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. The credit union term for a checking account.






2. Summary of a corporation's financial condition






3. The entire amount of money you owe to lenders






4. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.






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






6. 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.






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






8. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






9. Newspapers list of securities






10. Investment choices that will be held for long periods






11. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






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






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






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






15. The entire amount of money you owe to lenders






16. Reducing investment risk by putting money in several different types of investments.






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






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






19. Charles Schwab & TD Ameritrade & E*TRADE






20. Companies that provide extensive financial data to clients






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






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






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






24. 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.






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






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






27. A summary of a person's borrowing and repayment history.






28. 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.






29. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






30. The profit from an investment.






31. A unit of ownership in a corporation






32. Brokers who provide clients with analysis and opinions






33. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






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






35. Actions that the government might take that would reduce the value of an investment






36. Bold and high-risk investments






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






38. Investors who are afraid to make investments






39. The credit union term for a savings account.






40. 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.






41. Brokers who provide clients with analysis and opinions






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






43. Investment choices that will be held for long periods






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






45. A legal process to get out of debt when you can no longer make all your required payments.






46. Debt obligations of corporations






47. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






48. 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.






49. Actions that the government might take that would reduce the value of an investment






50. Collection of investments