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






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






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






4. The possibility for loss on an investment






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






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






7. Interest rates - length of time to borrow money






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






9. The desire of a good or service






10. The portion of corporate profits paid out to stockholders






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






12. 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.






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






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






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






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






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






18. 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






19. 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






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






21. 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.






22. Lenders must disclose all costs of credit






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






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






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






26. Time - amount of money - rate of interest






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






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






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






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






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






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






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






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






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






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






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






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






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






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






42. A fixed charge for borrowing money






43. Enforces securities laws and regulates the securities industry






44. Expenses that change from month to month






45. Using computers to carry out transfers of money






46. Ability to convert to cash and maintain value






47. Spreading out investments to reduce risk






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






49. The value of buying one item over another






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