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






2. Ability to convert to cash and maintain value






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






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






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






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






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






8. Spreading out investments to reduce risk






9. 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.






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






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






12. A fixed charge for borrowing money






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






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






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






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






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






18. Source of information in determining a fair price for a vehicle - new or used






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






20. Can be profitable - liquid






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






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






23. Using computers to carry out transfers of money






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






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






26. The availability of a good or service






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






28. Enforces securities laws and regulates the securities industry






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






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






31. 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






32. Expenses that change from month to month






33. The possibility for loss on an investment






34. 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.






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






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






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






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






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






40. Lenders must disclose all costs of credit






41. 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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42. A way to guarantee your financial protection against various risks






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






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






45. The increase in price of goods and services






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






47. Time - amount of money - rate of interest






48. 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






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






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







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Can you answer 50 questions in 15 minutes?


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