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. Items you need to survive ex: food - water






2. 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






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






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






5. Spreading out investments to reduce risk






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






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






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






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






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






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






12. 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






13. Pursues payments on debts owed by individuals or businesses






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






15. Equifax - Experian - TransUnion






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






17. 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.


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






19. Lenders must disclose all costs of credit






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






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






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






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






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






25. Using computers to carry out transfers of money






26. The increase in price of goods and services






27. 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.






28. 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.






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






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






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






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






33. Interest rates - length of time to borrow money






34. Time - amount of money - rate of interest






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






36. A fixed charge for borrowing money






37. Can be profitable - liquid






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






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






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






41. Risky






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






43. Ability to convert to cash and maintain value






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






45. The possibility for loss on an investment






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






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






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






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






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