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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. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Time value of money
Cannibalizing assets
Risk
Exemption
2. Is your gross income after certain reductions have been made
Asset Allocation
Profit
Living Trust
Adjusted Gross Income
3. Something that is made open or revealed
Present Value
Allocation
Maturity Date
Disclosure
4. Anything that is used to produce goods or services
Ownership Investments
Interest Rate
Resources
EDGAR
5. Savings account that pays market rate or better interest and allows access to funds without penalty.
Nonprofit Organization
Bankruptcy
Direct Car Loan
Money Market Accounts
6. Income before taxes
Gross Income
Credit
Financial Statements
Liability
7. An institution that issues something (securities or publications or currency etc.)
Forbearance
Liability
Issuer
Maturity Date
8. 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.
Living Trust
Secured Debt
Zero-Coupon Bond
Transaction
9. A delay in enforcing rights or claims or privileges
W-4
Statement of Cash Flows
Trade-off
Forbearance
10. Can be found in a newspaper and shows information about popular stocks.
Ownership Investments
Stock Table
Inflation
Mutual Funds
11. The percentage of a sum of money charged for its use
Deductible
FICA
Interest Rate
Income
12. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Adjusted Gross Income
Vesting
Financial Statements
Disclosure
13. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Gross Income
Payday Loan
On-Boarding
Adjusted Gross Income
14. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Income Statement
Maintain
Liability
1040 EZ tax form
15. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.
Lending Investments
Interest Rate
Savings Register
Float
16. Institution that functions much like a business - but does not operate for the purpose of generating profits
Stocks
Nonprofit Organization
Reconcile
Secured Debt
17. An evaluation by a rating company of the probability that a particular bond issue will default
Liability
Net Worth
Bond Rating
Financial Institution
18. A loan where the payment is acheived through interest
Stock Exchanges
Cannibalizing assets
Inflation
Interest-Only Loan
19. Simplified IRS tax form which some individuals can file instead of the 1040 form.
I-9
Maturity Date
Lending Investments
1040 EZ tax form
20. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
FICA
Beneficiary
Asset
Statement of Cash Flows
21. The process of managing one's assets and wealth
Wealth Management
Return
Investing
Present Value
22. Diagnosis Codes (in CCB Popup if more then 5 codes)
FICA
I-9
Disclosure
Forbearance
23. 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
Bank Statement
Pay Period
FICA
Personal Allowances
24. An exchange that occurs as a compromise
Liability
Trade-off
Retirement Planning
Probate
25. A bank account that accumulates interest
Pension
Balance
Line of Credit
Savings Account
26. Financial organization that pools people's money and invests it
Mutual Funds
Profit
Overdraft protection
Income Statement
27. A delay in enforcing rights or claims or privileges
Transfer Payments
Forbearance
Premium
Time value of money
28. A fixed charge for borrowing money
dividends
Stock Table
Lending Investments
Interest
29. Payment for insurance
Maturity Date
Premium
Reconcile
Common Stock
30. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Pay Period
Probate
APR
Financial Needs
31. Maintain by writing regular records
Tax Liability
Index Fund
Consequence
Maintain
32. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Phishing
Asset Allocation
Stockholders' Equity
Incentives
33. The outcome of an event especially as relative to an individual
Asset Allocation
Distribution
Total Assets
Consequence
34. Something of value; a resource; an advantage
Decison-making
Asset
Secured Debt
Annual Fee
35. The process of managing one's assets and wealth
Cash
Reconcile
Living Trust
Wealth Management
36. All costs or bills related to the business
Float
Expenses
Net Worth
Late Fee
37. A person appointed by a testator to carry out the terms of the will
Executor
Financial Goals
Issuer
Wealth Management
38. The distribution of investment funds among broad classes of assets.
Asset Allocation
Balance Sheet
Balance
Shares Outstanding
39. An act of economizing
Bond Rating
Financial Goals
Pension
Saving
40. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.
Annual Report
Distribution
Bond Rating
Loan
41. An automatic loan made to you if you write a check for more money than you have in your account
Overdraft protection
Estate Planning
Interest Rate
401 K
42. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Issuer
Values
Billing Statement
Index Fund
43. The right to take another's property if an obligation is not discharged
Interest Rate
Probate
Lien
Market Capitalization
44. The process of making a decision - usually complex
Cannibalizing assets
Salary
Decison-making
Bank Statement
45. Compute credits and debits of an account
Balance
Bond Rating
Self-Interest
FICA
46. Electronic Funds Transfer
EFT
Secured Debt
On-Boarding
Loan Shark
47. 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.
Financial Statements
Retirement Planning
Par Value
Predatory Lending
48. A general and progressive increase in prices
Certificates of Deposit
Disclosure
Inflation
dividends
49. Financial organization that pools people's money and invests it
Forbearance
Balance
Mutual Funds
Money Market Accounts
50. Arrangement for deferred payment for goods and services
Opportunity Cost
Balance Sheet
Credit
Rent