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






2. Risky






3. 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.






4. Spreading out investments to reduce risk






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






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






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






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. Carefully planned - practical - flexible - written and accessible






10. Pursues payments on debts owed by individuals or businesses






11. The portion of corporate profits paid out to stockholders






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






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






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






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






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






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






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






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






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






21. 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






22. Time - amount of money - rate of interest






23. A fixed charge for borrowing money






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






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






26. Enforces securities laws and regulates the securities industry






27. Using computers to carry out transfers of money






28. The desire of a good or service






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






30. Lenders must disclose all costs of credit






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






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






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






34. 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






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






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






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






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






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






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






42. The availability of a good or service






43. The value of buying one item over another






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






45. Interest rates - length of time to borrow money






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






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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