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






2. Risky






3. A fixed charge for borrowing money






4. 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






5. Equifax - Experian - TransUnion






6. 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.






7. Lenders must disclose all costs of credit






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






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






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






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






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






13. The possibility for loss on an investment






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. The increase in price of goods and services






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






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






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






20. The availability of a good or service






21. Enforces securities laws and regulates the securities industry






22. The portion of corporate profits paid out to stockholders






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






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






25. 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.


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






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






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






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






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






31. 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






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






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






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






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






36. Spreading out investments to reduce risk






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






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






39. Expenses that change from month to month






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






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






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






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






44. Interest rates - length of time to borrow money






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






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






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






48. 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






49. Can be profitable - liquid






50. Ability to convert to cash and maintain value