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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. The entire amount of money you owe to lenders






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






3. Debt obligations of state or local governments






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






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






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






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






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






9. Companies that provide extensive financial data to clients






10. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.






11. A unit of ownership in a corporation






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






13. Actions that the government might take that would reduce the value of an investment






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






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






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






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






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






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






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






21. Companies that provide extensive financial data to clients






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






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






24. Merrill Lynch & Fidelity Investments & American Express






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






26. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






30. Debt obligations of corporations






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






32. Merrill Lynch & Fidelity Investments & American Express






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






34. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






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






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






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






41. 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.






42. 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.






43. The amount a corporation borrowed in a bond situation






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






45. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.






46. Collection of investments






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






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






49. Summary of a corporation's financial condition






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







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Can you answer 50 questions in 15 minutes?


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