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. Salary - wages - interest - campital gains - commission






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






3. Pursues payments on debts owed by individuals or businesses






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






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






6. The availability of a good or service






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






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






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






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






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






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






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






14. 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






15. The possibility for loss on an investment






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






17. Equifax - Experian - TransUnion






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






19. Enforces securities laws and regulates the securities industry






20. A fixed charge for borrowing money






21. Can be profitable - liquid






22. 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






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






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






25. The value of buying one item over another






26. Risky






27. Time - amount of money - rate of interest






28. 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.


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






30. The increase in price of goods and services






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






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






33. Using computers to carry out transfers of money






34. Ability to convert to cash and maintain value






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






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






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






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






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






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






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






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






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






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






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. 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






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






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