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DSST Personal Finance Exam Practice Test 4
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DSST Personal Finance Exam Practice Test 4
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25 Questions

1. Alexis believes that buying used cars makes more financial sense than buying new cars. He bases his belief on the fact that
2. Which of the following is true about annuities?
3. A disadvantage of a regressive tax structure is that
4. Which of the following allows the fastest access to cash with no penalty for withdrawal?
5. Which of the following is both a health insurer and a health services provider?
6. Which of the following is NOT included when calculating debt-to-income ratio?
7. Paul buys the right to purchase from his broker 100 shares of a stock at $43 a share within thirty days. This is known as
8. Which of the following is not one of the “five Cs of credit worthiness” considered by creditors?
9. Nadja was comparing credit cards and decided not to take the card from Acme Bank. Which of the following features signaled to Nadja that Acme’s card was not a good choice?
10. Achieving financial goals depends on how
11. Reduction of the principal borrowed over the life of a mortgage is called
12. A liquid asset is one that
13. The future value of money is
14. The limit on the amount a monthly mortgage payment may be increased on an adjustable rate mortgage is the
15. In terms of benefits, a term life policy provides
16. Which of the following is an example of an open-end credit instrument?
17. Which of the following is a typical rider to a life insurance policy?
18. Which of the following is a difference between a credit card and a debit card?
19. Sal and Joanna decided against taking out an umbrella policy. This was an unwise decision because an umbrella policy
20. Which of the following is an accurate statement about payroll deductions?
21. When making a major purchase such as a computer or appliance, you can benefit financially by
22. In a no-fault auto insurance plan state, which of the following is typically required?
23. Stan bought a used car with no express warranties. He may still have certain protections under
24. Reverse mortgages are a good idea for people who
25. Jake wants to improve his credit score. Which of the following will help him to do this?

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