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 goal to be achieved within the next three months.






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






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






4. Summary of a corporation's financial condition






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






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






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






8. 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.






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






10. Debt obligations of corporations






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






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






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






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






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






16. 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.






17. The profit from an investment.






18. Companies that provide extensive financial data to clients






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






20. Newspapers list of securities






21. Brokers who provide clients with analysis and opinions






22. Standard and Poor's and Moody's






23. The credit union term for a checking account.






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






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






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






27. 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.






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






29. A chosen pursuit - profession - or occupation






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






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






32. A general and progressive increase in prices






33. The credit union term for a savings account.






34. The place where stocks are bought and sold.






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






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






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






38. 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.






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






40. The credit union term for a checking account.






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






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






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






44. Investing with a series of regular payments; usually associated with life insurance companies






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






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






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






48. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






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






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