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. Enforces securities laws and regulates the securities industry






2. 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.






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






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






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






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






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






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






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






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






11. Can be profitable - liquid






12. 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.






13. A fixed charge for borrowing money






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






15. Pursues payments on debts owed by individuals or businesses






16. The value of buying one item over another






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






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






19. Lenders must disclose all costs of credit






20. Interest rates - length of time to borrow money






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






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






23. Spreading out investments to reduce risk






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






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






26. Using computers to carry out transfers of money






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






28. The increase in price of goods and services






29. 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






30. Ability to convert to cash and maintain value






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






47. Equifax - Experian - TransUnion






48. The possibility for loss on an investment






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






50. 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