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






2. 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.






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






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






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






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






7. 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






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






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






10. 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






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






12. Enforces securities laws and regulates the securities industry






13. Can be profitable - liquid






14. 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.






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






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






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






18. Pursues payments on debts owed by individuals or businesses






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






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






21. The availability of a good or service






22. Time - amount of money - rate of interest






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






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






25. Risky






26. Interest rates - length of time to borrow money






27. Ability to convert to cash and maintain value






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






29. The money left to spend or save after taxes have been paid






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






33. Expenses that change from month to month






34. The possibility for loss on an investment






35. Lenders must disclose all costs of credit






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






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






38. The increase in price of goods and services






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






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






41. Equifax - Experian - TransUnion






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






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






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






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






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






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






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






49. 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






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