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 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.






2. A goal to be achieved within the next three months.






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






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






5. Expenses that are not fixed.






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






7. Expenses that are not fixed.






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






9. Investors who take to take chances






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






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






12. Standard and Poor's and Moody's






13. The entire amount of money you owe to lenders






14. Newspapers list of securities






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






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






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






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






19. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






20. Bonds designed for investors wanting to protect again inflation losses






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






22. Another term for budget






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






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






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






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






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






28. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






33. 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.'






34. Summary of a corporation's financial condition






35. Bold and high-risk investments






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






37. Collection of investments






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






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






40. 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.






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






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






43. Debt obligations of state or local governments






44. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






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






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






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






48. Business Weekly & Forbes & Money






49. The credit union term for a checking account.






50. Business Weekly & Forbes & Money