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. The possibility for loss on an investment






2. Pursues payments on debts owed by individuals or businesses






3. Time - amount of money - rate of interest






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






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






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






7. The value of buying one item over another






8. The availability of a good or service






9. The increase in price of goods and services






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






11. Ability to convert to cash and maintain value






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






13. 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






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






15. 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.






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






17. 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






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






19. Using computers to carry out transfers of money






20. The desire of a good or service






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






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






23. Interest rates - length of time to borrow money






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






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






26. 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.

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






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






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






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






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






32. You are being paid for it (ex: investment)






33. 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






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






35. 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






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






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






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






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






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






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






42. Enforces securities laws and regulates the securities industry






43. Can be profitable - liquid






44. Lenders must disclose all costs of credit






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






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






47. A fixed charge for borrowing money






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






49. Spreading out investments to reduce risk






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