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






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






3. Risky






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






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






6. 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






7. Can be profitable - liquid






8. Enforces securities laws and regulates the securities industry






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






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






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






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






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






14. A fixed charge for borrowing money






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






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






17. 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






18. Expenses that change from month to month






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






20. Using computers to carry out transfers of money






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






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






23. 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






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






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






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






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






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






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






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






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






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






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






34. The value of buying one item over another






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






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






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






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.


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






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






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






42. Pursues payments on debts owed by individuals or businesses






43. Spreading out investments to reduce risk






44. Time - amount of money - rate of interest






45. Equifax - Experian - TransUnion






46. Lenders must disclose all costs of credit






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






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






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






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