Money and Banking DSST helpful tips?

[starlinghunter]

If anyone knows of online practice tests for this one, and helpful websites, please let me know about them!

Tell me what worked best for you on this test, and how the actual test compared with the IC type questions.

Thanks!,

- SAM

[Ubuntu_user]

I just read the recommended textbook through once, and that was absolutely all I did. In fact, just buy a version or two back, that way the book is nice and cheap and works just fine.

[GamingTheSystem]

Which textbook?

[starlinghunter]

I'm using "Money, Banking & Financial Markets", 3rd edition, by Roger Miller/ David VanHoose. Which book did you (Ubuntu) use?
You didn't you even use IC?

[degree4hbia]

If anyone knows of online practice tests for this one, and helpful websites, please let me know about them!

Tell me what worked best for you on this test, and how the actual test compared with the IC type questions.

Thanks!,

- SAM

Hey there! I'm actually going to take Money and Banking on the 22nd. As for practice tests here are some ones that I'm using:

1. https://www.msu.edu/course/ec/330/201/pr...0exam3.pdf

2. Money and Banking Practice final exam MULTIPLE CHOICE Choose the

3. DANTES / DSST Exam Practice Tests - Free Sample Practice Test Humanities DANTES Questions

4. http://ibt.prometric.com/dsst

Now I don't know how accurate these are because I haven't taken the real test yet.

Also, you may find these resources helpful in studying:

1. Home Page

2. http://www.free-clep-prep.com/support-fi...-notes.pdf

3. The Economics of Money, Banking and Financial Markets 8th Edition by Frederic S. Mishkin

I am currently using these resources and they've been very helpful...especially the Mishkin book.

Wish you the best on your test!

-Ivan

[starlinghunter]

Thanks Ivan, that's all VERY helpful.
BTW, for your own knowledge, I contacted DSST, and the last time they refreshed their tests was in 2008, so any questions with the people in the FED etc. should be relatively up-to-date. An IC question I came across said the test would prob. still say Alan Greenspan was chairman of FED, but since he was in from 1987-2006, the test should have the current man, Ben Bernanke (chosen by George Bush for 14 yr. term).

I wasn't ready to take the test today, the last testing for my testing center until the 3rd, but that should give me enough time to study till then.

Thanks again,

-Sam

[Yanji]

I pretty much didn't study at all for this one. I just wanted to take it as an "insurance policy" against a TECEP which had yet to be scored so I bought a train ticket to NYC on a whim one day, walked into a 7-day testing centre in Manhattan (gotta love NY for that) and 40 minutes later I walked out with a 57, which is good enough for an "A" at EC. The extent of my study was flipping through a few of the IC cards while I was on the train from Philly to get a feel for the questions. The most important thing (by far) was knowing basic macroeconomic principles and the role/functions of the Fed. M&B really isn't the big bad super hard DSST some people make it out to be. If you can pass the Macro CLEP you can definitely pass M&B. Personally, I think IC and the related forum thread (paying extra attention to anything related to the Fed) should be enough.

[starlinghunter]

Yes, I've found that this test doesn't contain the huge monster of complex info. that everyone seemed to be saying was lurking in this test. I'm finding it much more enjoyable and interesting to study for this than for Principles of Finance! (I did poorly for time and/or scores on my accounting tests).

Although I won't walk into my testing center today, I think I'll be ready to tackle it as soon as it opens up after the holidays, on Jan. 3rd.

BTW, was there much of anything on the subject of e-money, smart cards, debit cards etc.?

[Yanji]

BTW, was there much of anything on the subject of e-money, smart cards, debit cards etc.?

I don't recall any such questions, but there were a couple of questions about personal bank accounts in general.

[starlinghunter]

I'm planning on taking this test tomorrow, and it'd be great if you all could remember to pray for me!
I'll update here on how it went (if my final practice scores are good) for Money and Banking!
- Sam