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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. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






2. Merrill Lynch & Fidelity Investments & American Express






3. The credit union term for a checking account.






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






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






6. Associated with owning stock of only one company






7. Another term for budget






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






9. A general and progressive increase in prices






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






11. 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.'






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






13. Charles Schwab & TD Ameritrade & E*TRADE






14. Property consisting of houses and land






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






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






17. Associated with owning stock of only one company






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






19. 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.






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






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






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






23. The maximum amount an insurance company will pay if you file a claim.






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






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






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






27. US treasury security that matures in 2 & 5 & or 10 years






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






29. 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.'






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






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






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






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






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






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






36. Fee on credit card for making charges above your credit limit.






37. Debt obligations of state or local governments






38. 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.






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






40. The credit union term for a checking account.






41. Brokers who provided little or no information to clients






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






43. Investment choices that will be held for long periods






44. Losses in an investment as a result of the business cycle






45. 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.






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






47. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






48. Newspapers list of securities






49. 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.






50. Losses in an investment as a result of the business cycle







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Can you answer 50 questions in 15 minutes?


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