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






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






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






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






5. Risky






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






7. A fixed charge for borrowing money






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






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






10. 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.






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






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






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






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






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






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






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






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






19. Spreading out investments to reduce risk






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






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






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






23. Time - amount of money - rate of interest






24. 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.






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






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






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






28. Expenses that change from month to month






29. Interest rates - length of time to borrow money






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






31. 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.

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32. 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






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






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






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






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






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






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






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






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






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






42. Using computers to carry out transfers of money






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






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






45. The value of buying one item over another






46. Ability to convert to cash and maintain value






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






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






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






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