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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. An institution that issues something (securities or publications or currency etc.)
Insolvent
Par Value
Retirement Planning
Issuer
2. A debt; something disadvantageous
Present Value
Exchange-Traded Funds
Asset Allocation
Liability
3. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Net Income
Tax Liability
Deductible
Income
4. The process of managing one's assets and wealth
Wealth Management
Common Stock
Savings Account
Opportunity Cost
5. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.
Interest
W-4
Balance Sheet
Financial Needs
6. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Saving
Probate
Ownership Investments
Scarcity
7. A periodic statement prepared by a bank for each client
Probate
Bank Statement
Annual Report
Liability
8. 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.
Predatory Lending
Overdraft protection
Transfer Payments
Liability
9. A penalty for making a payment after the due date
Late Fee
Personal Budget
Secured Loan
Risk
10. The date on which a financial obligation must be repaid
Maturity Date
Stock Exchanges
Beneficiary
Coverage
11. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Face Value
Deductible
I-9
Securities
12. Someone who has insufficient assets to cover their debts
Asset Allocation
Insolvent
Fixed-Rate Loan
Mutual Funds
13. An obligation to pay money to another party
Investing
Fixed-Rate Loan
Distribution
Liability
14. Something of value; a resource; an advantage
Asset
Decison-making
Return
Insolvent
15. A venture undertaken without regard to possible loss or injury
Late Fee
Income
Risk
Certificates of Deposit
16. Prompt payment for goods or services in currency or by check
Cash
Balance Sheet
Mutual Funds
Profit
17. Maintain by writing regular records
EDGAR
Transaction Fee
Asset
Maintain
18. A long-term loan extended to someone who buys property
Mutual Funds
Mortage
Credit
Financial Institution
19. The financial gain (earned or unearned) accruing over a given period of time
Income
Nonprofit Organization
Maturity Date
Personal Budget
20. An accounting entry acknowledging sums that are owing
Stock Exchanges
Decison-making
Debit
Income
21. A bank account that accumulates interest
Credit
Issuer
Savings Account
Mutual Funds
22. Whatever must be given up to obtain some item
Opportunity Cost
Return
Securities
Ownership Investments
23. Making money for owning something
Ownership Investments
Bankruptcy
Stock Symbol
Opportunity Cost
24. An act of economizing
Credit
Resources
Opportunity Cost
Saving
25. Financial reports that summarize the financial condition and operations of a business
Asset
Index Fund
Foreclosure
Financial Statements
26. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Bond Rating
Good Faith
Financial Institution
Saving
27. The percentage of a sum of money charged for its use
Transaction Fee
Debit
Interest Rate
Secured Debt
28. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Phishing
Profit
Adjustable-Rate Loan
Preferred Stock
29. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Nonprofit Organization
Secured Loan
Present Value
Values
30. A payment given as a guarantee that an obligation will be met
Financial Statements
Debit
Market Capitalization
Deposit
31. A bond with zero discounts
Zero-Coupon Bond
Transaction
Yield
Tax Liability
32. Can be found in a newspaper and shows information about popular stocks.
Liability
Stock Table
Debit
Wage
33. Grant use or occupation of under a term of contract
Transaction
Rent
Interest Rate
Gross Income
34. Loan where the lender goes through the borrower
Cash
Direct Car Loan
Late Fee
Adjustable-Rate Loan
35. The right to take another's property if an obligation is not discharged
Mortage
Lien
Income Statement
Par Value
36. Savings account that pays market rate or better interest and allows access to funds without penalty.
Money Market Accounts
Cannibalizing assets
Time value of money
Balance
37. Stock other than preferred stock
Direct Car Loan
Common Stock
Mutual Funds
Living Trust
38. A debt not backed by specific property to satisfy the indebtedness in case of default.
Living Trust
Securities
Maturity Date
Unsecured Debt
39. Shares of ownership in a company
Stock Table
Stocks
Scarcity
Savings Register
40. 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
APR
Float
Bond Rating
Salary
41. A specific plan for spending your income
Deductible
Cannibalizing assets
Coverage
Personal Budget
42. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Cannibalizing assets
Transaction Fee
Savings Account
Deductible
43. Institution that functions much like a business - but does not operate for the purpose of generating profits
Foreclosure
Foreclosure
Time value of money
Nonprofit Organization
44. Total assets minus total liabilities
Phishing
Annual Fee
Net Worth
Bonds
45. Prompt payment for goods or services in currency or by check
Decison-making
Cash
On-Boarding
Maturity Date
46. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Collectibles
Consequence
Installment Loan
Statement of Cash Flows
47. The period covered by a salary payment
Vesting
Indirect Car Loan
Pay Period
Asset
48. The process of managing one's assets and wealth
Withdrawal
Resources
Yield
Wealth Management
49. A general and progressive increase in prices
EDGAR
Liability
Inflation
Distribution
50. A debt not backed by specific property to satisfy the indebtedness in case of default.
Time value of money
Living Trust
Consequence
Unsecured Debt