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. Salary - wages - interest - campital gains - commission






2. The availability of a good or service






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






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






5. Lenders must disclose all costs of credit






6. Time - amount of money - rate of interest






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






8. Can be profitable - liquid






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






10. The possibility for loss on an investment






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






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






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






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






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






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






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






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






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






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






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






22. Pursues payments on debts owed by individuals or businesses






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






24. The desire of a good or service






25. A fixed charge for borrowing money






26. 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.


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






28. The portion of corporate profits paid out to stockholders






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






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






31. 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






32. Equifax - Experian - TransUnion






33. Ability to convert to cash and maintain value






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






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






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






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






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






39. 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






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






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






42. Spreading out investments to reduce risk






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






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






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






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






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






48. Expenses that change from month to month






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






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