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 desire of a good or service






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






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






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






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






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






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






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






9. Equifax - Experian - TransUnion






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






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






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






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






14. Spreading out investments to reduce risk






15. The increase in price of goods and services






16. 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.






17. 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.






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






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






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






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






22. Lenders must disclose all costs of credit






23. Interest rates - length of time to borrow money






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






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






26. Time - amount of money - rate of interest






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






28. Pursues payments on debts owed by individuals or businesses






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






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






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






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






33. Enforces securities laws and regulates the securities industry






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






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






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






37. The value of buying one item over another






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






39. A fixed charge for borrowing money






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






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






42. Using computers to carry out transfers of money






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






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






45. 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






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






47. Can be profitable - liquid






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






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






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