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Financial Literacy Vocab

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. Costs paid when buying a house or real estate.






2. Expenditures that are the same from week to week or month to month; such as mortgage or rent or car payments.






3. An establishment that collects and distributes credit history info. of individuals & business.






4. A long-term loan to buy real estate including land and the structures on it.






5. Payments earned by households for selling or renting their productive resources. May include salaries & wages & interest and dividends






6. An official record of a borrower's credit history & including such information as the amount and type of credit used & outstanding balances & and any delinquencies & bankruptcies & or tax liens.






7. A measure of the uncertainty of an investment's rate of return; possible losses.






8. Payment for the use of someone else's money






9. An amount of money that the member or insured pays directly to a provider at the time services are rendered.






10. A measure of creditworthiness based on an analysis of the consumer's financial history & often computed as a numerical score & using the FICO or other scoring systems to analyze the consumer's credit.






11. Using a person's name or personal information without the person's permission to steal money or get other benefit.






12. Commonly called 'take home pay'; it is your income AFTER all deductions and exemptions.






13. A written legal document directing a bank or credit union to pay a person or business a specific sum of money.






14. Someone who rummages through your trash looking for bills or other paper with your personal information on it.






15. One may hack into your computer or another computer system & including schools & credit card companies & and other places maintaining personal info.






16. The chance or likelihood that something will happen.






17. Expenditures that are the same from week to week or month to month; such as mortgage or rent or car payments.






18. An expense that a taxpayer can subtract from taxable income. ex: deductions for home mortgage interest & and charitable gifts.






19. An account in which an individual may set aside earned income in a tax-deferred savings plan for his or her retirement.






20. Using a person's name or personal information without the person's permission to steal money or get other benefit.






21. A financial institution deposit account that pays interest and allows withdrawals. (SHORT term goals)






22. Federal government program & financed by deductions from wages that pays for certain health care expenses for older citizens.






23. Someone who rummages through your trash looking for bills or other paper with your personal information on it.






24. A retirement plan that allows employees in private companies to make contributions of pre-tax dollars to a company pool that is then invested in stocks & bonds & or money markets.






25. A plan for managing money & dividing up expected income and expenses among spending and saving options based on personal goals during a given time period.






26. The value of the second-best alternative that a person gives up when making one choice instead of another.






27. A plastic card used to deduct a purchase amount directly from your checking account.






28. The process of comparing personal bank account records to the bank's records of that account balance in order to uncover any possible discrepancies.






29. A loan to finance the purchase of real estate & usually with specified payment periods and interest rates.






30. How fast money in savings account or investment grows.






31. A person who owns property and rents it to another.






32. Taking risks with personal finances or personal assets






33. Payment for the use of someone else's money






34. The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals & and funds for investing.






35. The act of giving to charitable organizations or to those in need.






36. A person who pays rent; the legal name for a renter.






37. A long-term loan to buy real estate including land and the structures on it.






38. A written legal document directing a bank or credit union to pay a person or business a specific sum of money.






39. Dollar amount or percentage of a loss that is not insured & as specified in an insurance policy.






40. The chance that an investment has been misrepresented.






41. A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest & according to a specific schedule.






42. A person who owns property and rents it to another.






43. The percentage rate of interest charged to the borrower or paid to a lender & saver & or investor.






44. Commonly called 'take home pay'; it is your income AFTER all deductions and exemptions.






45. A statement about What a person wants to be & do & or have & accomplished by taking certain steps; provides direction to a plan of action.






46. A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest & according to a specific schedule.






47. A company that makes loans for the purchase of a house or other real estate.






48. How fast money in savings account or investment grows.






49. The process used to determine What an individual wants to be & do or have (What a person wants to accomplish).






50. Money earned from investments and employment.