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






2. 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






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






4. The possibility for loss on an investment






5. The availability of a good or service






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






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






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






9. Time - amount of money - rate of interest






10. 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.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






12. Expenses that change from month to month






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






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






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






16. Using computers to carry out transfers of money






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






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






19. Equifax - Experian - TransUnion






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






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






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






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






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






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






26. Ability to convert to cash and maintain value






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






28. 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






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






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






31. The increase in price of goods and services






32. Lenders must disclose all costs of credit






33. Risky






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






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






36. Spreading out investments to reduce risk






37. 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.






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






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






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






41. 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






42. Can be profitable - liquid






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






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






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






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






47. A fixed charge for borrowing money






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






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






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