Dana can spend a $2,000 bonus on a trip or put it toward her car loan. In economics, what is the opportunity cost of choosing the trip?Wikipedia, "Opportunity cost". DSST outline area I (6%), a. Financial planning process
How is a household's net worth calculated?Wikipedia, "Net worth". DSST outline area I (6%), a. Financial planning process
Up to what amount does FDIC insurance cover the deposits of one owner at one insured bank?Consumer Financial Protection Bureau, Ask CFPB, "How can I be sure my money is safe in my bank account?". DSST outline area I (6%), c. Cash management
What do you agree to when you open a certificate of deposit (CD)?Consumer Financial Protection Bureau, Ask CFPB, "What is a certificate of deposit (CD)?". DSST outline area I (6%), c. Cash management
Show all 60 questions (56 more)
Credit and debt 9
A lender turns down your loan application. What do the Equal Credit Opportunity Act and the Fair Credit Reporting Act require it to send you?Consumer Financial Protection Bureau, Ask CFPB, "What can I do if my credit application was denied because of my credit report?". DSST outline area II (15%), d. Federal credit laws
How does a secured credit card work?Consumer Financial Protection Bureau, Ask CFPB, "What are some ways to start or rebuild a good credit history?". DSST outline area II (15%), a. Credit and debit cards
How long does most accurate negative information, such as a late payment, stay on a credit report?Consumer Financial Protection Bureau, Ask CFPB, "Is it possible to remove accurate but negative information from my credit report?". DSST outline area II (15%), e. Creditworthiness, credit scoring and reporting
Lenders, landlords and insurers all look at credit scores. What is a score meant to be?Consumer Financial Protection Bureau, Ask CFPB, "What is a credit score?". DSST outline area II (15%), e. Creditworthiness, credit scoring and reporting
Under the Fair Debt Collection Practices Act, what happens once you tell a debt collector in writing to stop contacting you?Consumer Financial Protection Bureau, Ask CFPB, "How do I get a debt collector to stop calling or contacting me?". DSST outline area II (15%), d. Federal credit laws
What happens to a debtor's property in a Chapter 7 bankruptcy?United States Courts, "Chapter 7 - Bankruptcy Basics". DSST outline area II (15%), f. Bankruptcy
Which description fits a typical payday loan?Consumer Financial Protection Bureau, Ask CFPB, "What is a payday loan?". DSST outline area II (15%), b. Installment loans
Why is a loan's annual percentage rate (APR) usually higher than its interest rate?Consumer Financial Protection Bureau, Ask CFPB, "What is the difference between a mortgage interest rate and an APR?". DSST outline area II (15%), c. Interest calculations
Your debit card is stolen and you tell your bank the next day. Under federal law, what is the most you can be held responsible for?Consumer Financial Protection Bureau, Ask CFPB, "How do I get my money back after I discover an unauthorized transaction or money missing from my bank account?". DSST outline area II (15%), a. Credit and debit cards
Major purchases 9
A borrower pays $1,500 a month on a mortgage and $300 on other debts and has a gross monthly income of $6,000. What is the debt-to-income ratio?Consumer Financial Protection Bureau, Ask CFPB, "What is a debt-to-income ratio?". DSST outline area III (15%), b. Housing
How soon after receiving a mortgage application must a lender provide a Loan Estimate?Consumer Financial Protection Bureau, Ask CFPB, "What is a Loan Estimate?". DSST outline area III (15%), b. Housing
What do discount points on a mortgage do?Consumer Financial Protection Bureau, Ask CFPB, "How should I use lender credits and points (also called discount points)?". DSST outline area III (15%), b. Housing
What do lemon laws do?Wikipedia, "Lemon law". DSST outline area III (15%), a. Auto, furniture, appliances
What does Guaranteed Asset Protection (GAP) coverage on a financed car pay for?Consumer Financial Protection Bureau, Ask CFPB, "What is Guaranteed Asset Protection (GAP) insurance?". DSST outline area III (15%), a. Auto, furniture, appliances
What is a mortgage escrow account used for?Consumer Financial Protection Bureau, Ask CFPB, "What is an escrow or impound account?". DSST outline area III (15%), b. Housing
What is the basic difference between a fixed-rate mortgage and an adjustable-rate mortgage (ARM)?Consumer Financial Protection Bureau, Ask CFPB, "What is the difference between a fixed-rate and adjustable-rate mortgage (ARM) loan?". DSST outline area III (15%), b. Housing
What is the Monroney sticker?Wikipedia, "Monroney sticker". DSST outline area III (15%), a. Auto, furniture, appliances
When is a home buyer with a conventional loan usually required to buy private mortgage insurance (PMI)?Consumer Financial Protection Bureau, Ask CFPB, "What is private mortgage insurance?". DSST outline area III (15%), b. Housing
Taxes 9
A tax whose rate falls as the amount being taxed rises is called what?Wikipedia, "Regressive tax". DSST outline area IV (15%), f. Progressive vs regressive
How does a tax credit differ from a tax deduction?Internal Revenue Service, "Credits and deductions for individuals". DSST outline area IV (15%), b. Income
How does the IRS first tell a taxpayer that a return has been selected for audit?Internal Revenue Service, "IRS audits". DSST outline area IV (15%), c. IRS and audits
How long must you generally hold an asset for a gain on its sale to count as long-term?Internal Revenue Service, "Topic no. 409, Capital gains and losses". DSST outline area IV (15%), b. Income
What are the Social Security and Medicare tax rates withheld from an employee's wages?Internal Revenue Service, "Topic no. 751, Social Security and Medicare withholding rates". DSST outline area IV (15%), a. Payroll
What does an automatic extension of time to file a federal income tax return not give you?Internal Revenue Service, "Topic no. 304, Extensions of time to file your tax return". DSST outline area IV (15%), e. Tax planning/estimating
What is Form W-4 used for?Internal Revenue Service, "Topic no. 753, Form W-4, Employees Withholding Certificate". DSST outline area IV (15%), a. Payroll
What sets an enrolled agent apart from an unenrolled tax return preparer?Internal Revenue Service, "Enrolled agent information". DSST outline area IV (15%), h. Tax professionals
Who is generally responsible for paying the federal gift tax?Internal Revenue Service, "Frequently asked questions on gift taxes". DSST outline area IV (15%), d. Estate and gift
Insurance 9
Buying an insurance policy is an example of which way of handling risk?Wikipedia, "Risk management". DSST outline area V (15%), a. Risk management
In a health plan, what is coinsurance?HealthCare.gov glossary, "Coinsurance". DSST outline area V (15%), d. Health, disability and long-term care policies
In a health plan, what is the deductible?HealthCare.gov glossary, "Deductible". DSST outline area V (15%), d. Health, disability and long-term care policies
What does a renters' insurance policy leave out that a homeowners' policy includes?Wikipedia, "Renters' insurance". DSST outline area V (15%), c. Property and liability policies
What does the liability coverage in an auto policy pay for?Wikipedia, "Vehicle insurance in the United States". DSST outline area V (15%), c. Property and liability policies
What is term life insurance?Wikipedia, "Term life insurance". DSST outline area V (15%), b. Life policies
What is the purpose of a personal umbrella policy?Wikipedia, "Umbrella insurance". DSST outline area V (15%), e. Specialty insurance
Which feature separates whole life insurance from term life insurance?Wikipedia, "Whole life insurance". DSST outline area V (15%), b. Life policies
Which statement about Medicare and long-term care is correct?Administration for Community Living, "Medicare". DSST outline area V (15%), d. Health, disability and long-term care policies
Investments 12
A company goes bankrupt and its assets are sold. Where do preferred stockholders stand in line for the proceeds?U.S. Securities and Exchange Commission, Investor.gov, "Stocks". DSST outline area VI (21%), c. Equities
A fund's expense ratio is 0.50 percent. What does that figure measure?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Expense Ratio". DSST outline area VI (21%), d. Mutual funds and exchange-traded funds (ETFs)
A saver leaves $2,000 for two years in an account that pays 4 percent, compounded annually. What is the balance at the end?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Compound Interest". DSST outline area VI (21%), g. Time value of money
An investor puts $200 into the same fund on the first of every month, whatever the price. What is this practice called?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Dollar Cost Averaging". DSST outline area VI (21%), h. Asset/portfolio allocation
How does a money market mutual fund differ from a money market account at a bank?Consumer Financial Protection Bureau, Ask CFPB, "What is a money market account?". DSST outline area VI (21%), a. Liquid assets
How does an investor earn a return on a Treasury bill?TreasuryDirect, "Treasury Bills". DSST outline area VI (21%), a. Liquid assets
Using the rule of 72, about how long does money take to double at an annual return of 6 percent?Wikipedia, "Rule of 72". DSST outline area VI (21%), g. Time value of money
What is a real estate investment trust (REIT)?U.S. Securities and Exchange Commission, Investor.gov, "Real Estate Investment Trusts (REITs)". DSST outline area VI (21%), e. Other types of investment
What is asset allocation?U.S. Securities and Exchange Commission, Investor.gov, "Asset Allocation". DSST outline area VI (21%), h. Asset/portfolio allocation
What strategy does an index fund follow?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Index Fund". DSST outline area VI (21%), d. Mutual funds and exchange-traded funds (ETFs)
Which document does every mutual fund and ETF provide, with its investment objectives, risks, past performance and expenses?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Prospectus". DSST outline area VI (21%), f. Sources of information
You own a bond and market interest rates rise. What usually happens to its market value?U.S. Securities and Exchange Commission, Investor.gov, "Bonds". DSST outline area VI (21%), b. Bonds
Retirement and estate planning 8
At what age must most owners of traditional IRAs begin taking required minimum distributions?Internal Revenue Service, "Retirement topics - Required minimum distributions (RMDs)". DSST outline area VII (13%), b. Qualified retirement accounts
How are a Roth IRA's contributions and qualified distributions treated for federal income tax?Internal Revenue Service, "Roth IRAs". DSST outline area VII (13%), b. Qualified retirement accounts
In a retirement plan, what does it mean to be vested?Internal Revenue Service, "Retirement topics - Vesting". DSST outline area VII (13%), a. Terminology
In which kind of plan does the employer promise a specified monthly benefit at retirement and bear the investment risk?U.S. Securities and Exchange Commission, Investor.gov, glossary, "Defined Benefit Plan". DSST outline area VII (13%), a. Terminology
What are the earliest and latest ages at which Social Security rules let a worker claim retirement benefits?Consumer Financial Protection Bureau, "Before you claim". DSST outline area VII (13%), c. Social security benefits
What generally applies to money taken out of a qualified retirement plan, such as a 401(k), before age 59 and a half?Internal Revenue Service, "Topic no. 558, Additional tax on early distributions from retirement plans other than IRAs". DSST outline area VII (13%), b. Qualified retirement accounts
What is an annuity?U.S. Securities and Exchange Commission, Investor.gov, "Annuities". DSST outline area VII (13%), e. Tax-deferred annuities
What is probate?Wikipedia, "Probate". DSST outline area VII (13%), d. Wills, trusts and estate planning
How this list was compiled: Our own questions, written to the exam content outline in the DSST fact sheet for Personal Finance (Prometric, Rev 1/2026, https://getcollegecredit.com/wp-content/uploads/2025/11/Personal-Finance-1.pdf, read 2026-10-13): Foundations of Personal Finance 6%, Credit and Debt 15%, Major Purchases 15%, Taxes 15%, Insurance 15%, Investments 21%, Retirement and Estate Planning 13%. This bank holds 60: 4, 9, 9, 9, 9, 12 and 8, the same shares to the nearest question. Every fact was read on 2026-10-13 on the public page named under its question: the Consumer Financial Protection Bureau, the Internal Revenue Service, the SEC's Investor.gov, HealthCare.gov, TreasuryDirect, the U.S. Courts, the Administration for Community Living and Wikipedia. Three answers are arithmetic from a rule the source states. Licence: Questions, choices and explanations are original work of this site.
How it works
These Personal Finance DSST practice tests draw on 60 questions of our own in the fact sheet's seven areas. The page is unofficial: it is not affiliated with, endorsed by or sponsored by Prometric, which owns the DSST exams.
Read the full guide
What the exam covers
The fact sheet (Rev 1/2026) lists seven areas: foundations of personal finance 6%, credit and debt 15%, major purchases 15%, taxes 15%, insurance 15%, investments 21%, and retirement and estate planning 13%. The bank holds 4, 9, 9, 9, 9, 12 and 8.
The arithmetic
Three questions need a sum: a debt-to-income ratio, the rule of 72 and two years of compound interest. Each is worked in its explanation.
Rules that change
Tax and retirement answers follow the IRS pages as they read on October 13, 2026, such as required withdrawals from age 73. No question asks for a yearly dollar limit.
Investments is the largest area at 21%: liquid assets, bonds, stocks, funds, the time value of money and asset allocation.
Four areas carry 15% each: credit and debt, major purchases, taxes and insurance.
Questions and answers
How many questions are on the DSST Personal Finance exam?
100, with a 2-hour limit, according to the fact sheet revised 1/2026. Exam mode on this page gives you 50 questions and 60 minutes, the same pace.
What score do you need to pass the DSST Personal Finance exam?
Not a percent: the American Council on Education recommends 3 semester hours of lower-level baccalaureate credit starting at a score of 400. Ask the school receiving your score what it accepts.
Is there a DSST Personal Finance study guide?
Prometric's free fact sheet has the outline, the weights and two textbooks: Kapoor and Dlabay's Personal Finance and Billingsley, Gitman and Joehnk's Personal Financial Planning. Each explanation here names the public page it was checked on, most of them CFPB, IRS or SEC pages.
Are these real DSST Personal Finance questions?
No. Each of the 60 is our own, built from an outline line and a public page. None comes from the exam or from the fact sheet's samples. They are practice for an exam, not financial or tax advice.