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






2. The amount a corporation borrowed in a bond situation






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






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






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






6. Bold and high-risk investments






7. Newspapers list of securities






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






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






10. A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly - disabled Americans - and orphaned minors.






11. A general and progressive increase in prices






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






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






14. Summary of a corporation's financial condition






15. A government sector that requires all public corporations to make annual reports available to their stockholders






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






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






18. The amount a corporation borrowed in a bond situation






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






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






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






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






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






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






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






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






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






28. Charles Schwab & TD Ameritrade & E*TRADE






29. The place where stocks are bought and sold.






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






31. Bold and high-risk investments






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






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






34. Expenses that are not fixed.






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






36. An amount that credit card companies can charge for the use of a credit card.






37. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






38. Property consisting of houses and land






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






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






41. Debt obligations of corporations






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






43. Merrill Lynch & Fidelity Investments & American Express






44. Investors who are afraid to make investments






45. The chance that an investment's value will decrease






46. 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.






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






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






49. Earning interest on interest.






50. Debt obligations of corporations