Test your basic knowledge |

DSST Personal Finance 2

Subjects : dsst, personal-finance, bvat
  • 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. Allows to erase debt - must be unemployed of low income - must seek counseling - keeps only exempt property

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

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

4. 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

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

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

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

8. 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

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

10. Pursues payments on debts owed by individuals or businesses

11. Using computers to carry out transfers of money

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

13. Interest rates - length of time to borrow money

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

15. Enforces securities laws and regulates the securities industry

16. Lenders must disclose all costs of credit

17. 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.

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

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

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

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

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

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

24. 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

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

26. The value of buying one item over another

27. 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

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

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

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

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

32. Ability to convert to cash and maintain value

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

34. Expenses that change from month to month

35. 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.

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

37. Time - amount of money - rate of interest

38. Can be profitable - liquid

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

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

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

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

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

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

45. The portion of corporate profits paid out to stockholders

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

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

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

49. The increase in price of goods and services

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.