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. Can be profitable - liquid






2. 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






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






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






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






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






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






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






9. The portion of corporate profits paid out to stockholders






10. The increase in price of goods and services






11. 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.


12. Expenses that change from month to month






13. The value of buying one item over another






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






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






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






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






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






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






20. 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






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






22. The total amount of an employee's earnings before deductions are taken out






23. Lenders must disclose all costs of credit






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






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






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






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






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






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






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






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






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






34. 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.






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






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






37. The availability of a good or service






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






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






40. Equifax - Experian - TransUnion






41. Risky






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






43. Pursues payments on debts owed by individuals or businesses






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






45. The desire of a good or service






46. Spreading out investments to reduce risk






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






48. Using computers to carry out transfers of money






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






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