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






2. Earning interest on interest.






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






4. A unit of ownership in a corporation






5. A general and progressive increase in prices






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






7. Expenses that are not fixed.






8. Bold and high-risk investments






9. 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.






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






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






12. Coins & art & memorabilia or other items that are popular from time to time






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






14. Collection of investments






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. Associated with owning stock of only one company






18. A general and progressive increase in prices






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






20. Expenses that are not fixed.






21. Property consisting of houses and land






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






23. A payroll deduction collected by employers by law and sent to the state government to support state services.






24. Newspapers list of securities






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






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






27. A bank account against which the depositor can draw checks payable on demand.






28. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.






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






30. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






31. The credit union term for a savings account.






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






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






34. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






35. Smaller decisions that can result from a major decision.






36. 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.






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






38. Business Weekly & Forbes & Money






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






40. A chosen pursuit - profession - or occupation






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






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






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






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






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






46. The place where stocks are bought and sold.






47. Debt obligations of state or local governments






48. Charles Schwab & TD Ameritrade & E*TRADE






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






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







Sorry!:) No result found.

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