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






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






3. The desire of a good or service






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






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






6. 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.






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






8. Equifax - Experian - TransUnion






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






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






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






12. Enforces securities laws and regulates the securities industry






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






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






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






16. Using computers to carry out transfers of money






17. The increase in price of goods and services






18. Lenders must disclose all costs of credit






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






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






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






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






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






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






25. 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






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






27. Risky






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






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






30. Pursues payments on debts owed by individuals or businesses






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






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






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






34. Time - amount of money - rate of interest






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






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






37. 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






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






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






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






41. The availability of a good or service






42. 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






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






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






45. The possibility for loss on an investment






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






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






48. Interest rates - length of time to borrow money






49. 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.






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