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






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






3. Summary of a corporation's financial condition






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






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






6. A chosen pursuit - profession - or occupation






7. Earning interest on interest.






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






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






10. Brokers who provide clients with analysis and opinions






11. Investors who take to take chances






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






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






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






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






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






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






18. Bold and high-risk investments






19. The willingness to give up something you want now in return for something better in the future.






20. Debt obligations of state or local governments






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






22. Brokers who provided little or no information to clients






23. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






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






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






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






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






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






32. Regular and planned investments






33. Associated with owning stock of only one company






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






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






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






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






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






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






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






41. Uncontrollable and unpredictable events that cause an investment to lose value






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






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






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






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






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






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






48. Associated with owning stock of similar groups of businesses






49. Business Weekly & Forbes & Money






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