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






2. 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






3. The availability of a good or service






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






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






6. Time - amount of money - rate of interest






7. The increase in price of goods and services






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






9. The value of buying one item over another






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






11. The desire of a good or service






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






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






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






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






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






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






18. Using computers to carry out transfers of money






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






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






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






22. Stocks that pay low dividends - but are expected to grow






23. 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.


24. Spreading out investments to reduce risk






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






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






27. Risky






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






29. Interest rates - length of time to borrow money






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






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






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






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






34. 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.






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






36. 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






37. Expenses that change from month to month






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






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






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






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






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






43. Equifax - Experian - TransUnion






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






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






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






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






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






49. Can be profitable - liquid






50. A fixed charge for borrowing money