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






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






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






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






5. 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.






6. A payroll deduction collected by employers by law and sent to the state government to support state services.






7. 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.'






8. Associated with owning stock of similar groups of businesses






9. Bold and high-risk investments






10. A chosen pursuit - profession - or occupation






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






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






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






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






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






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






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






18. Wall Street Journal and Barron's






19. Wall Street Journal and Barron's






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






21. 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.






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






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






24. Summary of a corporation's financial condition






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






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






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






28. Investors who are afraid to make investments






29. Conservative investing; used when you have 'excess' savings






30. A unit of ownership in a corporation






31. Expenses that are not fixed.






32. A general and progressive increase in prices






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






34. The amount a corporation borrowed in a bond situation






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






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






37. The place where stocks are bought and sold.






38. Regular and planned investments






39. 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.






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






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






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






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






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






45. Expenses that aren't paid every month and can be either fixed or variable.






46. The credit union term for a savings account.






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






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






49. The profit from an investment.






50. Brokers who provided little or no information to clients