- The test consists of the following subject and the proportion the subjects will appear on the test. You will find 20 percent financial statements and planning including balance sheets, taxes, and ration analysis. The test will be 20 percent time value of money such as present value, future value, annuity due, ordinary annuity and interest rate calculations. Ten percent of the test will be working capital management, such as short-term fund sources, management of short term funds and cash budgets. There is also 9 percent valuation and characteristics of stocks and bonds.
- Uopeople.org, a free online course, compliments of Yale Law Schools information society project has a free online Principles of Finance 1 course, as do several other open college systems. This online course recommends that you first understand Principles of Business Management and Basic Accounting before attempting it. Alternately, you can purchase Schaum's Outline of Principles of Accounting 1, a book that promises to teach the information you need for the DSST test as well as give you a good understanding of basic accounting.
- Use "DSST Principles of Finance" (Dantes Series : No. 46), purchased online to review the information you have studied and to take practice exams. You can also access DSST practice tests online. Take one practice test to determine how much material you have learned.
- Review all of your wrong questions, and go back and study areas of the books or online course where your knowledge is weak.
- Take another practice test and review. Repeat last two steps until you are secure that you have a passing grade. With test scores ranging from 200 to 500, a passing grade is 400, but some college request higher grade to count it as a college credit.
