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. Expenses that change from month to month






2. 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






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






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






5. Interest rates - length of time to borrow money






6. The increase in price of goods and services






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






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






10. Enforces securities laws and regulates the securities industry






11. The possibility for loss on an investment






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






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






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






16. The availability of a good or service






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






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






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






20. The value of buying one item over another






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






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






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






24. Ability to convert to cash and maintain value






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






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. 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






28. 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






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






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






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






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






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






34. Using computers to carry out transfers of money






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






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






37. 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






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






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






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






41. Lenders must disclose all costs of credit






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






43. The portion of corporate profits paid out to stockholders






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






45. A fixed charge for borrowing money






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






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






48. Risky






49. Spreading out investments to reduce risk






50. 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.