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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
Subjects
:
literacy
,
personal-finance
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 certificate documenting the shareholder's ownership in the corporation
credit score
bankruptcy
Investing
stock
2. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
credit report
mutual fund
debt
time value of money
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.
savings account
speculative investments
corporate bonds
tax deferred
4. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
interest-rate risk
bank
deductible
chapter 7
5. Uncontrollable and unpredictable events that cause an investment to lose value
systematic investing
put-and-take account
bank
non-market risk
6. A general and progressive increase in prices
Temporary investment
corporate bonds
well-known discount brokers
inflation
7. A formal contract to repay borrowed money with interest at fixed intervals
delayed gratification
bond
financial advisers
US Treasury Notes
8. The probability that injury - damage - or loss will occur.
social security tax
risk
universal default
yield
9. Regular and planned investments
collectibles
systematic investing
Rule of 72
risk management
10. The belief - qualities - or standards that you consider important or desirable.
strategic investing
investing risk
risk
values
11. US treasury security that matures from a few days to one year
Temporary investment
credit report
origination fee
US Treasury Bills
12. Management of investment alternatives to maximize the growth of your portfolio
strategic investing
financial pages
discount brokers
spending plan
13. The amount of money someone is willing to loan you.
principal
opportunity cost
social security tax
risk
14. 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.
annual report
Series I Savings Bond
social security tax
well-know full-service brokers
15. 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.'
debit card
social security tax
investing risk
interest-rate risk
16. Conservative investing; used when you have 'excess' savings
initial investing
savings account
stock
credit
17. A goal to be achieved within the next three months.
short term goal
annual fee
credit history
permanent investment
18. Maximum amount of credit a lender will extend to a customer.
Investing
well-know financial magazines
well-know financial magazines
credit limit
19. The credit union term for a checking account.
checking account
share draft account
non-market risk
capital gain
20. Reducing investment risk by putting money in several different types of investments.
mutual fund
satellite decisions
diversification
periodic or occasional expenses
21. The process of dealing with the chance of a potential personal or financial loss.
risk management
maturity date
savings
real estate
22. People trained to give investment advise based on your goals & age & lifestyle & etc
spending plan
financial advisers
penny stocks
deductible
23. Newspapers list of securities
share draft account
ATM - Automatic Teller Machine
financial pages
delayed gratification
24. A detailed record of your personal credit and financial transactions.
diversification
time value of money
dollar cost average
credit report
25. Newspapers list of securities
stock market
credit history
financial pages
interest
26. An amount that credit card companies can charge for the use of a credit card.
annual fee
Rule of 72
rate of return
chapter 13
27. Debt obligations of state or local governments
Rule of 72
put-and-take account
US Treasury Notes
municipal bonds
28. A legal process to get out of debt when you can no longer make all your required payments.
phishing
satellite decisions
variable expenses
bankruptcy
29. A chosen pursuit - profession - or occupation
Series I Savings Bond
grace period
career
options
30. The setting aside of money for future use or other investments
investing risk
share account
pay yourself first - P.Y.F.
debit card
31. The willingness to give up something you want now in return for something better in the future.
credit
risk taker
delayed gratification
Series EE Savings Bond
32. The amount a corporation pays at a fixed amount when repaying a bond
risk taker
well-know financial magazines
risk management
interest
33. The entire amount of money you owe to lenders
political risk
debt
financial pages
corporate bonds
34. Collection of investments
mutual fund
well-known discount brokers
portfolio
credit score
35. Brokers who provided little or no information to clients
discount brokers
origination fee
collectibles
investor services
36. Things that add comfort and pleasure to your life but you can live without if you need to.
savings account
wants
checking account
principal
37. The maximum amount an insurance company will pay if you file a claim.
credit score
coverage limit
universal default
bank
38. A unit of ownership in a corporation
investor services
principal
checking account
stocks
39. The credit union term for a savings account.
Securities and Exchange Commission
well-known investor services
debit card
share account
40. A form of bankruptcy that allows you to erase most of your debt.
Investing
diversification
maturity date
chapter 7
41. The amount a corporation borrowed in a bond situation
principal
credit union
well-known discount brokers
initial investing
42. Things that add comfort and pleasure to your life but you can live without if you need to.
periodic or occasional expenses
Rule of 72
wants
well-know full-service brokers
43. The process of dealing with the chance of a potential personal or financial loss.
company risk
compounding interest rate
principal
risk management
44. A government sector that requires all public corporations to make annual reports available to their stockholders
credit union
bankruptcy
Securities and Exchange Commission
deductible
45. A payroll deduction collected by employers by law and sent to the state government to support state services.
state income tax
interest-rate risk
rate of return
political risk
46. Pooling of money from many investors to buy a large & diverse selection of securities
diversification
mutual funds
Series EE Savings Bond
spyware
47. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
deductible
collectibles
principal
budget
48. Smaller decisions that can result from a major decision.
values
put-and-take account
satellite decisions
principal
49. US treasury security that matures in 30 years
US Treasury Bonds
rate of return
over-the-limit fee
non-market risk
50. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
market risk
dollar cost average
mutual fund
maturity date