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DSST Personal Finance Exam Practice Test 1
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Avg score: 61% • Most missed: “Which of the following is considered a high-risk investment?”
The DSST Personal Finance exam tests the ability to understand credit and debt; major purchases; taxes; insurance; investments; and retirement and estate planning. The DSST Personal Finance exam contains 100 questions to be answered in 2 hours.  Exam content:  Foundations of Personal Finance – 8% a. Financial planning process b. Budgeting c. Cash management e. Certification in financial planning Credit and Debt – 15% a. Credit and debit cards b. Installment loans c. Interest calculations d. Federal credit laws e. Creditworthiness, credit scoring and reporting f.... Show more
DSST Personal Finance Exam Practice Test 1
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20 Questions

1. A bond has a face value of $10,000 and a bond quote of 95 percent. What is the price of the bond?
2. Using the rule of 72, approximately how long will it take to double $4,000 invested at 3 percent?
3. When is it better to return a leased vehicle rather than buy it when the lease is up?
4. A broker lends securities to a client who wishes to sell them now and buy them back later. This is known as a
5. When is it better to return a leased vehicle rather than buy it when the lease is up?
6. Who is responsible for paying for debt counseling for debtors filing for bankruptcy?
7. Self-employed persons may lower their income tax by deducting which of the following expenses?
8. If a person was concerned about inflation during retirement, that person would be best investing in
9. Joint tenancy with right of survivorship is a way to
10. Which of the following is an example of closed-end credit?
11. An example of a current liability is a/an
12. A broker lends securities to a client who wishes to sell them now and buy them back later. This is known as a
13. Homeowner’s insurance typically does NOT cover
14. Which of the following is considered a high-risk investment?
15. Which of the following is an example of closed-end credit?
16. The cost of operation of a vehicle includes
17. Self-employed persons may lower their income tax by deducting which of the following expenses?
18. Mary retired after thirty years. She will receive $4,000 a month before taxes in pension benefits from her former employer for the rest of her life. What type of pension plan does her former employer have?
19. The asset that a borrower puts up as repayment for a loan should the borrower default is known as
20. Which of the following is subtracted from income to arrive at a person’s adjusted gross income?

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