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 chosen pursuit - profession - or occupation






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






3. Wall Street Journal and Barron's






4. 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.






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






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






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






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






9. Another term for budget






10. A government sector that requires all public corporations to make annual reports available to their stockholders






11. Standard and Poor's and Moody's






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






13. Charles Schwab & TD Ameritrade & E*TRADE






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






15. Associated with owning stock of similar groups of businesses






16. A unit of ownership in a corporation






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






18. Collection of investments






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






20. Newspapers list of securities






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






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






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






24. The credit union term for a checking account.






25. 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.






26. Another term for budget






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






28. Merrill Lynch & Fidelity Investments & American Express






29. Regular and planned investments






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






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






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






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






34. The profit from an investment.






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






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






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






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






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






40. A chosen pursuit - profession - or occupation






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






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






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






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






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






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






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






48. A government sector that requires all public corporations to make annual reports available to their stockholders






49. 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.






50. 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.