Journal and Barron's






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






43. A clause included in many credit card company agreements that allows a credit card company to increase your interest rate if you make just one late payment.






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






45. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






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






Can you answer 50 questions in 15 minutes?



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