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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. Associated with owning stock of only one company






2. 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.






3. 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.






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






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






6. Investors who are afraid to make investments






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






8. 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.






9. Summary of a corporation's financial condition






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






11. The place where stocks are bought and sold.






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






13. A form of bankruptcy that allows you to erase most of your debt.






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






15. Merrill Lynch & Fidelity Investments & American Express






16. 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.






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






18. The profit from an investment.






19. Investment choices that will be held for long periods






20. Investors who take to take chances






21. A general and progressive increase in prices






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






23. Property consisting of houses and land






24. Newspapers list of securities






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






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






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






28. Brokers who provided little or no information to clients






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






30. Uncontrollable and unpredictable events that cause an investment to lose value






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






32. US treasury security that matures in 30 years






33. The credit union term for a checking account.






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






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






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






37. Collection of investments






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






39. The entire amount of money you owe to lenders






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






41. Wall Street Journal and Barron's






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






43. Property consisting of houses and land






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






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






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






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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