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. The increase in price of goods and services






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






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






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






5. The desire of a good or service






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






7. Time - amount of money - rate of interest






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






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






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






11. 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.






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






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






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






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






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






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






18. Equifax - Experian - TransUnion






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






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






21. 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






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






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






24. Pursues payments on debts owed by individuals or businesses






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






26. The portion of corporate profits paid out to stockholders






27. Can be profitable - liquid






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






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






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






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






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






34. The possibility for loss on an investment






35. 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.






36. Risky






37. The value of buying one item over another






38. Interest rates - length of time to borrow money






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






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






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






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






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






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






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






47. A fixed charge for borrowing money






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






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






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