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 money left to spend or save after taxes have been paid






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






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






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






6. 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






7. 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






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






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






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






11. Risky






12. Interest rates - length of time to borrow money






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






14. Can be profitable - liquid






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






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






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






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






19. Equifax - Experian - TransUnion






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






21. The availability of a good or service






22. The portion of corporate profits paid out to stockholders






23. 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






24. The increase in price of goods and services






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






26. The desire of a good or service






27. 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.






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






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






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






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






32. The value of buying one item over another






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






34. Lenders must disclose all costs of credit






35. The possibility for loss on an investment






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






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






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






39. Spreading out investments to reduce risk






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






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






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






43. A fixed charge for borrowing money






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






45. Enforces securities laws and regulates the securities industry






46. 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






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






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






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






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