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Test your basic knowledge |
DSST Personal Finance 2
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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. Ability to convert to cash and maintain value
National Association of Securities Dealers Automated Quotations (NASDAQ)
long term goals
tips for using credit wisely
liquidity
2. Time - amount of money - rate of interest
certificate of deposit or CD
electronic banking
risk
time value of money
3. Stocks that pay low dividends - but are expected to grow
inflation
growth stocks
demand
interest can be bad for you when....
4. The increase in price of goods and services
variable expenses
opportunity cost
inflation
Landlord
5. A major stock exchange that handles trades through a computerized network - 2nd largest stock exchange
National Association of Securities Dealers Automated Quotations (NASDAQ)
net pay
co-signing a loan
tips for using credit wisely
6. Protects you from the probability that injury - damage or loss will occur
opportunity cost
factors that affect a mortgage
liquidity
how insurance is related to risk management
7. Only responsible for the building and the property in the case of an event like fire - water damage
supply
budget
Landlord
time value of money
8. The total amount of an employee's earnings before deductions are taken out
co-signing a loan
Kelley Blue Book
net pay
gross pay
9. Agree to be responsible for loan payments if the other person can't make them
risk
inflation
co-signing a loan
Truth in Lending Act
10. The value of buying one item over another
Dow Jones
opportunity cost
compound interest
collateral
11. Carefully planned - practical - flexible - written and accessible
supply
collection agency or debt collector
savings account
tips for a successful budget
12. The money left to spend or save after taxes have been paid
wants
demand
Annual percentage rate (APR)
disposable income
13. Disposable income available for spending and saving after an individual has purchased the basic necessities of food - clothing - and shelter
tax deferred
savings account
discretionary income
net pay
14. A term that describes investments on which earnings are not taxed until retirement (ex: 401k - IRA)
time value of money
tax deferred
chapter 13
New York Stock Exchange (NYSE)
15. Money set aside for unforseen expenses in case of injury - loss of job or extra expenses
emergency fund
wants
reasons to invest in stocks
insurance
16. Salary - wages - interest - campital gains - commission
collateral
factors that affect your income
insurance
factors that affect a mortgage
17. The total earnings paid to an employee after payroll taxes and other deductions
net pay
reasons to invest in stocks
things that affect loans
interest can be bad for you when....
18. Pursues payments on debts owed by individuals or businesses
diversification
collection agency or debt collector
compound interest
Law of Supply and Demand
19. Can be profitable - liquid
mutual funds (MF)
reasons to invest in stocks
compound interest
interest can benefit you when...
20. A log of the financial habits of a person who buys on credit.
reasons not to invest in stocks
credit record
tips for a successful budget
Kelley Blue Book
21. You are being paid for it (ex: investment)
return
interest can benefit you when...
collection agency or debt collector
CPI's relation to inflation
22. A fixed charge for borrowing money
interest
factors that affect your income
Truth in Lending Act
compound interest
23. Debts due within the next year (ex: loans - credit cards)
supply
short term debt
tax deferred
debit card
24. Investment that pools money from many investors to invest in stocks - bonds and other securities
Landlord
Federal Open Market Committee (FOMC)
Pay Yourself First (PYF)
mutual funds (MF)
25. Responsible for their own personal belongings in the case of an event like fire - water damage
savings account
Tenant
collateral
tips for a successful budget
26. Interest paid on the principal alone (I=p x r x t)
CPI's relation to inflation
interest
simple interest
co-signing a loan
27. An indicator of stock market prices; based on the share values of 30 blue-chip stocks listed on the New York Stock Exchange
collateral
Dow Jones
fixed expenses
simple interest
28. Using computers to carry out transfers of money
Rule of 72
electronic banking
simple interest
credit report
29. You owe money (ex: credit card - loan)
time value of money
interest can be bad for you when....
mutual funds (MF)
debit card
30. 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.
Landlord
collection agency or debt collector
Annual percentage rate (APR)
credit report
31. Allows pay back of debt with more time - court oversees repayment of plan
fixed expenses
how insurance is related to risk management
chapter 13
Securities and Exchange Commission (SEC)
32. Properties or assets that are offered to secure a loan or other credit; subject to seizure upon default
3 major credit bureaus
collateral
bankruptcy
Truth in Lending Act
33. Lenders must disclose all costs of credit
Truth in Lending Act
gross pay
variable expenses
demand
34. Spreading out investments to reduce risk
interest
financing an item
diversification
Law of Supply and Demand
35. Regulates banks - makes short term loans to banks - conducts monetary policy
credit report
electronic banking
Federal Reserve System (FED)
Rule of 72
36. The possibility for loss on an investment
risk
things that affect loans
Tenant
Truth in Lending Act
37. Insured interest earning savings account with restricted access to the fund; not as easy to get liquid as a savings account
Law of Supply and Demand
variable expenses
factors that affect your income
certificate of deposit or CD
38. The money an investor receives above and beyond the sum of money initially invested
interest
return
Federal Open Market Committee (FOMC)
tax deferred
39. Econoomy - interest rates - supply and demand of housing market - treasury bond rates
diversification
factors that affect a mortgage
financing an item
reasons to invest in stocks
40. Items for enjoyment ex: eating out - entertainment - luxury items
wants
electronic banking
demand
compound interest
41. Protects depository institution accounts - incures commercial banks and savings and loan
chapter 13
Federal Deposit Insurance Corporation (FDIC)
dividend
tips for a successful budget
42. 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
variable expenses
short term goals
bankruptcy
time value of money
43. 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.
Law of Supply and Demand
Rule of 72
Federal Deposit Insurance Corporation (FDIC)
types of risk
44. The portion of corporate profits paid out to stockholders
dividend
co-signing a loan
New York Stock Exchange (NYSE)
blue chip stocks
45. Goal in which you plan to reach in the near future - one year or less
variable expenses
electronic banking
short term goals
Landlord
46. A plan for managing your money for a given period of time
tax deferred
inflation
budget
chapter 7
47. Risky
compound interest
reasons not to invest in stocks
credit record
Federal Deposit Insurance Corporation (FDIC)
48. A way to guarantee your financial protection against various risks
diversification
insurance
compound interest
Federal Open Market Committee (FOMC)
49. Interest calculated on both the principal and the accrued interest (daily - monthly - quarterly - semi-annually - annually)
chapter 13
co-signing a loan
reasons to invest in stocks
compound interest
50. To borrow money from a bank to purchase an item and pay for it over time
financing an item
simple interest
blue chip stocks
Federal Reserve System (FED)
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