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






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






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






4. Ability to convert to cash and maintain value






5. The value of buying one item over another






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






7. Interest rates - length of time to borrow money






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






9. 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.


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






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






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






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






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






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






16. 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.






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






18. Expenses that change from month to month






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






20. 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






21. 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






22. Spreading out investments to reduce risk






23. 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






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






25. The portion of corporate profits paid out to stockholders






26. The availability of a good or service






27. Can be profitable - liquid






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






29. Enforces securities laws and regulates the securities industry






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






31. The possibility for loss on an investment






32. 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.






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






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






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






36. Using computers to carry out transfers of money






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






38. 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






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






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






41. Risky






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






43. Equifax - Experian - TransUnion






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






45. Lenders must disclose all costs of credit






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






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






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






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






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