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






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






3. 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.






4. Summary of a corporation's financial condition






5. Losses in an investment as a result of the business cycle






6. Property consisting of houses and land






7. The place where stocks are bought and sold.






8. 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.






9. Investment choices that will be re-evaluated within a year or less






10. Investing with a series of regular payments; usually associated with life insurance companies






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






12. The unique passcode number you use to get access to your savings and/or checking account






13. Spreading risk among many types of investments; one way to minimize risk






14. Movement of money you receive and the money you spend






15. The profit from an investment.






16. Companies that provide extensive financial data to clients






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






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






19. Summary of a corporation's financial condition






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






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






22. Movement of money you receive and the money you spend






23. The portion of the profits paid to the shareholders of a company.






24. The increase or decrease in the original purchase price of an investment over a period of time.






25. Amount of money that is set aside for future purchases






26. Management of investment alternatives to maximize the growth of your portfolio






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






28. A general and progressive increase in prices






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






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






31. A term that describes investments on which earnings are not taxed until retirement






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






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






34. Investors who take to take chances






35. 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.






36. Another term for budget






37. A legal process to get out of debt when you can no longer make all your required payments.






38. Newspapers list of securities






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






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






41. Standard and Poor's and Moody's






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






43. Investment choices that will be held for long periods






44. Spreading risk among many types of investments; one way to minimize risk






45. Business Weekly & Forbes & Money






46. Associated with owning stock of similar groups of businesses






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






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






49. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






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