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






2. The credit union term for a savings account.






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






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






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






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






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






8. Wall Street Journal and Barron's






9. The willingness to give up something you want now in return for something better in the future.






10. A chosen pursuit - profession - or occupation






11. The amount a corporation pays at a fixed amount when repaying a bond






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






13. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






14. 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.






15. 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.






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






17. The amount a corporation borrowed in a bond situation






18. 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.






19. Low-priced stocks of small companies that have no track record






20. US treasury security that matures from a few days to one year






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






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






23. Actions that the government might take that would reduce the value of an investment






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






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






26. Investment choices that will be held for long periods






27. Bold and high-risk investments






28. US treasury security that matures from a few days to one year






29. US treasury security that matures in 30 years






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






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






32. Newspapers list of securities






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






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






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






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






37. The use of long-term savings to earn a financial return






38. The credit union term for a checking account.






39. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






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






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






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






43. A chosen pursuit - profession - or occupation






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






45. Summary of a corporation's financial condition






46. Investment choices that will be held for long periods






47. Associated with owning stock of similar groups of businesses






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






49. A formal contract to repay borrowed money with interest at fixed intervals






50. 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.