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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. Time - amount of money - rate of interest






2. 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






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






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






5. The increase in price of goods and services






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






7. 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






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






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






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






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






12. The possibility for loss on an investment






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






14. Ability to convert to cash and maintain value






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






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






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






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






19. 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.






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






21. The availability of a good or service






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






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






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






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






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






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






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






29. Can be profitable - liquid






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






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






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






33. Spreading out investments to reduce risk






34. 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.






35. Equifax - Experian - TransUnion






36. The value of buying one item over another






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






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






39. Using computers to carry out transfers of money






40. 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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41. Lenders must disclose all costs of credit






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






43. Risky






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






45. A fixed charge for borrowing money






46. Interest rates - length of time to borrow money






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






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






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






50. The portion of corporate profits paid out to stockholders






Can you answer 50 questions in 15 minutes?



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