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. Debt obligations of state or local governments






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






3. Wall Street Journal and Barron's






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






5. 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.'






6. Uncontrollable and unpredictable events that cause an investment to lose value






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






8. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






9. The profit from an investment.






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






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






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






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






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






15. Companies that provide extensive financial data to clients






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






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






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






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






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






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






22. Wall Street Journal and Barron's






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






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






25. Standard and Poor's and Moody's






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






27. The profit from an investment.






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






29. The place where stocks are bought and sold.






30. Investors who are afraid to make investments






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






32. A unit of ownership in a corporation






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.






34. An investment security that is actually a diversified portfolio of equities - bonds or other securities. Investors purchase shares and can sell them at any time.






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






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






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






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






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






40. Expenses that are not fixed.






41. Business Weekly & Forbes & Money






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






43. Uncontrollable and unpredictable events that cause an investment to lose value






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






45. Newspapers list of securities






46. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






47. Debt obligations of state or local governments






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






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






50. 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.







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests