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






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






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






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






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






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






7. The credit union term for a checking account.






8. The process of dealing with the chance of a potential personal or financial loss.






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






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






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






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






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






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






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






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






17. Debt obligations of corporations






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






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






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






21. Summary of a corporation's financial condition






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






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






24. The amount a corporation borrowed in a bond situation






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






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






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






28. Earning interest on interest.






29. Expenses that are not fixed.






30. Another term for budget






31. Business Weekly & Forbes & Money






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






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






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






35. 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.






36. A chosen pursuit - profession - or occupation






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






38. Standard and Poor's and Moody's






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






40. A general and progressive increase in prices






41. Brokers who provide clients with analysis and opinions






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






43. Debt obligations of state or local governments






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






45. Bold and high-risk investments






46. Maximum amount of credit a lender will extend to a customer.






47. Bold and high-risk investments






48. Regular and planned investments






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






50. US treasury security that matures in 30 years