DSST Personal Finance: Study Guide & Test Prep Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Sue has a steady income which is more than the median income for her state, but she has quite a bit of debt that she cannot pay, so she decides to look at her options to file for bankruptcy. She has unsecured debt that is less than $383,175 and secured debt that is less than $1,149,525. She will supply a repayment plan that she will adhere to in order to pay most of her debts. For which of the following types of bankruptcy may Sue qualify?

Question 2 2. Which of the following is NOT part of a review for credit worthiness?

Question 3 3. Why would it benefit Ed to purchase a car instead of leasing it?

Question 4 4. Which of the following is a characteristic of a conventional loan?

Question 5 5. In order to decrease overspending and impulse buying of major purchases, what does the buyer need to identify before purchasing?

Question 6 6. When speaking of income tax, what is AGI?

Question 7 7. The tables in IRS publication 15 determine which of the following?

Question 8 8. What is the purpose of liability insurance?

Question 9 9. Which of the following is a type of life insurance?

Question 10 10. The lack of a deductible in-network is a feature of which kind of health insurance?

Question 11 11. John has five dollars in his pocket. He sees two candy bars that he would like to purchase, but unfortunately, buying both would cost more than what he has. John has to make a choice between the chocolate candy bar and the candy bar with nuts. He decides to choose the chocolate candy bar and not the candy bar with nuts. This is an example of which of the following?

Question 12 12. Why is it important to calculate the real interest rate on investments?

Question 13 13. What is the difference between money market funds and a money market deposit account?

Question 14 14. Steven was issued a $25 bond as a gift from his grandparents in 1992. Twenty-six years later Steven wants to cash in his bond. What can he expect to get for cashing in his bond?

Question 15 15. Social Security benefits are funded through which of the following?

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DSST Personal Finance: Study Guide & Test Prep Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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