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






2. Formula used to calculate how many years it would take to double an investment






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






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






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






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






7. The availability of a good or service






8. Ability to convert to cash and maintain value






9. 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






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






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






12. Responsible for their own personal belongings in the case of an event like fire - water damage






13. Lenders must disclose all costs of credit






14. The increase in price of goods and services






15. Risky






16. Source of information in determining a fair price for a vehicle - new or used






17. Properties or assets that are offered to secure a loan or other credit; subject to seizure upon default






18. Goal in which you plan to reach in the near future - one year or less






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






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






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






22. A way to guarantee your financial protection against various risks






23. Investment that pools money from many investors to invest in stocks - bonds and other securities






24. Equifax - Experian - TransUnion






25. The value of buying one item over another






26. 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.


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






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






29. Interest paid on the principal alone (I=p x r x t)






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






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






32. Taking a certain amount of all money you receive and saving it to be used for spending on longer-term goals.






33. The portion of corporate profits paid out to stockholders






34. Only responsible for the building and the property in the case of an event like fire - water damage






35. The desire of a good or service






36. Interest calculated on both the principal and the accrued interest (daily - monthly - quarterly - semi-annually - annually)






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






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






39. Spreading out investments to reduce risk






40. 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.






41. Econoomy - interest rates - supply and demand of housing market - treasury bond rates






42. Can be profitable - liquid






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






44. A fixed charge for borrowing money






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






46. A major stock exchange that handles trades through a computerized network - 2nd largest stock exchange






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






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






49. Using computers to carry out transfers of money






50. 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