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Test your basic knowledge |
Financial Literacy Basics
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Study First
Subjects
:
literacy
,
personal-finance
Instructions:
Answer 50 questions in 15 minutes.
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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. US treasury security that matures in 30 years
put-and-take account
rate of return
US Treasury Bonds
spending plan
2. 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.
over-the-limit fee
origination fee
APR - Average Percentage Rate
spending plan
3. Investors who take to take chances
origination fee
municipal bonds
risk taker
periodic or occasional expenses
4. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
budget
capital gain
diversification
stock market
5. Regular and planned investments
time value of money
Series EE Savings Bond
systematic investing
well-known discount brokers
6. Charles Schwab & TD Ameritrade & E*TRADE
universal default
Securities and Exchange Commission
well-known discount brokers
company risk
7. Merrill Lynch & Fidelity Investments & American Express
budget
spyware
annual fee
well-know full-service brokers
8. A payroll deduction collected by employers by law and sent to the state government to support state services.
state income tax
speculative investments
variable expenses
inflation
9. Expenses that are not fixed.
financial pages
share draft account
credit union
variable expenses
10. The unique passcode number you use to get access to your savings and/or checking account
Personal Identification Number - PIN
opportunity cost
spending plan
budget
11. Debt obligations of state or local governments
Series EE Savings Bond
variable expenses
career
municipal bonds
12. 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.
credit report
spyware
risk management
stock
13. A summary of a person's borrowing and repayment history.
capital gain
credit history
dividend
universal default
14. Summary of a corporation's financial condition
options
universal default
stock market
annual report
15. The credit union term for a checking account.
well-known investor services
share draft account
checking account
US Treasury Notes
16. The credit union term for a checking account.
stocks
well-know full-service brokers
share draft account
systematic investing
17. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
budget
credit score
stock market
ATM - Automatic Teller Machine
18. Reducing investment risk by putting money in several different types of investments.
inflation
diversification
stock
annual report
19. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
credit union
yield
risk averse
debt
20. A spending plan for managing money during a given period of time.
budget
risk management
delayed gratification
portfolio
21. A bank account against which the depositor can draw checks payable on demand.
checking account
stock market
grace period
permanent investment
22. The use of long-term savings to earn a financial return
Investing
well-known financial newspapers
periodic or occasional expenses
savings account
23. Standard and Poor's and Moody's
non-market risk
portfolio
diversification
well-known investor services
24. The unique passcode number you use to get access to your savings and/or checking account
risk taker
credit history
Personal Identification Number - PIN
municipal bonds
25. Conservative investing; used when you have 'excess' savings
debt
initial investing
strategic investing
short term goal
26. Spreading risk among many types of investments; one way to minimize risk
chapter 7
Personal Identification Number - PIN
diversification
investor services
27. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
spyware
ATM - Automatic Teller Machine
deductible
US Treasury Bills
28. The profit from an investment.
capital gain
Rule of 72
Securities and Exchange Commission
yield
29. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
interest
market risk
ATM - Automatic Teller Machine
savings
30. Bonds designed for investors wanting to protect again inflation losses
stock
Series I Savings Bond
savings account
investing risk
31. Investment choices that will be held for long periods
permanent investment
Investing
debt
phishing
32. The increase or decrease in the original purchase price of an investment over a period of time.
rate of return
spyware
credit report
market risk
33. Smaller decisions that can result from a major decision.
satellite decisions
share draft account
maturity date
cash flow
34. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
dollar cost average
coverage limit
capital loss
wants
35. A term that describes investments on which earnings are not taxed until retirement
coverage limit
investor services
industry risk
tax deferred
36. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
Series EE Savings Bond
savings account
mutual fund
rate of return
37. The chance that an investment's value will decrease
dollar cost average
dollar cost average
stock
investing risk
38. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
origination fee
permanent investment
strategic investing
Securities and Exchange Commission
39. Maximum amount of credit a lender will extend to a customer.
Personal Identification Number - PIN
credit limit
bank
deductible
40. Expenses that aren't paid every month and can be either fixed or variable.
periodic or occasional expenses
credit report
social security tax
dividend
41. The setting aside of money for future use or other investments
chapter 13
municipal bonds
pay yourself first - P.Y.F.
options
42. The amount a corporation borrowed in a bond situation
options
delayed gratification
credit history
principal
43. A chosen pursuit - profession - or occupation
chapter 13
universal default
strategic investing
career
44. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
corporate bonds
credit
deductible
options
45. Summary of a corporation's financial condition
social security tax
credit limit
over-the-limit fee
annual report
46. People trained to give investment advise based on your goals & age & lifestyle & etc
APR - Average Percentage Rate
industry risk
career
financial advisers
47. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
variable expenses
yield
credit
market risk
48. The portion of the profits paid to the shareholders of a company.
permanent investment
dividend
well-known discount brokers
stock
49. A formal contract to repay borrowed money with interest at fixed intervals
bond
savings
spending plan
credit
50. A form of bankruptcy that allows you to erase most of your debt.
futures
full-service broker
chapter 7
universal default
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