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. The desire of a good or service






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






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






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






5. Enforces securities laws and regulates the securities industry






6. Can be profitable - liquid






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






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






9. 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






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






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






12. Lenders must disclose all costs of credit






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






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






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






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






17. The availability of a good or service






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






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






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






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






22. 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.


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






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






25. Ability to convert to cash and maintain value






26. Interest rates - length of time to borrow money






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






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






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






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






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






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






33. Time - amount of money - rate of interest






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






35. 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.






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






37. Risky






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






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






40. The portion of corporate profits paid out to stockholders






41. Expenses that change from month to month






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






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






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






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






46. Equifax - Experian - TransUnion






47. Using computers to carry out transfers of money






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






49. Spreading out investments to reduce risk






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