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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. 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.






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






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






5. 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.






6. Someone who knowingly deceives you for their own personal gain.






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






8. 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.






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






10. 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)






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






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






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






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






15. 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.






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






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






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






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






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






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






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






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






24. The chance that an investment has been misrepresented.






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






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






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






28. A non-cash contribution to a charitable organization which can be given a cash value.






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.






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






31. The chance that an investment has been misrepresented.






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






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






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






35. The chance or likelihood that something will happen.






36. A purposeful course of action or purpose in life that generally provides income






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






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






39. 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.






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






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






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






43. Anything subtracted from your gross income.






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






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






46. Money earned from investments and employment.






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






48. The original amount of money deposited or invested.






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






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