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






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






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






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






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






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






7. Enforces securities laws and regulates the securities industry






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






9. The availability of a good or service






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






11. Can be profitable - liquid






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






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






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






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






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






17. Time - amount of money - rate of interest






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






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






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






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






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






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






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






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






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






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






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






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






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






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






33. 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.


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






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






36. Equifax - Experian - TransUnion






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






38. Risky






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






40. The increase in price of goods and services






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






42. Expenses that change from month to month






43. Spreading out investments to reduce risk






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






45. Using computers to carry out transfers of money






46. 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.






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






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






49. 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.






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