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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. A state or federally chartered & not-for-profit financial cooperative that provides financial services to its member-owners who have met specific requirements.






2. The percentage of the costs of medical services paid by the patient.






3. The chance that an investment has been misrepresented.






4. The fee paid for insurance protection.






5. Money earned from investments and employment.






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






7. Expenditures that change from week to week or month to month-- food & clothing & recreation & entertainment.






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






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






10. The percentage of the costs of medical services paid by the patient.






11. A state of being legally released from the obligation to repay some or all debt in exchange for the forced loss of certain assets.






12. The chance that an investment has been misrepresented.






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






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






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






16. A bank or credit union account that allows withdrawals by writing a check.






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






18. The chance or likelihood that something will happen.






19. A set of principles or beliefs that govern an individual's actions.






20. Anything subtracted from your gross income.






21. A contract between an individual and an insurance company where the individual makes a payments that are invested by the company and repaid to the individual at a later date & generally during retirement.






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






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






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






25. A set of principles or beliefs that govern an individual's actions.






26. A person or company to whom money is owed.






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






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






29. The original amount of money deposited or invested.






30. 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.






31. Wages or salary before deductions for taxes and other purposes.






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






33. Anything subtracted from your gross income.






34. The fee paid for insurance protection.






35. A legal organization providing services or activities without commercial or monetary gain.






36. Costs paid when buying a house or real estate.






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






38. An agreement to provide goods & services & or money in exchange for future payments with interest by a specific date or according to a specific schedule.






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






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






41. Wages or salary before deductions for taxes and other purposes.






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






43. 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.






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






45. A person or company to whom money is owed.






46. The original amount of money deposited or invested.






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






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






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






50. A tax that takes a larger percentage of income from people in higher-income groups than from people in lower-income ones; (Example - U.S. federal income tax)