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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. Bankruptcy
Major Purchases – 15% a. Auto, furniture, appliances b. Housing
Taxes – 15% a. Payroll b. Income c. IRS and audits d. Estate and gift e. Tax planning/estimating f. Progressive vs regressive g. Other Taxes
Insurance – 15% a. Risk management b. Life policies c. Property and liability policies d. Health, disability and long-term care policies e. Specialty insurance f. Insurance analysis and sources of information
Investments – 16% a. Liquid Assets b. Bonds c. Equities d. Mutual funds and exchange traded funds e. Other types of Investment f. Sources of information g. Time value of money h. Asset/portfolio allocation
Retirement and Estate Planning – 16% a. Terminology b. Qualified retirement accounts c. Social security benefits d. Wills, trusts and estate planning e. Tax-deferred annuities
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