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. The credit union term for a savings account.






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






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






4. Standard and Poor's and Moody's






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






6. 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.






7. Investors who take to take chances






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






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






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






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






12. US treasury security that matures in 30 years






13. 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.






14. The process of dealing with the chance of a potential personal or financial loss.






15. Bold and high-risk investments






16. Investors who are afraid to make investments






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






18. Business Weekly & Forbes & Money






19. The portion of the profits paid to the shareholders of a company.






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






21. 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.






22. Smaller decisions that can result from a major decision.






23. Expenses that are not fixed.






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






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






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






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






28. 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.






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






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






31. 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.






32. Brokers who provided little or no information to clients






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






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






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






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






37. A unit of ownership in a corporation






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






39. A general and progressive increase in prices






40. The place where stocks are bought and sold.






41. Wall Street Journal and Barron's






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






43. The amount a corporation borrowed in a bond situation






44. 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.






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






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






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






48. Newspapers list of securities






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






50. Merrill Lynch & Fidelity Investments & American Express