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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 fixed charge for borrowing money
Interest
I-9
Interest-Only Loan
Insolvent
2. 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
Mutual Funds
Decison-making
Cannibalizing assets
Financial Institution
3. The process of making a decision - usually complex
Pay Period
Bank Statement
EDGAR
Decison-making
4. Loan deal in which the actual lender may not be known to the borrower.
Unsecured Loan
Indirect Car Loan
Transaction
Maintain
5. An exchange that occurs as a compromise
Lien
Trade-off
Secured Debt
Cannibalizing assets
6. An accounting entry acknowledging income or capital items
Income Statement
Credit
Bankruptcy
Rent
7. The outcome of an event especially as relative to an individual
Retirement Planning
Consequence
Predatory Lending
Gross Income
8. A loan backed by something valuable - such as property
Beneficiary
Secured Loan
Stock Table
Exemption
9. 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.
Statement of Cash Flows
Reconcile
Money Market Accounts
Interest Rate
10. 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
Credit
Coverage
Exemptions
Bonds
11. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Annual Fee
Bankruptcy
Rent
Foreclosure
12. A record of checks written and deposits made in a checking account - kept by the depositor
Mortage
Ownership Investments
W-4
Checkbook Register
13. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Beneficiary
Unsecured Loan
Pay Period
Transaction
14. The date on which a financial obligation must be repaid
Mortage
Rent
Compound Interest
Maturity Date
15. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Transaction Fee
Payday Loan
Investing
Withdrawal
16. A periodic statement prepared by a bank for each client
Good Faith
Deduction
Foreclosure
Bank Statement
17. Financial reports that summarize the financial condition and operations of a business
Financial Statements
Deductible
Values
Allocation
18. A venture undertaken without regard to possible loss or injury
Bond Rating
Risk
Loan
Asset Allocation
19. The extent to which something is covered
Good Faith
Coverage
Exemptions
Property Rights
20. Something that is made open or revealed
Disclosure
Liability
Return
Credit
21. Prompt payment for goods or services in currency or by check
Total Debt
Coverage
On-Boarding
Cash
22. Income on which tax must be paid; total income minus exemptions and deductions
Stockholders' Equity
Stock Exchanges
Taxable Income
Annual Report
23. The recipient of funds or other benefits
Beneficiary
Return
Total Debt
FICA
24. A payment given as a guarantee that an obligation will be met
Bonds
Deposit
Return
Checkbook Register
25. Programs aimed at helping employees integrate - assimilate - and transition to new jobs
Securities
Foreclosure
Adjustable-Rate Loan
On-Boarding
26. A periodic statement prepared by a bank for each client
Savings Register
Index Fund
Personal Allowances
Bank Statement
27. Give back (tax return)
Estate Planning
Return
Probate
Pension
28. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Present Value
Expenses
SEC Filings
Insolvent
29. The interest rate that a bond issuer will pay to a bondholder
Stockholders' Equity
Liability
Transaction
Coupon Rate
30. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Personal Budget
Incentives
Financial Institution
Cash
31. The value of a security that is set by the company issuing it
Insurance
Par Value
Stock Exchanges
Tax Liability
32. Someone who has insufficient assets to cover their debts
Identity Theft
Insolvent
Interest Rate
401 K
33. Compute credits and debits of an account
On-Boarding
Wealth Management
Annual Report
Balance
34. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Annual Report
Float
Risk
Preferred Stock
35. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Living Trust
Transfer Payments
Financial Institution
Deposit
36. The money(usually a set amount) given to an individual to spend
Personal Allowances
Asset Allocation
Trade-off
Exemptions
37. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Wealth Management
1040 EZ tax form
Savings Account
Personal Budget
38. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share
Money Market Accounts
Disclosure
Market Capitalization
Trade-off
39. Things that incite or spur to action; rewards or reasons for performing a task.
Pension
Wealth Management
Forbearance
Incentives
40. The co-option of another person's personal information (e.g. - name - social security number - credit card number - passport) without that person's knowledge and the fraudulent use of such knowledge
Financial Statements
Identity Theft
Asset
Adjusted Gross Income
41. A regular payment to a person that iis intended to allow them to subsist without working
Savings Account
Pension
Loan
Interest
42. Financial organization that pools people's money and invests it
Coupon Rate
Mutual Funds
Deposit
Loan
43. The financial gain (earned or unearned) accruing over a given period of time
Balance
Transaction Fee
Income
Installment Loan
44. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Vesting
EDGAR
Profit
Time value of money
45. Bring into consonance or accord - to agree on terms
EDGAR
Gross Income
Reconcile
Values
46. Payment for insurance
Premium
Rent
Cannibalizing assets
W-4
47. Shares of ownership in a company
1040 EZ tax form
Stocks
Savings Account
Common Stock
48. The process of managing one's assets and wealth
1040 EZ tax form
Property Rights
Wealth Management
W-4
49. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Balance Sheet
Financial Goals
APR
Decison-making
50. A penalty for making a payment after the due date
Bank Statement
Late Fee
SEC Filings
Liability