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






2. Pursues payments on debts owed by individuals or businesses






3. The desire of a good or service






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






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






6. Lenders must disclose all costs of credit






7. 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.






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






9. Interest rates - length of time to borrow money






10. Expenses that change from month to month






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






12. Ability to convert to cash and maintain value






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






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






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






16. The portion of corporate profits paid out to stockholders






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






18. Spreading out investments to reduce risk






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






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






21. 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.






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






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






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






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






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






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






28. The value of buying one item over another






29. The increase in price of goods and services






30. The availability of a good or service






31. Risky






32. 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






33. The possibility for loss on an investment






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






35. A fixed charge for borrowing money






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






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






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






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






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






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






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






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






44. Can be profitable - liquid






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






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






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






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






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






50. Time - amount of money - rate of interest