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Test your basic knowledge |
DSST Personal Finance 2
Start Test
Study First
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 money left to spend or save after taxes have been paid
supply
disposable income
Dow Jones
electronic banking
2. The portion of corporate profits paid out to stockholders
demand
dividend
compound interest
New York Stock Exchange (NYSE)
3. Items for enjoyment ex: eating out - entertainment - luxury items
Tenant
wants
things that affect loans
compound interest
4. A log of the financial habits of a person who buys on credit.
3 major credit bureaus
types of risk
Pay Yourself First (PYF)
credit record
5. Interest calculated on both the principal and the accrued interest (daily - monthly - quarterly - semi-annually - annually)
compound interest
blue chip stocks
demand
New York Stock Exchange (NYSE)
6. A fixed charge for borrowing money
interest
compound interest
risk
opportunity cost
7. Account to help you save money and earn a small amount of interest at the same time
budget
diversification
savings account
opportunity cost
8. Can be profitable - liquid
reasons to invest in stocks
bankruptcy
compound interest
fixed expenses
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
debit card
Kelley Blue Book
variable expenses
dividend
10. Protects you from the probability that injury - damage or loss will occur
variable expenses
simple interest
collateral
how insurance is related to risk management
11. The total earnings paid to an employee after payroll taxes and other deductions
financing an item
factors that affect your income
net pay
needs
12. Debts due within the next year (ex: loans - credit cards)
Law of Supply and Demand
interest can be bad for you when....
collection agency or debt collector
short term debt
13. Insured interest earning savings account with restricted access to the fund; not as easy to get liquid as a savings account
insurance
risk
growth stocks
certificate of deposit or CD
14. Items you need to survive ex: food - water
needs
Federal Deposit Insurance Corporation (FDIC)
credit report
tax deferred
15. You owe money (ex: credit card - loan)
CPI's relation to inflation
certificate of deposit or CD
interest can be bad for you when....
supply
16. Disposable income available for spending and saving after an individual has purchased the basic necessities of food - clothing - and shelter
insurance
credit record
National Association of Securities Dealers Automated Quotations (NASDAQ)
discretionary income
17. A term that describes investments on which earnings are not taxed until retirement (ex: 401k - IRA)
tips for a successful budget
electronic banking
tax deferred
wants
18. Salary - wages - interest - campital gains - commission
3 major credit bureaus
things that affect loans
factors that affect your income
interest can be bad for you when....
19. Time - amount of money - rate of interest
disposable income
fixed expenses
return
time value of money
20. Pursues payments on debts owed by individuals or businesses
mutual funds (MF)
long term goals
reasons not to invest in stocks
collection agency or debt collector
21. To borrow money from a bank to purchase an item and pay for it over time
diversification
Truth in Lending Act
financing an item
co-signing a loan
22. Using computers to carry out transfers of money
electronic banking
interest can benefit you when...
bankruptcy
Kelley Blue Book
23. A major stock exchange that handles trades through a computerized network - 2nd largest stock exchange
Pay Yourself First (PYF)
National Association of Securities Dealers Automated Quotations (NASDAQ)
financing an item
collection agency or debt collector
24. Only responsible for the building and the property in the case of an event like fire - water damage
demand
Rule of 72
Landlord
reasons to invest in stocks
25. Equifax - Experian - TransUnion
growth stocks
mutual funds (MF)
supply
3 major credit bureaus
26. A way to guarantee your financial protection against various risks
dividend
insurance
long term goals
Federal Reserve System (FED)
27. Allows to erase debt - must be unemployed of low income - must seek counseling - keeps only exempt property
demand
needs
things that affect loans
chapter 7
28. Properties or assets that are offered to secure a loan or other credit; subject to seizure upon default
discretionary income
Federal Deposit Insurance Corporation (FDIC)
collateral
interest
29. Money set aside for unforseen expenses in case of injury - loss of job or extra expenses
liquidity
emergency fund
New York Stock Exchange (NYSE)
fixed expenses
30. Carefully planned - practical - flexible - written and accessible
tips for a successful budget
credit report
fixed expenses
Rule of 72
31. The availability of a good or service
short term goals
Landlord
supply
growth stocks
32. 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
reasons to invest in stocks
gross pay
New York Stock Exchange (NYSE)
things that affect loans
33. The increase in price of goods and services
electronic banking
financing an item
inflation
wants
34. Econoomy - interest rates - supply and demand of housing market - treasury bond rates
Federal Reserve System (FED)
factors that affect a mortgage
Law of Supply and Demand
Tenant
35. Investment that pools money from many investors to invest in stocks - bonds and other securities
mutual funds (MF)
demand
Pay Yourself First (PYF)
co-signing a loan
36. 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.
37. You are being paid for it (ex: investment)
Law of Supply and Demand
interest
interest can benefit you when...
blue chip stocks
38. 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.
inflation
credit report
variable expenses
collection agency or debt collector
39. Agree to be responsible for loan payments if the other person can't make them
interest can be bad for you when....
wants
mutual funds (MF)
co-signing a loan
40. Interest rates - length of time to borrow money
reasons not to invest in stocks
things that affect loans
chapter 7
reasons to invest in stocks
41. Interest paid on the principal alone (I=p x r x t)
Law of Supply and Demand
Rule of 72
simple interest
opportunity cost
42. The possibility for loss on an investment
emergency fund
risk
interest
credit record
43. An indicator of stock market prices; based on the share values of 30 blue-chip stocks listed on the New York Stock Exchange
variable expenses
savings account
Dow Jones
3 major credit bureaus
44. The money an investor receives above and beyond the sum of money initially invested
risk
short term goals
needs
return
45. A plan for managing your money for a given period of time
wants
National Association of Securities Dealers Automated Quotations (NASDAQ)
short term debt
budget
46. 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
tips for using credit wisely
Law of Supply and Demand
needs
Federal Open Market Committee (FOMC)
47. Source of information in determining a fair price for a vehicle - new or used
Kelley Blue Book
certificate of deposit or CD
demand
collateral
48. Taking a certain amount of all money you receive and saving it to be used for spending on longer-term goals.
discretionary income
savings account
Pay Yourself First (PYF)
short term goals
49. Allows pay back of debt with more time - court oversees repayment of plan
risk
gross pay
opportunity cost
chapter 13
50. High-priced common stocks that have been strong - profitable stocks for a long period of time.
needs
supply
blue chip stocks
financing an item