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






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






3. 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.






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






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






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






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






8. Ability to convert to cash and maintain value






9. Expenses that change from month to month






10. A fixed charge for borrowing money






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






12. Lenders must disclose all costs of credit






13. The possibility for loss on an investment






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






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






16. Risky






17. Using computers to carry out transfers of money






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






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






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






21. The availability of a good or service






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






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






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






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






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






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






29. Time - amount of money - rate of interest






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






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






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






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






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






35. Interest rates - length of time to borrow money






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






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






38. Equifax - Experian - TransUnion






39. 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






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






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






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






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






44. 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.






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






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






47. Pursues payments on debts owed by individuals or businesses






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






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






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







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Can you answer 50 questions in 15 minutes?


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