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. 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






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






3. Pursues payments on debts owed by individuals or businesses






4. Lenders must disclose all costs of credit






5. The increase in price of goods and services






6. Using computers to carry out transfers of money






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






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






9. Interest rates - length of time to borrow money






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






11. 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






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






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






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






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






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






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






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






19. The availability of a good or service






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






21. A fixed charge for borrowing money






22. 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.






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






24. The portion of corporate profits paid out to stockholders






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






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






27. Equifax - Experian - TransUnion






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






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






30. Risky






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






32. Spreading out investments to reduce risk






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






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






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






36. Time - amount of money - rate of interest






37. Ability to convert to cash and maintain value






38. The desire of a good or service






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






40. The possibility for loss on an investment






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






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






43. 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






44. 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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45. The value of buying one item over another






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






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






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






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






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