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Think you know the some basic financial information? Try this quiz and see if you do. . . .

Questions and Answers

1.

A credit report is:
- A.
  
  A list of your financial assets and liabilities
- B.
  
  Your monthly credit card statement
- C.
  
  A loan and bill payment history
- D.
  
  Your credit line with your financial institution
Correct Answer
C. A loan and bill payment history
2.

A reverse mortgage is:
- A.
  
  A rising debt loan
- B.
  
  Only available to someone 62 years of age or older
- C.
  
  Generally not tied to income
- D.
  
  All of the above
Correct Answer
D. All of the above
3.

Who insures your stocks in the stock market?
- A.
  
  The Federal Deposit Insurance Corporation
- B.
  
  The Securities and Exchange Commission
- C.
  
  The U.S. Department of the Treasury
- D.
  
  None of the above
Correct Answer
D. None of the above
4.

In financial transactions, a CD is:
- A.
  
  Certificate of Debt
- B.
  
  Certificate of Deposit
- C.
  
  Citizens Deposit
- D.
  
  Certificate of Collateral
Correct Answer
B. Certificate of Deposit
5.

The "Rule of 72" tells you how long it will take to double your money.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
6.

What do "points" refer to in the home mortgage application process?
- A.
  
  One point equals 1% of the purchase price, paid to the seller
- B.
  
  One point equals 1% of the purchase price, paid the lender
- C.
  
  One point equals 1% of the loan amount, paid to the lender
Correct Answer
C. One point equals 1% of the loan amount, paid to the lender
7.

By using unit pricing at the grocery store, you can easily compare the cost of any brand and any package size.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

Current Version
Dec 13, 2012

Quiz Edited by
ProProfs Editorial Team
Oct 18, 2008

Quiz Created by
Wagatv

Credit Basics

A credit report is:

A reverse mortgage is:

Who insures your stocks in the stock market?

In financial transactions, a CD is:

The "Rule of 72" tells you how long it will take to double your money.

What do "points" refer to in the home mortgage application process?

By using unit pricing at the grocery store, you can easily compare the cost of any brand and any package size.