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. Pursues payments on debts owed by individuals or businesses






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






3. 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






4. Ability to convert to cash and maintain value






5. Expenses that change from month to month






6. The portion of corporate profits paid out to stockholders






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






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






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. The desire of a good or service






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






12. The value of buying one item over another






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






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






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






16. A fixed charge for borrowing money






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






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






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






20. The possibility for loss on an investment






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






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






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






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






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






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






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






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. 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.






30. Time - amount of money - rate of interest






31. Equifax - Experian - TransUnion






32. Spreading out investments to reduce risk






33. 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.






34. Enforces securities laws and regulates the securities industry






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






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






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






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






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






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






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






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






43. Agree to be responsible for loan payments if the other person can't make them






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






45. Risky






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






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






48. Lenders must disclose all costs of credit






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






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