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. 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






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






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






4. Enforces securities laws and regulates the securities industry






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






6. 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






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






8. 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.






9. 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.






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






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






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






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






14. Lenders must disclose all costs of credit






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






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






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






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






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






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






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






22. Can be profitable - liquid






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






24. Risky






25. 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.

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






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






28. Spreading out investments to reduce risk






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






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






31. A fixed charge for borrowing money






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






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






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






35. The availability of a good or service






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






37. The desire of a good or service






38. Ability to convert to cash and maintain value






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






40. 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






41. Pursues payments on debts owed by individuals or businesses






42. The increase in price of goods and services






43. 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






44. The value of buying one item over another






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






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






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






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






49. Using computers to carry out transfers of money






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