Financial Literacy
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | A group that channels savings to investors (i.e. banks, insurance
companies, savings, loan associations and credit unions)
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| show | Dollars that become available for investors to use when others save
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| Interest | show 🗑
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| Interest Rate | show 🗑
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| show | Privately owned, publicly controlled, central bank of the
United States
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| Federal Deposit Insurance Corporation (FDIC) | show 🗑
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| Credit Unions | show 🗑
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| show | a situation in which the outcome is not certain, but the probabilities can be
estimated
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| Passbook Account | show 🗑
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| show | A savings account with higher interest. Easy but
infrequent withdrawals
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| show | A low risk account where deposits are invested into a pool
of short-term financial accounts
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| Certificate of Deposit (CD) | show 🗑
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| show | An account whose funds can be removed by writing a
check. No need to request for approval for the funds
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| show | Persons or institutions to whom money is owed
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| Collateral | show 🗑
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| show | a loan that is backed up with collateral
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| show | a loan guaranteed by a promise to repay it
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| capital formation | show 🗑
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| show | unincorporated business owned and run by a single person who has rights to all profits and unlimited liability for all debts of the firm;
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| unlimited liability | show 🗑
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| show | situation in which a firm legally ceases to exist when an owner dies or quits, or a new owner is added; applies to sole proprietorships and partnerships
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| show | unincorporated business owned and operated by two or more people who share the profits and have unlimited liability for the debts and obligations of the firm
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| limited partnership | show 🗑
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| show | form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual,
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| stockholder | show 🗑
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| show | certificates of ownership in a corporation; common or preferred stock
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| dividend | show 🗑
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| show | form of stock with no voting privileges; has a higher claim on corporate income and assets than does common stock
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| show | most basic form of corporate ownership, generally with one vote per share for stockholders
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| show | strategy of holding different investments to minimize risk
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| mutual fund | show 🗑
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| stockbroker | show 🗑
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| maturity | show 🗑
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| defaulted | show 🗑
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| show | price for insurance that must be paid monthly, quarterly or annually
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| deductible | show 🗑
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| fixed rate mortgage | show 🗑
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| adjustable rate mortgage (ARM) | show 🗑
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| show | has features from fixed and adjustable rate mortgages
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