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






2. Interest rates - length of time to borrow money






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






4. The portion of corporate profits paid out to stockholders






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






6. 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






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






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






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






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






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






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






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






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






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






16. Spreading out investments to reduce risk






17. The desire of a good or service






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






19. Expenses that change from month to month






20. The availability of a good or service






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






22. Lenders must disclose all costs of credit






23. The value of buying one item over another






24. Pursues payments on debts owed by individuals or businesses






25. 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






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






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






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






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






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






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






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






33. 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.






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






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






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






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






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






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






40. Enforces securities laws and regulates the securities industry






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






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






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






44. Ability to convert to cash and maintain value






45. Using computers to carry out transfers of money






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






47. 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






48. The possibility for loss on an investment






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






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