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. Summary of a corporation's financial condition






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






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






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






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






6. The use of long-term savings to earn a financial return






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






8. The entire amount of money you owe to lenders






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






10. Associated with owning stock of only one company






11. Brokers who provided little or no information to clients






12. Debt obligations of corporations






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






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






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






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






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






18. The credit union term for a checking account.






19. Expenses that are not fixed.






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






21. US treasury security that matures in 30 years






22. Bold and high-risk investments






23. The total amount of what it costs you to use credit in a given year. It is expressed as a percentage of the amount borrowed.






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






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






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






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






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






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






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






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






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






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






34. Associated with owning stock of only one company






35. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






36. Investors who are afraid to make investments






37. Business Weekly & Forbes & Money






38. The credit union term for a savings account.






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






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






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






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






43. 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.






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






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






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






47. Debt obligations of corporations






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






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






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