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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. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
permanent investment
bank
risk
annual fee
2. Brokers who provide clients with analysis and opinions
time value of money
variable expenses
credit score
full-service broker
3. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
origination fee
budget
periodic or occasional expenses
stocks
4. Business Weekly & Forbes & Money
ATM - Automatic Teller Machine
origination fee
well-know financial magazines
capital loss
5. A bank account against which the depositor can draw checks payable on demand.
credit score
debt
checking account
US Treasury Bills
6. A payroll deduction collected by employers by law and sent to the state government to support state services.
capital loss
capital gain
state income tax
Investing
7. Conservative investing; used when you have 'excess' savings
initial investing
systematic investing
industry risk
periodic or occasional expenses
8. Brokers who provided little or no information to clients
pay yourself first - P.Y.F.
systematic investing
discount brokers
corporate bonds
9. The portion of the profits paid to the shareholders of a company.
financial advisers
dividend
credit report
debt
10. Newspapers list of securities
bond
financial pages
well-know full-service brokers
credit limit
11. A unit of ownership in a corporation
stock market
stocks
yield
bond
12. Pooling of money from many investors to buy a large & diverse selection of securities
mutual funds
options
rate of return
corporate bonds
13. A government sector that requires all public corporations to make annual reports available to their stockholders
Securities and Exchange Commission
annual report
coverage limit
Rule of 72
14. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.
well-known investor services
phishing
inflation
credit report
15. Conservative investing; used when you have 'excess' savings
Personal Identification Number - PIN
initial investing
investing risk
credit history
16. Investment choices that will be held for long periods
futures
maturity date
permanent investment
put-and-take account
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.
industry risk
non-market risk
APR - Average Percentage Rate
US Treasury Bills
18. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
strategic investing
savings
ATM - Automatic Teller Machine
compounding interest rate
19. The credit union term for a savings account.
ATM - Automatic Teller Machine
share account
Rule of 72
short term goal
20. Property consisting of houses and land
non-market risk
rate of return
real estate
company risk
21. Things that add comfort and pleasure to your life but you can live without if you need to.
wants
full-service broker
share draft account
ATM - Automatic Teller Machine
22. A bank account against which the depositor can draw checks payable on demand.
checking account
Rule of 72
discount brokers
wants
23. Debt obligations of corporations
diversification
strategic investing
permanent investment
corporate bonds
24. The date on which the borrowed money must be repaid
bond
stocks
maturity date
short term goal
25. An amount that credit card companies can charge for the use of a credit card.
annual fee
time value of money
credit union
bankruptcy
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.
savings account
political risk
financial advisers
capital gain
27. The amount a corporation pays at a fixed amount when repaying a bond
principal
well-know full-service brokers
interest
rate of return
28. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
options
over-the-limit fee
debt
company risk
29. The increase or decrease in the original purchase price of an investment over a period of time.
initial investing
spyware
risk taker
rate of return
30. The willingness to give up something you want now in return for something better in the future.
Rule of 72
delayed gratification
credit score
annual fee
31. Investing with a series of regular payments; usually associated with life insurance companies
rate of return
spending plan
well-know full-service brokers
annuities
32. Investment choices that will be re-evaluated within a year or less
Temporary investment
savings
credit limit
risk averse
33. A technique used for estimating the number of years required to double your money at a given rate
debit card
investor services
Rule of 72
bank
34. Merrill Lynch & Fidelity Investments & American Express
compounding interest rate
grace period
well-know financial magazines
well-know full-service brokers
35. Expenses that aren't paid every month and can be either fixed or variable.
Series I Savings Bond
full-service broker
coverage limit
periodic or occasional expenses
36. A unit of ownership in a corporation
diversification
stocks
universal default
Rule of 72
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.
spyware
political risk
Rule of 72
grace period
38. Associated with owning stock of only one company
risk management
spending plan
industry risk
company risk
39. Standard and Poor's and Moody's
chapter 13
well-known investor services
real estate
investor services
40. Low-priced stocks of small companies that have no track record
budget
share draft account
cash flow
penny stocks
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.'
opportunity cost
interest
short term goal
debit card
42. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
Series I Savings Bond
capital loss
annual fee
interest-rate risk
43. Bold and high-risk investments
capital loss
put-and-take account
yield
speculative investments
44. Investing with a series of regular payments; usually associated with life insurance companies
annuities
credit
compounding interest rate
principal
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.
risk averse
Personal Identification Number - PIN
Investing
savings account
46. Maximum amount of credit a lender will extend to a customer.
options
credit limit
financial advisers
interest
47. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
share draft account
investing risk
interest-rate risk
grace period
48. A chosen pursuit - profession - or occupation
career
phishing
financial advisers
Series EE Savings Bond
49. A chosen pursuit - profession - or occupation
career
real estate
systematic investing
stock
50. Smaller decisions that can result from a major decision.
satellite decisions
US Treasury Bills
capital gain
tax deferred
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