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. Equifax - Experian - TransUnion






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






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






4. The value of buying one item over another






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






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






7. Risky






8. 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






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






10. 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.


11. Pursues payments on debts owed by individuals or businesses






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






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






14. 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






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






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






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






18. Using computers to carry out transfers of money






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






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






21. Time - amount of money - rate of interest






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






23. Expenses that change from month to month






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






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






26. Ability to convert to cash and maintain value






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






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






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






30. 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.






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






32. 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.






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






34. Interest rates - length of time to borrow money






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






36. Can be profitable - liquid






37. 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






38. The possibility for loss on an investment






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






40. The desire of a good or service






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






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






43. The increase in price of goods and services






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






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






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






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






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






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






50. Enforces securities laws and regulates the securities industry