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. Salary - wages - interest - campital gains - commission






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






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






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






5. The portion of corporate profits paid out to stockholders






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






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






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






9. Using computers to carry out transfers of money






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






11. Enforces securities laws and regulates the securities industry






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






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






14. 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






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






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






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






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






19. Interest rates - length of time to borrow money






20. Equifax - Experian - TransUnion






21. 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






22. The desire of a good or service






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






24. The increase in price of goods and services






25. Can be profitable - liquid






26. Lenders must disclose all costs of credit






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






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






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






30. The possibility for loss on an investment






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






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






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






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






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






36. Expenses that change from month to month






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






38. 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.

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






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






41. Spreading out investments to reduce risk






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






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






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






45. Pursues payments on debts owed by individuals or businesses






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






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






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






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






50. 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.