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






2. Ability to convert to cash and maintain value






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






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






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






6. Interest rates - length of time to borrow money






7. Risky






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






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






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






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






12. Expenses that change from month to month






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






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






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






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






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






18. 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






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






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






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






22. The value of buying one item over another






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






24. Using computers to carry out transfers of money






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






26. Enforces securities laws and regulates the securities industry






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






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






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






30. The availability of a good or service






31. 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.


32. Can be profitable - liquid






33. 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.






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






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






36. The portion of corporate profits paid out to stockholders






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






38. The desire of a good or service






39. Pursues payments on debts owed by individuals or businesses






40. The increase in price of goods and services






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






42. Time - amount of money - rate of interest






43. 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






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






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






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






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






48. 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






49. 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






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