SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Financial Literacy Vocab
Start Test
Study First
Subjects
:
literacy
,
personal-finance
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 written legal document directing a bank or credit union to pay a person or business a specific sum of money.
Reconcile
Check
Rate of Return
Fraud Risk
2. A set of principles or beliefs that govern an individual's actions.
Copayment
Tenant
Ethics
Gifts in-kind
3. A company that makes loans for the purchase of a house or other real estate.
Mortgage company
Ethics
Simple Interest
Credit Card
4. Federal government program & financed by deductions from wages that pays for certain health care expenses for older citizens.
Gross income
Goal setting
Medicare
Bankruptcy
5. Payments earned by households for selling or renting their productive resources. May include salaries & wages & interest and dividends
Nonprofit organization
Morals
Tax Deduction
Income
6. A person who owns property and rents it to another.
Identity Theft
Premium
Principal
Landlord
7. A set of principles or beliefs that govern an individual's actions.
Risk
Ethics
Fraud Risk
Goal
8. The chance or likelihood that something will happen.
Tenant
Charitable Giving
Lease
Probability
9. A statement about What a person wants to be & do & or have & accomplished by taking certain steps; provides direction to a plan of action.
Creditor
Rate of Return
Goal
Debit card
10. A measure of the uncertainty of an investment's rate of return; possible losses.
Saving
Check
Bankruptcy
Risk
11. 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)
Probability
Progressive tax
Charitable Giving
Charitable Giving
12. 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.
Annuity
Coinsurance
Lease
Hacking
13. Expenditures that are the same from week to week or month to month; such as mortgage or rent or car payments.
Gifts in-kind
Fixed expenses
Morals
Net income
14. A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest & according to a specific schedule.
Morals
Simple Interest
Benefits-received principle
Credit Card
15. The costs of goods and services & including those that are FIXED (rent & car loans) and those that are VARIABLE (food & clothing & entertainment).
Expenses
Credit Bureau
Nonprofit organization
Mortgage
16. Money earned from investments and employment.
Income
Principal
Goal setting
Identity Theft
17. 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.
Closing Costs
Budget
Check
Individual Retirement Account (IRA)
18. One may hack into your computer or another computer system & including schools & credit card companies & and other places maintaining personal info.
Lease
Hacking
Mortgage company
Savings Accounts
19. The percentage rate of interest charged to the borrower or paid to a lender & saver & or investor.
Rule of 72
Interest Rate
Fraud
Benefits-received principle
20. The process used to determine What an individual wants to be & do or have (What a person wants to accomplish).
Goal setting
Medicare
Check
Coinsurance
21. 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.
401 k
Bankruptcy
Interest Rate
Gross income
22. A person who owns property and rents it to another.
Rule of 72
Landlord
Expenses
Credit Score/Rating
23. Someone who rummages through your trash looking for bills or other paper with your personal information on it.
Career
Copayment
Premium
Dumpster Diving
24. A state or federally chartered & not-for-profit financial cooperative that provides financial services to its member-owners who have met specific requirements.
Interest Rate
Fraud
Variable expenses
Credit union
25. Interest calculated periodically on the loan principal or investment principal only & not on previously earned interest.
Gross income
Saving
Simple Interest
Fixed expenses
26. An account in which an individual may set aside earned income in a tax-deferred savings plan for his or her retirement.
Individual Retirement Account (IRA)
Premium
Ethics
Probability
27. A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement & such as a property owner and tenant.
Credit union
Principal
Nonprofit organization
Lease
28. A financial institution deposit account that pays interest and allows withdrawals. (SHORT term goals)
Charitable Giving
Principal
Savings Accounts
Lease
29. 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.
Fraud
Credit
Budget
Credit Score/Rating
30. Using a person's name or personal information without the person's permission to steal money or get other benefit.
Identity Theft
Social security
Progressive tax
Tenant
31. Expenditures that change from week to week or month to month-- food & clothing & recreation & entertainment.
Credit Report
Simple Interest
Variable expenses
Credit Card
32. Expenditures that change from week to week or month to month-- food & clothing & recreation & entertainment.
Credit Card
Creditor
Consumer Credit Counseling
Variable expenses
33. An expense that a taxpayer can subtract from taxable income. ex: deductions for home mortgage interest & and charitable gifts.
Variable expenses
Creditor
Credit
Tax Deduction
34. The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals & and funds for investing.
Landlord
Saving
Goal setting
Variable expenses
35. A purposeful course of action or purpose in life that generally provides income
Gross income
Income
Career
401 k
36. An establishment that collects and distributes credit history info. of individuals & business.
Credit Bureau
Career
Landlord
Debit card
37. A plastic card used to deduct a purchase amount directly from your checking account.
Fraud Risk
Nonprofit organization
Debit card
Credit
38. A bank or credit union account that allows withdrawals by writing a check.
Deductible
Income
Budget
Checking account
39. A system of values and principles of conduct that promotes good customs and virtues while condemning bad customs and vices.
Saving
Opportunity Cost
Morals
Income
40. Someone who knowingly deceives you for their own personal gain.
Fraud
Annuity
Interest
Mortgage
41. Interest calculated periodically on the loan principal or investment principal only & not on previously earned interest.
Simple Interest
Principal
Credit Card
Expenses
42. A purposeful course of action or purpose in life that generally provides income
Annuity
Benefits-received principle
401 k
Career
43. A loan to finance the purchase of real estate & usually with specified payment periods and interest rates.
Morals
Mortgage
Career
Fixed expenses
44. The percentage rate of interest charged to the borrower or paid to a lender & saver & or investor.
Interest Rate
Credit Score/Rating
Rate of Return
Charitable Giving
45. A federal system of old-age & survivors' & disability & and hospital care (Medicare) insurance which requires employers to withhold wages from employees' paychecks and deposit that money in designated accounts.
Progressive tax
Consumer Credit Counseling
Tax Deduction
Social security
46. The process used to determine What an individual wants to be & do or have (What a person wants to accomplish).
Goal setting
Dumpster Diving
Charitable Giving
Credit union
47. Payments earned by households for selling or renting their productive resources. May include salaries & wages & interest and dividends
Individual Retirement Account (IRA)
Gross income
Mortgage company
Income
48. The value of the second-best alternative that a person gives up when making one choice instead of another.
Fixed expenses
Debit card
Goal
Opportunity Cost
49. 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.
Savings Accounts
Credit Score/Rating
Tenant
Interest Rate
50. Commonly called 'take home pay'; it is your income AFTER all deductions and exemptions.
Net income
Risk
Credit Report
Probability
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests