Test your basic knowledge |

DSST Personal Finance 2

Subjects : dsst, personal-finance, bvat
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. Interest calculated on both the principal and the accrued interest (daily - monthly - quarterly - semi-annually - annually)






2. A log of the financial habits of a person who buys on credit.






3. Oldest and largest by volume traded and market cap (2800 companies) - issued at least 1 million shares worth $100 million - earned more than $10 million in last 3 years






4. The total amount of an employee's earnings before deductions are taken out






5. Cost of credit in the form of the interest rate charged for a full year - cost of credit expressed as a yearly percentage






6. Legal process in which some or all of the assets of a debtor are distributed among the creditors because the debtor is unable to pay his or her debts; the legal process of getting out of debt






7. Be careful using credit cards - understand how much debt you have - pay off debt ASAP - pay off in full and on time - consolidate credit cards to low interest rate card






8. Expenses that change from month to month






9. Items you need to survive ex: food - water






10. Can be profitable - liquid






11. The price of an item will go down if there is little demand or low supply. The price of an item will go up if there is a lot of demand or high amounts of supply.






12. Items for enjoyment ex: eating out - entertainment - luxury items






13. To borrow money from a bank to purchase an item and pay for it over time






14. Set costs that must be paid such as rent - insurance - and car payments






15. The Federal Reserve committee responsible for open market operations and managing the money supply in the United States






16. Goal in which you plan to prepare for and reach in the distant future - over 5 years






17. The increase in price of goods and services






18. Enforces securities laws and regulates the securities industry






19. Risky






20. You are being paid for it (ex: investment)






21. The total earnings paid to an employee after payroll taxes and other deductions






22. Account to help you save money and earn a small amount of interest at the same time






23. Regulates banks - makes short term loans to banks - conducts monetary policy






24. Protects depository institution accounts - incures commercial banks and savings and loan






25. Lenders must disclose all costs of credit






26. Insured interest earning savings account with restricted access to the fund; not as easy to get liquid as a savings account






27. Allows to erase debt - must be unemployed of low income - must seek counseling - keeps only exempt property






28. Protects you from the probability that injury - damage or loss will occur






29. The money an investor receives above and beyond the sum of money initially invested






30. Equifax - Experian - TransUnion






31. An indicator of stock market prices; based on the share values of 30 blue-chip stocks listed on the New York Stock Exchange






32. A term that describes investments on which earnings are not taxed until retirement (ex: 401k - IRA)






33. High-priced common stocks that have been strong - profitable stocks for a long period of time.






34. The value of buying one item over another






35. Debts due within the next year (ex: loans - credit cards)






36. Allows pay back of debt with more time - court oversees repayment of plan






37. A card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account






38. Carefully planned - practical - flexible - written and accessible






39. Disposable income available for spending and saving after an individual has purchased the basic necessities of food - clothing - and shelter






40. The desire of a good or service






41. A plan for managing your money for a given period of time






42. Salary - wages - interest - campital gains - commission






43. Income risk - personal risk - liquidity risk - interest rate risk






44. A report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness.






45. Using computers to carry out transfers of money






46. You owe money (ex: credit card - loan)






47. Time - amount of money - rate of interest






48. Money set aside for unforseen expenses in case of injury - loss of job or extra expenses






49. The money left to spend or save after taxes have been paid






50. Consumer Price Index is the measure that examines the weighted average of prices of a basket of consumer goods and services - such as transporation - food and medical care.