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






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






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






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






5. The amount a corporation borrowed in a bond situation






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






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






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






10. Charles Schwab & TD Ameritrade & E*TRADE






11. Standard and Poor's and Moody's






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






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






14. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






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






16. Debt obligations of corporations






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






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






19. 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.






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






21. Summary of a corporation's financial condition






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






23. Earning interest on interest.






24. Brokers who provided little or no information to clients






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






26. Brokers who provided little or no information to clients






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






28. 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.'






29. Debt obligations of state or local governments






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






31. Collection of investments






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






33. Another term for budget






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






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






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






37. Regular and planned investments






38. Newspapers list of securities






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






40. 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.






41. 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.






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






43. 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.






44. Expenses that are not fixed.






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






46. Merrill Lynch & Fidelity Investments & American Express






47. A general and progressive increase in prices






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






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






50. The place where stocks are bought and sold.






Can you answer 50 questions in 15 minutes?



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