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 possibility for loss on an investment






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






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






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






5. Interest rates - length of time to borrow money






6. 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.






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






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






9. The availability of a good or service






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






11. Pursues payments on debts owed by individuals or businesses






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






13. The increase in price of goods and services






14. 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






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






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






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






18. 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






19. Spreading out investments to reduce risk






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






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






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






23. Expenses that change from month to month






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






26. Risky






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






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






29. Lenders must disclose all costs of credit






30. Equifax - Experian - TransUnion






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






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






33. 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.






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






35. Time - amount of money - rate of interest






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






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






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






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






40. 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






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






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






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






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






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






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






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






48. Using computers to carry out transfers of money






49. Can be profitable - liquid






50. Enforces securities laws and regulates the securities industry