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






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






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






4. Regular and planned investments






5. Newspapers list of securities






6. Property consisting of houses and land






7. Reducing investment risk by putting money in several different types of investments.






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






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






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






11. Expenses that are not fixed.






12. Investors who are afraid to make investments






13. Wall Street Journal and Barron's






14. The credit union term for a checking account.






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






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






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






18. A spending plan for managing money during a given period of time.






19. Losses in an investment as a result of the business cycle






20. Losses in an investment as a result of the business cycle






21. 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.






22. 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.






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






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






25. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.






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






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






28. Newspapers list of securities






29. Pooling of money from many investors to buy a large & diverse selection of securities






30. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






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






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






37. Business Weekly & Forbes & Money






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






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






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






41. Companies that provide extensive financial data to clients






42. Another term for budget






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






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






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






46. Associated with owning stock of only one company






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






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






49. Bold and high-risk investments






50. A certificate documenting the shareholder's ownership in the corporation







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