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






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






3. 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






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






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






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






7. Risky






8. 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.






9. 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






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






11. The desire of a good or service






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






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






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






15. The availability of a good or service






16. Lenders must disclose all costs of credit






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






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






19. 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.






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






21. Pursues payments on debts owed by individuals or businesses






22. Spreading out investments to reduce risk






23. Using computers to carry out transfers of money






24. Can be profitable - liquid






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.

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






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






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






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






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






31. The portion of corporate profits paid out to stockholders






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






33. Interest rates - length of time to borrow money






34. The possibility for loss on an investment






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






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






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






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






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






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






41. The value of buying one item over another






42. Enforces securities laws and regulates the securities industry






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






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






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






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






47. 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






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






49. A fixed charge for borrowing money






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