DSST Personal Finance study guide
DSST Personal Finance · Work through your exam, one topic at a time.
The DSST Personal Finance exam is a credit-by-examination option that lets students earn college credit for knowledge they already have, rather than sitting through a course. DSST describes it as a Business exam at the 3 Baccalaureate level, worth 3 semester hours, with a minimum passing score of 400. The DSST Personal Finance study guide has 6 sections and about 2,354 words.
01Credit and Debt
The Credit and Debt domain tests how credit reports and scores are built, how loans and revolving accounts differ, and how repayment choices affect total cost. Expect questions on APR, minimum payments, utilization, collections, and the basic bankruptcy chapters.
419 words, about 2 min02Major Purchases
The Major Purchases domain tests consumer decisions involving homes, vehicles, and large durable goods. Questions often compare loan and lease costs, identify closing costs, and test whether a buyer has budgeted for the full cost of ownership.
382 words, about 2 min03Taxes
The Taxes domain tests federal income tax mechanics: filing status, gross income, adjustments, deductions, credits, withholding, payroll taxes, and capital gains. Questions emphasize the difference between deductions and credits and between marginal and effective rates.
396 words, about 2 min04Insurance
The Insurance domain tests risk transfer: how premiums, deductibles, limits, and exclusions allocate loss. Expect comparisons among auto, homeowners, health, life, and disability coverage, plus calculations involving deductibles and coinsurance.
369 words, about 2 min05Investments
The Investments domain tests fundamental analysis of risk, return, diversification, fees, and common investment vehicles. Questions favor concepts over stock-picking: asset allocation, compounding, fund costs, and the relationship between risk and expected return.
374 words, about 2 min06Retirement and Estate Planning
The Retirement and Estate Planning domain tests how tax-advantaged accounts, Social Security, and estate documents fit together. Expect questions on traditional versus Roth treatment, employer matches, early withdrawals, required distributions, beneficiary designations, and basic estate tools.
414 words, about 2 min