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






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






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






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






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






6. Equifax - Experian - TransUnion






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






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






9. 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






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






11. Can be profitable - liquid






12. 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






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






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. Using computers to carry out transfers of money






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






17. The increase in price of goods and services






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






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






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






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






22. The portion of corporate profits paid out to stockholders






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






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






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






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






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






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






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






30. 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






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






32. Expenses that change from month to month






33. 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.


34. Enforces securities laws and regulates the securities industry






35. Lenders must disclose all costs of credit






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






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






38. The possibility for loss on an investment






39. The value of buying one item over another






40. Risky






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






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






43. Time - amount of money - rate of interest






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






45. A fixed charge for borrowing money






46. Ability to convert to cash and maintain value






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






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






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






50. Pursues payments on debts owed by individuals or businesses