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






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






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






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






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






6. Time - amount of money - rate of interest






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






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






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






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






11. The availability of a good or service






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






13. The portion of corporate profits paid out to stockholders






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






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






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






17. 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






18. The desire of a good or service






19. Expenses that change from month to month






20. A fixed charge for borrowing money






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






22. Interest rates - length of time to borrow money






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






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






25. 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.


26. 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.






27. 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






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






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






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






31. Enforces securities laws and regulates the securities industry






32. Ability to convert to cash and maintain value






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






34. 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






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






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






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






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






39. The value of buying one item over another






40. Pursues payments on debts owed by individuals or businesses






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






42. Can be profitable - liquid






43. Using computers to carry out transfers of money






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






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






46. Lenders must disclose all costs of credit






47. 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.






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






49. 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






50. Equifax - Experian - TransUnion