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. 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.






2. 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






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






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






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






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






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






8. A fixed charge for borrowing money






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






10. Lenders must disclose all costs of credit






11. Spreading out investments to reduce risk






12. 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.


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






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






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






16. Time - amount of money - rate of interest






17. Pursues payments on debts owed by individuals or businesses






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






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






20. 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






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






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






23. Interest rates - length of time to borrow money






24. Enforces securities laws and regulates the securities industry






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






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






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






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






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






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






31. The availability of a good or service






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






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






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






35. The portion of corporate profits paid out to stockholders






36. Risky






37. Can be profitable - liquid






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






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






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






41. The increase in price of goods and services






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






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






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






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






46. Using computers to carry out transfers of money






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






48. The possibility for loss on an investment






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






50. 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