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. Lenders must disclose all costs of credit






2. Econoomy - interest rates - supply and demand of housing market - treasury bond rates






3. Risky






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






5. 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.






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






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






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






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






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






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






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






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






14. Time - amount of money - rate of interest






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






16. The availability of a good or service






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






18. 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.


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






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






21. Enforces securities laws and regulates the securities industry






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






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






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






25. 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






26. Ability to convert to cash and maintain value






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






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






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






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






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






32. 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






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






34. Spreading out investments to reduce risk






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






36. A way to guarantee your financial protection against various risks






37. The increase in price of goods and services






38. 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






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






40. The desire of a good or service






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






42. A fixed charge for borrowing money






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






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






45. The portion of corporate profits paid out to stockholders






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






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






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






49. Can be profitable - liquid






50. Expenses that change from month to month