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






3. Another term for budget






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






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






6. The entire amount of money you owe to lenders






7. The place where stocks are bought and sold.






8. The credit union term for a savings account.






9. A general and progressive increase in prices






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






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






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






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






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






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






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






17. A general and progressive increase in prices






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






19. Standard and Poor's and Moody's






20. The maximum amount an insurance company will pay if you file a claim.






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






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






23. Merrill Lynch & Fidelity Investments & American Express






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






25. The profit from an investment.






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






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






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






29. Summary of a corporation's financial condition






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






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






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






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






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






35. The chance that inflation will rise faster than the rate of return on an investment






36. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






37. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






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






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






44. The amount a corporation borrowed in a bond situation






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






46. Newspapers list of securities






47. 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.






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






49. 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.






50. Associated with owning stock of only one company