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






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.


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






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






5. Cost of credit in the form of the interest rate charged for a full year - cost of credit expressed as a yearly percentage






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






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






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






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






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






11. Equifax - Experian - TransUnion






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






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






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






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






16. 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






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






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






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






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






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






22. A fixed charge for borrowing money






23. Using computers to carry out transfers of money






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






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






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






27. 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






28. Ability to convert to cash and maintain value






29. The possibility for loss on an investment






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






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






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






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






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






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






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






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






38. The availability of a good or service






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






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






41. The increase in price of goods and services






42. Can be profitable - liquid






43. Time - amount of money - rate of interest






44. Interest rates - length of time to borrow money






45. Enforces securities laws and regulates the securities industry






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






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






48. The portion of corporate profits paid out to stockholders






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






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