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. Another term for budget






2. The entire amount of money you owe to lenders






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






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






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






6. A unit of ownership in a corporation






7. The chance that inflation will rise faster than the rate of return on an investment






8. 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.'






9. Investors who are afraid to make investments






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






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






12. Earning interest on interest.






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






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






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






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






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






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






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






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






21. Regular and planned investments






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






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






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






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






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






28. Merrill Lynch & Fidelity Investments & American Express






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






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






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






32. The place where stocks are bought and sold.






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






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






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






36. Investing with a series of regular payments; usually associated with life insurance companies






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






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






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






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






41. Bold and high-risk investments






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






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






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






45. Regular and planned investments






46. 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.






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






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






49. Newspapers list of securities






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