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. Debt obligations of corporations






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






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






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






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






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






7. US treasury security that matures in 2 & 5 & or 10 years






8. Investors who are afraid to make investments






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






10. A unit of ownership in a corporation






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






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






13. Bold and high-risk investments






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






15. US treasury security that matures in 30 years






16. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






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






18. Brokers who provide clients with analysis and opinions






19. 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.






20. Companies that provide extensive financial data to clients






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






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






23. Amount of money that is set aside for future purchases






24. The credit union term for a savings account.






25. 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.






26. 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.'






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






28. Collection of investments






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






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






31. A unit of ownership in a corporation






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






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. Business Weekly & Forbes & Money






35. Regular and planned investments






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






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






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






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






40. 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.






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






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






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






44. The profit from an investment.






45. The entire amount of money you owe to lenders






46. Associated with owning stock of similar groups of businesses






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






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






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






50. Low-priced stocks of small companies that have no track record