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. Pursues payments on debts owed by individuals or businesses






2. The value of buying one item over another






3. 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.






4. A fixed charge for borrowing money






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






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






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






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






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






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






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






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






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






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






15. Time - amount of money - rate of interest






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






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






18. 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.






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






20. The possibility for loss on an investment






21. Enforces securities laws and regulates the securities industry






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






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






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






25. Can be profitable - liquid






26. The availability of a good or service






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






28. Spreading out investments to reduce risk






29. Lenders must disclose all costs of credit






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






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






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






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






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






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






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






37. The desire of a good or service






38. Using computers to carry out transfers of money






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






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






41. 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.


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






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






44. Expenses that change from month to month






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






46. 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






47. The portion of corporate profits paid out to stockholders






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






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






50. Interest rates - length of time to borrow money