WorksheetsFinancial Terms Quizs
Total questions: 20
Worksheet time: 10mins
Interest
Money you are paid for lending money or the amount of money that is added to the money you borrowed.
A fee charged for using a credit card.
The total amount of money you owe after borrowing.
A type of investment that guarantees returns.
Automatic Teller Machine (ATM)
A device used to withdraw cash from a bank account.
A computer terminal used to conduct business with a financial institution or purchase items like postage stamps or transportation tickets.
A machine that only dispenses cash without any other functions.
A type of vending machine for snacks and drinks.
Bond
A type of stock that represents ownership in a company.
A certificate representing the purchaser’s agreement to lend a business or government money on the promise the debt will be paid—with interest—at a specific time.
A legal document that outlines the terms of a loan between two parties.
A financial instrument that guarantees a fixed return on investment.
Assets
What a person owns—cash, stocks, bonds, real estate, personal possessions, etc.
A type of liability that represents what a person owes.
A financial statement that summarizes a person's income and expenses.
A method of investing in the stock market.
Debt
Something owed; usually measured in dollars.
A type of investment that generates income.
A financial term for profit made from sales.
A legal document for borrowing money.
Bankruptcy
The state of being legally released from the obligation to repay all or some debt in exchange for the forced loss of certain assets; remains on a consumer’s credit record for 10 years.
A financial status where an individual has more assets than liabilities and is able to pay off debts.
A legal process that allows individuals to consolidate their debts into a single payment plan without losing any assets.
A situation where a person is unable to pay their debts but does not seek legal protection.
Appreciation
A decrease in value or price.
A rise in value or price.
A stable value or price.
A temporary increase in value.
Emergency Fund
Money set aside specifically for an emergency such as a major accident, or loss of a job, usually recommended at least three months’ salary.
A savings account used for everyday expenses and bills.
An investment account for long-term growth and retirement savings.
A fund used to pay for luxury items and vacations.
Inflation
A decrease in the price of goods over time.
A general increase in the price of goods over time.
A measure of economic growth.
A type of government tax policy.
Loan
Something that is given as a gift without expectation of return.
Something that is lent; allowed to be issued for a period of time. If the loan is money, it is often repaid with interest.
A type of investment that guarantees a return.
A financial term for a type of savings account.
Investment
Putting money into assets (like stocks, bonds, mutual funds, etc.) to help you reach your financial goals.
Saving money in a bank account with no interest.
Buying a car to use for personal transportation.
Donating money to charity without expecting anything in return.
Collection Agency
A business that specializes in obtaining payments from debtors who have defaulted on their loans.
A company that provides financial advice to individuals and businesses.
An organization that offers loans to consumers with low credit scores.
A service that helps people manage their personal budgets.
Bank
A state or federally chartered for-profit financial institution that offers commercial and consumer loans and other financial services.
A non-profit organization that provides financial assistance to individuals in need.
A government agency that regulates the stock market and financial institutions.
A private company that specializes in investment banking and mergers.
Stock
An investment in a share of a company that is sold to the public.
A type of bond issued by the government.
A savings account with a fixed interest rate.
A loan taken out to purchase real estate.
Credit Union
A state or federally owned not-for-profit financial cooperative that provides financial services to its members-owners, who have met specific employment, residence, or other eligibility requirements.
A for-profit financial institution that offers loans and credit cards to the general public.
A government agency that regulates financial institutions and ensures consumer protection.
A private bank that requires a minimum balance to open an account.
Deposit
A sum of money put into a bank account.
A type of loan given by a bank.
A fee charged for account maintenance.
A withdrawal of funds from an account.
Budget
A financial plan that outlines expected income and expenses over a specific period.
A record of actual income and expenses without projections.
A document that only tracks expenses without considering income.
A spending plan; a record of projected and actual income and expenses over a period of time.
Retirement Plan
A plan provided by an employer or a self-employed individual for retirement.
A savings account for short-term goals.
An investment strategy for young professionals.
A health insurance policy for seniors.
Mortgage
A short-term loan for personal expenses.
A long-term loan to buy real estate (land and the structures on it).
A type of insurance for property damage.
A government grant for home buyers.
Late Fee
Charge levied against a client for not paying a bill by its due date.
A discount offered for early payment of a bill.
A fee charged for exceeding a credit limit.
A penalty for canceling a service before the contract ends.
