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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 goal to be achieved within the next three months.






2. Things that add comfort and pleasure to your life but you can live without if you need to.






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






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






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






6. Charles Schwab & TD Ameritrade & E*TRADE






7. Property consisting of houses and land






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.






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






10. 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.






11. 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.'






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






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






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






15. The total amount of what it costs you to use credit in a given year. It is expressed as a percentage of the amount borrowed.






16. 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.






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






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






19. Low-priced stocks of small companies that have no track record






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






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






22. Collection of investments






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






24. Associated with owning stock of only one company






25. The value of What is given up when you choose one option over another.






26. 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.






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






28. Movement of money you receive and the money you spend






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






30. The credit union term for a checking account.






31. The profit from an investment.






32. Collection of investments






33. Companies that provide extensive financial data to clients






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






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






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






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






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






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






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






41. Standard and Poor's and Moody's






42. Brokers who provided little or no information to clients






43. Things that add comfort and pleasure to your life but you can live without if you need to.






44. The amount a corporation pays at a fixed amount when repaying a bond






45. A general and progressive increase in prices






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






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






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






49. Companies that provide extensive financial data to clients






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






?:?:)

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