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






2. The credit union term for a savings account.






3. The entire amount of money you owe to lenders






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






5. Charles Schwab & TD Ameritrade & E*TRADE






6. The credit union term for a savings account.






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






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






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






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






11. Standard and Poor's and Moody's






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






13. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






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






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






16. Debt obligations of corporations






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






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






19. A bad side effect of free downloads that may be used to send you pop-up ads - redirect your computer to unwanted Web sites - monitor your Internet surfing - or record your keystrokes in an effort to steal your identity.






20. Wall Street Journal and Barron's






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






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






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






24. US treasury security that matures in 30 years






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






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






27. Associated with owning stock of similar groups of businesses






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






29. Business Weekly & Forbes & Money






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






31. Collection of investments






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






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






34. 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.






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






36. Expenses that are not fixed.






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






38. Newspapers list of securities






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






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






41. Debt obligations of corporations






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






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






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






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






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






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






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






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






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