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. Contacts to buy and sell commodities or stocks for a specific price on a specific date






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






3. The entire amount of money you owe to lenders






4. Spreading risk among many types of investments; one way to minimize risk






5. A chosen pursuit - profession - or occupation






6. Regular and planned investments






7. The amount a corporation borrowed in a bond situation






8. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






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






14. Associated with owning stock of similar groups of businesses






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






16. A chosen pursuit - profession - or occupation






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






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






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






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






21. US treasury security that matures in 30 years






22. US treasury security that matures in 30 years






23. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






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






25. Another term for budget






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






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






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






29. A spending plan for managing money during a given period of time.






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






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






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






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






34. The credit union term for a checking account.






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






36. Debt obligations of corporations






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






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






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






40. Brokers who provided little or no information to clients






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






42. Expenses that are not fixed.






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






44. The credit union term for a checking account.






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






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






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






48. Charles Schwab & TD Ameritrade & E*TRADE






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






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