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Test your basic knowledge |
DSST Personal Finance 2
Start Test
Study First
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 major stock exchange that handles trades through a computerized network - 2nd largest stock exchange
National Association of Securities Dealers Automated Quotations (NASDAQ)
blue chip stocks
credit record
fixed expenses
2. Items for enjoyment ex: eating out - entertainment - luxury items
debit card
wants
Dow Jones
chapter 13
3. The money an investor receives above and beyond the sum of money initially invested
budget
chapter 13
return
tips for a successful budget
4. A term that describes investments on which earnings are not taxed until retirement (ex: 401k - IRA)
Federal Open Market Committee (FOMC)
tax deferred
opportunity cost
disposable income
5. Insured interest earning savings account with restricted access to the fund; not as easy to get liquid as a savings account
interest
co-signing a loan
insurance
certificate of deposit or CD
6. Lenders must disclose all costs of credit
Truth in Lending Act
Dow Jones
inflation
things that affect loans
7. 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.
risk
Landlord
tips for a successful budget
credit report
8. 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
opportunity cost
liquidity
tips for using credit wisely
Tenant
9. Carefully planned - practical - flexible - written and accessible
types of risk
discretionary income
tips for a successful budget
wants
10. Enforces securities laws and regulates the securities industry
National Association of Securities Dealers Automated Quotations (NASDAQ)
short term goals
certificate of deposit or CD
Securities and Exchange Commission (SEC)
11. The money left to spend or save after taxes have been paid
disposable income
interest can benefit you when...
factors that affect a mortgage
interest
12. Income risk - personal risk - liquidity risk - interest rate risk
short term debt
electronic banking
certificate of deposit or CD
types of risk
13. A way to guarantee your financial protection against various risks
blue chip stocks
insurance
disposable income
debit card
14. Account to help you save money and earn a small amount of interest at the same time
savings account
tips for a successful budget
interest
return
15. Goal in which you plan to prepare for and reach in the distant future - over 5 years
tips for using credit wisely
long term goals
debit card
National Association of Securities Dealers Automated Quotations (NASDAQ)
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
Annual percentage rate (APR)
collateral
New York Stock Exchange (NYSE)
simple interest
17. Allows pay back of debt with more time - court oversees repayment of plan
interest can be bad for you when....
debit card
electronic banking
chapter 13
18. Formula used to calculate how many years it would take to double an investment
Rule of 72
Tenant
inflation
dividend
19. Regulates banks - makes short term loans to banks - conducts monetary policy
Pay Yourself First (PYF)
Federal Reserve System (FED)
time value of money
dividend
20. Stocks that pay low dividends - but are expected to grow
growth stocks
certificate of deposit or CD
tips for using credit wisely
variable expenses
21. Taking a certain amount of all money you receive and saving it to be used for spending on longer-term goals.
time value of money
Tenant
Pay Yourself First (PYF)
collection agency or debt collector
22. High-priced common stocks that have been strong - profitable stocks for a long period of time.
demand
blue chip stocks
disposable income
things that affect loans
23. A fixed charge for borrowing money
short term debt
emergency fund
interest
Law of Supply and Demand
24. The desire of a good or service
co-signing a loan
chapter 7
Tenant
demand
25. Can be profitable - liquid
3 major credit bureaus
tax deferred
things that affect loans
reasons to invest in stocks
26. Interest paid on the principal alone (I=p x r x t)
supply
diversification
simple interest
electronic banking
27. 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
disposable income
New York Stock Exchange (NYSE)
reasons not to invest in stocks
debit card
28. Expenses that change from month to month
things that affect loans
interest can benefit you when...
variable expenses
types of risk
29. Interest calculated on both the principal and the accrued interest (daily - monthly - quarterly - semi-annually - annually)
New York Stock Exchange (NYSE)
compound interest
Landlord
factors that affect a mortgage
30. Econoomy - interest rates - supply and demand of housing market - treasury bond rates
types of risk
factors that affect a mortgage
electronic banking
budget
31. Only responsible for the building and the property in the case of an event like fire - water damage
diversification
savings account
Landlord
financing an item
32. An indicator of stock market prices; based on the share values of 30 blue-chip stocks listed on the New York Stock Exchange
chapter 13
tips for a successful budget
savings account
Dow Jones
33. Protects you from the probability that injury - damage or loss will occur
short term debt
Rule of 72
how insurance is related to risk management
interest
34. The total amount of an employee's earnings before deductions are taken out
New York Stock Exchange (NYSE)
blue chip stocks
gross pay
tips for a successful budget
35. Time - amount of money - rate of interest
reasons not to invest in stocks
time value of money
New York Stock Exchange (NYSE)
dividend
36. The portion of corporate profits paid out to stockholders
tips for using credit wisely
collateral
debit card
dividend
37. Debts due within the next year (ex: loans - credit cards)
reasons to invest in stocks
short term debt
Tenant
Truth in Lending Act
38. Protects depository institution accounts - incures commercial banks and savings and loan
tips for a successful budget
insurance
Federal Deposit Insurance Corporation (FDIC)
Annual percentage rate (APR)
39. 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
bankruptcy
chapter 13
compound interest
CPI's relation to inflation
40. Money set aside for unforseen expenses in case of injury - loss of job or extra expenses
Dow Jones
factors that affect a mortgage
Landlord
emergency fund
41. You are being paid for it (ex: investment)
Annual percentage rate (APR)
New York Stock Exchange (NYSE)
interest can benefit you when...
liquidity
42. A plan for managing your money for a given period of time
demand
financing an item
emergency fund
budget
43. Allows to erase debt - must be unemployed of low income - must seek counseling - keeps only exempt property
electronic banking
chapter 7
net pay
compound interest
44. Investment that pools money from many investors to invest in stocks - bonds and other securities
mutual funds (MF)
gross pay
Law of Supply and Demand
interest
45. The possibility for loss on an investment
risk
budget
variable expenses
return
46. Using computers to carry out transfers of money
compound interest
growth stocks
electronic banking
supply
47. 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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48. To borrow money from a bank to purchase an item and pay for it over time
bankruptcy
CPI's relation to inflation
financing an item
budget
49. Agree to be responsible for loan payments if the other person can't make them
interest can benefit you when...
certificate of deposit or CD
inflation
co-signing a loan
50. The increase in price of goods and services
CPI's relation to inflation
collection agency or debt collector
inflation
electronic banking
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