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






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






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






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






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






6. Spreading out investments to reduce risk






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






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






9. Enforces securities laws and regulates the securities industry






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






11. Time - amount of money - rate of interest






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






13. Lenders must disclose all costs of credit






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






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






16. 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






17. 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






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






19. The increase in price of goods and services






20. The desire of a good or service






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






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






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






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






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






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






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






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






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






30. Risky






31. Pursues payments on debts owed by individuals or businesses






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






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






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






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






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






37. Equifax - Experian - TransUnion






38. Ability to convert to cash and maintain value






39. The value of buying one item over another






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






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






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






43. A fixed charge for borrowing money






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






45. 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






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






47. Expenses that change from month to month






48. The possibility for loss on an investment






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






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