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. Carefully planned - practical - flexible - written and accessible






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






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






4. The possibility for loss on an investment






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






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






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






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






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






10. 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.






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






12. Expenses that change from month to month






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






14. Using computers to carry out transfers of money






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






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






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






18. 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.






19. 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.


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






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






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






23. Interest rates - length of time to borrow money






24. The portion of corporate profits paid out to stockholders






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






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






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






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






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






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






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






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






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






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






35. Enforces securities laws and regulates the securities industry






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






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






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






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






40. Ability to convert to cash and maintain value






41. Equifax - Experian - TransUnion






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






43. 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






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






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






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






47. 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






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






49. The desire of a good or service






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