Questions regarding DSST Money and Banking

[chibbi30j1]

Have to take the DSST Money and Banking (which is reinstated) asap! Has anyone taken the new one and gotten any feedback about it? Thanks and some help would be great!

[BealeAFB23]

Have to take the DSST Money and Banking (which is reinstated) asap! Has anyone taken the new one and gotten any feedback about it? Thanks and some help would be great!

I'd like to know as well.

[pandas4eva]

I haven't taken the new one yet, but I'm planning on taking it after the 1st of the year. I've seen feedback on IC that there are questions regarding the recession of 2008 which are missing from the current IC flashcards.

[chibbi30j1]

I do not have access to IC. Could you kindly share some resources helpful for preparing for this exam, if you are aware of any? It would be extremely helpful. Thanks!

[pandas4eva]

Unfortunately the only "resource" I've seen is just the fact that the exam now covers the 2008 recession. What I am doing personally to study for this exam is studying an old edition of the recommended textbook ("Financial Institutions, Markets and Money" by Kidwell; got it for $4 on Amazon) and then looking up articles regarding the 2008 recession. On the DSST Fact Sheet it lists the recession under the "Monetary Policy in the United States" heading, so I am particularly looking for information regarding how the recession was caused by/effected monetary policy. Hopefully this is enough for me to pass(as I have no idea what else to do)! I know this isn't much, but I hope it helps somewhat!

[chibbi30j1]

Hey, did you take this exam? Please let me know how it went, if you did. Thanks!

[pandas4eva]

I am tentatively scheduled to take it the first week of February. I'll post my feedback here when I have!

[pandas4eva]

I took and passed this exam with a 451 yesterday! I read through an older edition of one of the recommended textbooks and used the IC flashcards, so I had to supplement for the 2008 financial crisis. The specific exam thread was really helpful for that. A few things I either hadn't studied or wish I had studied more were:

FDIC Act
McFadden Act
National Banking Act of 18-something
Quantity demand of money/inflation (I had probably 3-5 questions about this, particularly the equations themselves)
Liquidity/income/price effects (KNOW THESE WELL-I had 10+ questions on these: how they relate; if one does this, what do the others do, etc)

I know this is known as one of the hardest DSSTs and for good reason, however it isn't by any means impossible. I feel like I spent too much time stressing over the fact that it was spoken about so poorly that I wasted time with extra studying when I could have just gone ahead and passed it. No, this isn't an exam that is passable with common sense. It is an exam that requires some directed study, but a completely passable exam nonetheless! Hopefully this encourages anyone thinking about taking this one - you can do it!