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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. Expenses that are not fixed.
annual report
time value of money
stocks
variable expenses
2. The use of long-term savings to earn a financial return
coverage limit
Investing
put-and-take account
well-know financial magazines
3. A chosen pursuit - profession - or occupation
well-known investor services
career
social security tax
US Treasury Notes
4. Debt obligations of state or local governments
principal
Securities and Exchange Commission
municipal bonds
credit limit
5. Regular and planned investments
systematic investing
investing risk
well-known investor services
credit history
6. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.
satellite decisions
Rule of 72
annuities
initial investing
7. Companies that provide extensive financial data to clients
financial pages
principal
investor services
grace period
8. A technique used for estimating the number of years required to double your money at a given rate
capital gain
well-known financial newspapers
full-service broker
Rule of 72
9. Property consisting of houses and land
real estate
chapter 7
penny stocks
collectibles
10. A formal contract to repay borrowed money with interest at fixed intervals
yield
risk management
bond
risk averse
11. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
options
chapter 7
chapter 13
financial advisers
12. Losses in an investment as a result of the business cycle
investor services
options
market risk
social security tax
13. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
penny stocks
put-and-take account
company risk
speculative investments
14. Reducing investment risk by putting money in several different types of investments.
penny stocks
credit limit
debit card
diversification
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.
chapter 13
systematic investing
speculative investments
savings account
16. A general and progressive increase in prices
inflation
investor services
strategic investing
spyware
17. Things that add comfort and pleasure to your life but you can live without if you need to.
US Treasury Bonds
career
mutual funds
wants
18. Collection of investments
real estate
portfolio
interest
tax deferred
19. The amount a corporation borrowed in a bond situation
well-known financial newspapers
well-know full-service brokers
principal
capital gain
20. A term that describes investments on which earnings are not taxed until retirement
career
tax deferred
annuities
Investing
21. Movement of money you receive and the money you spend
well-known investor services
cash flow
inflation
mutual funds
22. The probability that injury - damage - or loss will occur.
risk
spyware
deductible
capital loss
23. Associated with owning stock of similar groups of businesses
savings
state income tax
non-market risk
industry risk
24. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
dollar cost average
stock market
savings
non-market risk
25. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
real estate
deductible
cash flow
budget
26. Brokers who provided little or no information to clients
discount brokers
industry risk
social security tax
risk management
27. A detailed record of your personal credit and financial transactions.
credit report
company risk
bond
portfolio
28. Maximum amount of credit a lender will extend to a customer.
credit limit
company risk
annual report
political risk
29. Movement of money you receive and the money you spend
market risk
cash flow
well-know financial magazines
capital gain
30. The probability that injury - damage - or loss will occur.
risk
capital loss
investor services
interest
31. The profit from an investment.
yield
time value of money
capital loss
risk
32. Expenses that aren't paid every month and can be either fixed or variable.
interest
over-the-limit fee
periodic or occasional expenses
well-know full-service brokers
33. 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.
risk
market risk
dividend
spyware
34. A goal to be achieved within the next three months.
values
diversification
short term goal
pay yourself first - P.Y.F.
35. The unique passcode number you use to get access to your savings and/or checking account
Personal Identification Number - PIN
state income tax
career
put-and-take account
36. 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.
credit limit
share account
checking account
APR - Average Percentage Rate
37. Investing with a series of regular payments; usually associated with life insurance companies
time value of money
checking account
credit limit
annuities
38. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
phishing
stocks
grace period
39. Debt obligations of corporations
well-known discount brokers
debit card
corporate bonds
checking account
40. The credit union term for a savings account.
share account
discount brokers
compounding interest rate
share draft account
41. Wall Street Journal and Barron's
checking account
dollar cost average
well-known financial newspapers
risk taker
42. Investors who are afraid to make investments
risk averse
mutual funds
compounding interest rate
APR - Average Percentage Rate
43. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
risk averse
over-the-limit fee
bank
interest-rate risk
44. 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.
social security tax
well-known discount brokers
permanent investment
budget
45. Investment choices that will be held for long periods
industry risk
mutual fund
mutual fund
permanent investment
46. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
origination fee
political risk
discount brokers
financial advisers
47. Business Weekly & Forbes & Money
mutual fund
Series I Savings Bond
state income tax
well-know financial magazines
48. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
annuities
savings account
grace period
credit
49. Actions that the government might take that would reduce the value of an investment
political risk
dividend
credit report
systematic investing
50. A payroll deduction collected by employers by law and sent to the state government to support state services.
savings
state income tax
chapter 13
phishing
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