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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
Subjects
:
literacy
,
personal-finance
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 process of dealing with the chance of a potential personal or financial loss.
well-known discount brokers
full-service broker
risk management
savings
2. The value of What is given up when you choose one option over another.
risk taker
Personal Identification Number - PIN
opportunity cost
stocks
3. Movement of money you receive and the money you spend
credit limit
cash flow
chapter 13
mutual fund
4. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
budget
grace period
bank
satellite decisions
5. The amount a corporation borrowed in a bond situation
share draft account
APR - Average Percentage Rate
financial advisers
principal
6. Maximum amount of credit a lender will extend to a customer.
credit limit
coverage limit
portfolio
US Treasury Bonds
7. The belief - qualities - or standards that you consider important or desirable.
permanent investment
capital loss
spending plan
values
8. 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.
financial advisers
mutual fund
Rule of 72
mutual funds
9. A spending plan for managing money during a given period of time.
APR - Average Percentage Rate
financial pages
budget
bankruptcy
10. Charles Schwab & TD Ameritrade & E*TRADE
futures
Personal Identification Number - PIN
bank
well-known discount brokers
11. Standard and Poor's and Moody's
investing risk
stock market
spending plan
well-known investor services
12. A certificate documenting the shareholder's ownership in the corporation
interest-rate risk
Series EE Savings Bond
stock
bankruptcy
13. A formal contract to repay borrowed money with interest at fixed intervals
bond
Series I Savings Bond
variable expenses
spending plan
14. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
capital loss
variable expenses
corporate bonds
risk management
15. Bonds designed for investors wanting to protect again inflation losses
compounding interest rate
periodic or occasional expenses
annual fee
Series I Savings Bond
16. Debt obligations of corporations
Series I Savings Bond
corporate bonds
credit score
APR - Average Percentage Rate
17. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
put-and-take account
Personal Identification Number - PIN
US Treasury Notes
yield
18. The unique passcode number you use to get access to your savings and/or checking account
Rule of 72
Personal Identification Number - PIN
spending plan
risk
19. 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.
real estate
over-the-limit fee
Rule of 72
discount brokers
20. The date on which the borrowed money must be repaid
maturity date
credit
stock
cash flow
21. Summary of a corporation's financial condition
annual report
credit union
yield
Temporary investment
22. Low-priced stocks of small companies that have no track record
penny stocks
strategic investing
real estate
well-know financial magazines
23. Earning interest on interest.
credit report
diversification
compounding interest rate
speculative investments
24. Brokers who provided little or no information to clients
annual fee
collectibles
grace period
discount brokers
25. Things that add comfort and pleasure to your life but you can live without if you need to.
periodic or occasional expenses
wants
phishing
share account
26. Brokers who provided little or no information to clients
financial pages
industry risk
discount brokers
state income tax
27. Amount of money that is set aside for future purchases
savings
deductible
diversification
US Treasury Notes
28. 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.'
debit card
debt
wants
credit
29. Debt obligations of state or local governments
over-the-limit fee
municipal bonds
principal
non-market risk
30. Investment choices that will be re-evaluated within a year or less
industry risk
Temporary investment
career
principal
31. Collection of investments
portfolio
yield
career
diversification
32. People trained to give investment advise based on your goals & age & lifestyle & etc
values
Temporary investment
financial advisers
savings account
33. Another term for budget
cash flow
risk management
spending plan
well-know financial magazines
34. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
initial investing
stock market
share account
capital gain
35. A technique used for estimating the number of years required to double your money at a given rate
Investing
Rule of 72
risk
credit report
36. Actions that the government might take that would reduce the value of an investment
origination fee
discount brokers
compounding interest rate
political risk
37. Regular and planned investments
deductible
systematic investing
speculative investments
bank
38. Newspapers list of securities
political risk
financial pages
well-known financial newspapers
diversification
39. A payroll deduction collected by employers by law and sent to the state government to support state services.
financial pages
state income tax
mutual funds
Rule of 72
40. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.
debt
savings account
credit report
universal default
41. A clause included in many credit card company agreements that allows a credit card company to increase your interest rate if you make just one late payment.
investing risk
company risk
social security tax
universal default
42. The probability that injury - damage - or loss will occur.
penny stocks
values
savings account
risk
43. 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.
spending plan
interest
pay yourself first - P.Y.F.
mutual fund
44. Expenses that are not fixed.
discount brokers
share account
variable expenses
bank
45. A bank account against which the depositor can draw checks payable on demand.
checking account
annuities
share account
speculative investments
46. Merrill Lynch & Fidelity Investments & American Express
state income tax
Temporary investment
systematic investing
well-know full-service brokers
47. A general and progressive increase in prices
social security tax
inflation
share account
ATM - Automatic Teller Machine
48. A legal process to get out of debt when you can no longer make all your required payments.
rate of return
industry risk
bankruptcy
stocks
49. Reducing investment risk by putting money in several different types of investments.
rate of return
Series I Savings Bond
diversification
debit card
50. The place where stocks are bought and sold.
interest
capital loss
principal
stock market
Can you answer 50 questions in 15 minutes?
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