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






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






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






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






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






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






7. Equifax - Experian - TransUnion






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






9. 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.






10. Expenses that change from month to month






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






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






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






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






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






16. Lenders must disclose all costs of credit






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






18. Enforces securities laws and regulates the securities industry






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






20. 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






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






22. Can be profitable - liquid






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






24. 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.


25. The desire of a good or service






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






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






28. 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






29. Using computers to carry out transfers of money






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






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






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






33. The availability of a good or service






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






35. 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






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






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






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






39. The portion of corporate profits paid out to stockholders






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






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






42. Risky






43. Pursues payments on debts owed by individuals or businesses






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






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






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






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






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






49. Interest rates - length of time to borrow money






50. The possibility for loss on an investment