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Test your basic knowledge |
Financial Literacy Basics
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Subjects
:
literacy
,
personal-finance
Instructions:
Answer 50 questions in 15 minutes.
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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. Associated with owning stock of only one company
bank
principal
diversification
company risk
2. The process of dealing with the chance of a potential personal or financial loss.
checking account
risk management
initial investing
US Treasury Notes
3. Another term for budget
portfolio
cash flow
initial investing
spending plan
4. Wall Street Journal and Barron's
bank
rate of return
well-known financial newspapers
variable expenses
5. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
collectibles
US Treasury Notes
state income tax
credit union
6. A form of bankruptcy that allows you to erase most of your debt.
bank
capital gain
chapter 7
checking account
7. Actions that the government might take that would reduce the value of an investment
origination fee
inflation
political risk
values
8. Amount of money that is set aside for future purchases
savings
annuities
credit
US Treasury Notes
9. The unique passcode number you use to get access to your savings and/or checking account
US Treasury Notes
well-known financial newspapers
systematic investing
Personal Identification Number - PIN
10. An amount that credit card companies can charge for the use of a credit card.
speculative investments
US Treasury Bonds
maturity date
annual fee
11. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
capital loss
diversification
mutual funds
coverage limit
12. Investors who take to take chances
risk taker
grace period
initial investing
tax deferred
13. The entire amount of money you owe to lenders
credit
annual fee
debt
credit union
14. Standard and Poor's and Moody's
Rule of 72
deductible
dividend
well-known investor services
15. The chance that inflation will rise faster than the rate of return on an investment
interest-rate risk
values
risk
annual report
16. Low-priced stocks of small companies that have no track record
grace period
penny stocks
capital gain
annual fee
17. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
diversification
credit history
options
initial investing
18. Reducing investment risk by putting money in several different types of investments.
diversification
principal
ATM - Automatic Teller Machine
interest-rate risk
19. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
stock market
capital loss
credit
spending plan
20. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
Temporary investment
budget
origination fee
market risk
21. Spreading risk among many types of investments; one way to minimize risk
periodic or occasional expenses
dividend
diversification
investor services
22. 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.
compounding interest rate
social security tax
US Treasury Notes
delayed gratification
23. A formal contract to repay borrowed money with interest at fixed intervals
Rule of 72
budget
bond
industry risk
24. Property consisting of houses and land
real estate
wants
cash flow
put-and-take account
25. A goal to be achieved within the next three months.
pay yourself first - P.Y.F.
short term goal
corporate bonds
Series I Savings Bond
26. The use of long-term savings to earn a financial return
investor services
well-known financial newspapers
well-known discount brokers
Investing
27. Uncontrollable and unpredictable events that cause an investment to lose value
non-market risk
checking account
Series I Savings Bond
wants
28. A spending plan for managing money during a given period of time.
investing risk
Investing
annuities
budget
29. A detailed record of your personal credit and financial transactions.
risk averse
checking account
credit report
mutual fund
30. The portion of the profits paid to the shareholders of a company.
savings account
dividend
investor services
credit score
31. A legal process to get out of debt when you can no longer make all your required payments.
bankruptcy
budget
career
diversification
32. A formal contract to repay borrowed money with interest at fixed intervals
Temporary investment
company risk
well-known financial newspapers
bond
33. The credit union term for a checking account.
share draft account
share account
systematic investing
chapter 13
34. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
full-service broker
risk taker
ATM - Automatic Teller Machine
risk taker
35. Fee on credit card for making charges above your credit limit.
full-service broker
over-the-limit fee
risk
annual report
36. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
time value of money
interest
corporate bonds
risk averse
37. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
capital gain
put-and-take account
well-known discount brokers
ATM - Automatic Teller Machine
38. 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.
APR - Average Percentage Rate
chapter 13
investor services
mutual fund
39. Pooling of money from many investors to buy a large & diverse selection of securities
options
annuities
mutual funds
spending plan
40. The credit union term for a checking account.
career
social security tax
share draft account
stock market
41. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
Investing
chapter 13
diversification
maturity date
42. Another term for budget
bond
spending plan
inflation
maturity date
43. Fee on credit card for making charges above your credit limit.
Personal Identification Number - PIN
Securities and Exchange Commission
investor services
over-the-limit fee
44. Merrill Lynch & Fidelity Investments & American Express
well-know full-service brokers
deductible
diversification
debit card
45. Losses in an investment as a result of the business cycle
dollar cost average
market risk
cash flow
Series EE Savings Bond
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.
permanent investment
portfolio
debit card
universal default
47. US treasury security that matures from a few days to one year
company risk
Temporary investment
chapter 13
US Treasury Bills
48. Bonds designed for investors wanting to protect again inflation losses
Series I Savings Bond
inflation
savings
mutual fund
49. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
Series EE Savings Bond
annual report
annual report
chapter 13
50. Business Weekly & Forbes & Money
well-know financial magazines
investor services
social security tax
risk taker
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