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. A way to guarantee your financial protection against various risks






2. The value of buying one item over another






3. Time - amount of money - rate of interest






4. Ability to convert to cash and maintain value






5. Expenses that change from month to month






6. 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






7. Can be profitable - liquid






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






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






10. 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






11. Spreading out investments to reduce risk






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






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






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






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






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






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






19. 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






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






21. 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.






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






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






24. Risky






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






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






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






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






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






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






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






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






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






35. A fixed charge for borrowing money






36. 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.






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






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






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






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






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






42. Using computers to carry out transfers of money






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






44. The availability of a good or service






45. Equifax - Experian - TransUnion






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






47. The desire of a good or service






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






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






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