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. Time - amount of money - rate of interest






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






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






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






6. 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.






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






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






9. The portion of corporate profits paid out to stockholders






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






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






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






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






14. The availability of a good or service






15. The increase in price of goods and services






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






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






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






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






20. Using computers to carry out transfers of money






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






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






23. Ability to convert to cash and maintain value






24. 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






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






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






27. Pursues payments on debts owed by individuals or businesses






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






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






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






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






32. Expenses that change from month to month






33. A fixed charge for borrowing money






34. Lenders must disclose all costs of credit






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






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






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






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






39. 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.






40. Interest rates - length of time to borrow money






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






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






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






44. 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






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






46. Equifax - Experian - TransUnion






47. 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






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






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






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