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. Equifax - Experian - TransUnion






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






3. The value of buying one item over another






4. 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






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






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. The availability of a good or service






8. 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






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






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






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






12. The increase in price of goods and services






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






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






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






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






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






18. Can be profitable - liquid






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






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






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






22. 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.






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






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






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






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






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






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






29. Using computers to carry out transfers of money






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






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






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






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






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






35. Expenses that change from month to month






36. The desire of a good or service






37. 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






38. 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






39. The possibility for loss on an investment






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






41. Risky






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






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






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






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






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






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






48. Lenders must disclose all costs of credit






49. Spreading out investments to reduce risk






50. Interest rates - length of time to borrow money