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Test your basic knowledge |
Wealth Management
Start Test
Study First
Subjects
:
personal-finance
,
business-skills
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A penalty for making a payment after the due date
Living Trust
Gross Income
Financial Goals
Late Fee
2. Income on which tax must be paid; total income minus exemptions and deductions
Premium
Return
Reconcile
Taxable Income
3. Someone who has insufficient assets to cover their debts
Decison-making
Common Stock
Insolvent
Income
4. Items of personal interest to collectors that can increase in value in the future
Premium
Collectibles
Bankruptcy
Stockholders' Equity
5. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Deductible
Mutual Funds
Good Faith
Expenses
6. Is your gross income after certain reductions have been made
Adjusted Gross Income
Collectibles
Savings Register
Salary
7. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers
Debit
Lien
APR
Inflation
8. The amount accruing to the corporations owners
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9. The amount accruing to the corporations owners
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10. The economical needs of an individual
Present Value
Interest-Only Loan
Financial Needs
Pay Period
11. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.
Secured Debt
Credit
Secured Loan
Securities
12. A loan backed by something valuable - such as property
Savings Register
Withdrawal
Maturity Date
Secured Loan
13. Something of value; a resource; an advantage
Maintain
Adjusted Gross Income
Asset
Taxable Income
14. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Exemption
Withdrawal
Lending Investments
Values
15. Limited quantities of resources to meet unlimited wants
Index Fund
Living Trust
Scarcity
Predatory Lending
16. An institution that issues something (securities or publications or currency etc.)
Taxable Income
Mutual Funds
Issuer
Credit
17. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.
Stock Exchanges
Predatory Lending
Exchange-Traded Funds
Par Value
18. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group
Gross Income
Stock Symbol
Lending Investments
EFT
19. The time interval between the deposit of a check in a bank and its payment
Liability
Net Income
Float
Annual Fee
20. All costs or bills related to the business
Vesting
Total Assets
Expenses
Decison-making
21. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts
Foreclosure
Exemptions
dividends
Personal Budget
22. The outcome of an event especially as relative to an individual
Asset Allocation
Risk
Usury
Consequence
23. A debt not backed by specific property to satisfy the indebtedness in case of default.
Phishing
Statement of Cash Flows
Unsecured Debt
Indirect Car Loan
24. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Investing
Transaction Fee
Collectibles
Estate Planning
25. A venture undertaken without regard to possible loss or injury
Risk
Expenses
Probate
Exchange-Traded Funds
26. The process of managing one's assets and wealth
Rent
Living Trust
Wealth Management
Incentives
27. Short-term and Long-term objectives that are driven by values.
Personal Budget
Certificates of Deposit
Financial Goals
Disclosure
28. Protection against future loss
Deductible
Predatory Lending
Asset Allocation
Insurance
29. The right to take another's property if an obligation is not discharged
Transaction
Payday Loan
Lien
Liability
30. Funds that pay part of their distributions out of principal cannibalize their assets. This depletes the fund's asset base. Funds cannibalize assets to maintain a dividend and keep shareholders happy. However - like feeding a cow its own milk - this p
EDGAR
Cannibalizing assets
Pension
401 K
31. A general and progressive increase in prices
Inflation
Lending Investments
FICA
Line of Credit
32. Things that incite or spur to action; rewards or reasons for performing a task.
Deductions
Tax Liability
Incentives
Estate Planning
33. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be
Will
Common Stock
Float
FICA
34. The interest rate that a bond issuer will pay to a bondholder
dividends
Pay Period
Coupon Rate
Overdraft protection
35. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Savings Account
Foreclosure
Disclosure
Bank Statement
36. An accounting entry acknowledging sums that are owing
Phishing
1040 tax form
Debit
On-Boarding
37. Having honest intentions
Float
Secured Debt
Annual Report
Good Faith
38. Savings account that pays market rate or better interest and allows access to funds without penalty.
I-9
Living Trust
Installment Loan
Money Market Accounts
39. A loan where the payment is acheived through interest
On-Boarding
Net Income
Indirect Car Loan
Interest-Only Loan
40. Shares of ownership in a company
Fixed-Rate Loan
Gross Income
Stock Exchanges
Stocks
41. Production of a certain amount
Yield
Market Capitalization
SEC Filings
Exemptions
42. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Living Trust
Loan Shark
Reconcile
Financial Institution
43. The maximum credit that a customer is allowed
401 K
Index Fund
Stock Exchanges
Line of Credit
44. The extent to which something is covered
Vesting
Coverage
Vesting
Total Debt
45. A bond with zero discounts
Salary
Zero-Coupon Bond
Time value of money
Exemption
46. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index
Net Worth
Index Fund
Direct Car Loan
Asset
47. A venture undertaken without regard to possible loss or injury
Return
Risk
Liability
401 K
48. The apparent worth as opposed to the real worth
Inflation
Credit
Face Value
Overdraft protection
49. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.
Loan
EDGAR
Investing
Zero-Coupon Bond
50. Money paid to a worker
Coupon Rate
Wage
Mortage
Interest-Only Loan