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






2. Brokers who provide clients with analysis and opinions






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






4. Business Weekly & Forbes & Money






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






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






7. Conservative investing; used when you have 'excess' savings






8. Brokers who provided little or no information to clients






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






10. Newspapers list of securities






11. A unit of ownership in a corporation






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






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






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






15. Conservative investing; used when you have 'excess' savings






16. Investment choices that will be held for long periods






17. 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.






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






19. The credit union term for a savings account.






20. Property consisting of houses and land






21. Things that add comfort and pleasure to your life but you can live without if you need to.






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






23. Debt obligations of corporations






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






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






26. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






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






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






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






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






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






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






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






34. Merrill Lynch & Fidelity Investments & American Express






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






36. A unit of ownership in a corporation






37. 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.






38. Associated with owning stock of only one company






39. Standard and Poor's and Moody's






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






41. 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.'






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






43. Bold and high-risk investments






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






45. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






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






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






48. A chosen pursuit - profession - or occupation






49. A chosen pursuit - profession - or occupation






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







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Can you answer 50 questions in 15 minutes?


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