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






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






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






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






5. The portion of corporate profits paid out to stockholders






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






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






8. 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.


9. A fixed charge for borrowing money






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






11. Using computers to carry out transfers of money






12. The value of buying one item over another






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






14. 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.






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






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






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






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






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






20. Risky






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






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






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






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






26. Pursues payments on debts owed by individuals or businesses






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






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






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






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






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






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






33. Can be profitable - liquid






34. Ability to convert to cash and maintain value






35. Equifax - Experian - TransUnion






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






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






38. The availability of a good or service






39. The increase in price of goods and services






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






41. Enforces securities laws and regulates the securities industry






42. 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






43. 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






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






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






46. Interest rates - length of time to borrow money






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






48. Lenders must disclose all costs of credit






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






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