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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 deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Salary
Lending Investments
Line of Credit
Exemption
2. A periodic statement prepared by a bank for each client
Zero-Coupon Bond
Statement of Cash Flows
Pay Period
Bank Statement
3. The rights of an individual to own - use - rent - invest in - buy - and sell property.
1040 tax form
Cannibalizing assets
Cannibalizing assets
Property Rights
4. The process of managing one's assets and wealth
Wealth Management
Rent
Withdrawal
Phishing
5. A business activity that changes assets - liabilities - or owner's equity
Transaction
Bankruptcy
Par Value
Unsecured Loan
6. Concern for ones own well being and advantages
Lien
Income
Self-Interest
Income Statement
7. Someone who lends money at excessive rates of interest
Loan Shark
Consequence
Overdraft protection
Wage
8. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Profit
Foreclosure
Saving
Property Rights
9. Limited quantities of resources to meet unlimited wants
Scarcity
Distribution
Financial Statements
401 K
10. Making money for owning something
Credit
Ownership Investments
Late Fee
Loan
11. 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
Secured Debt
Identity Theft
Balance
Exemptions
12. A penalty for making a payment after the due date
Zero-Coupon Bond
Late Fee
Inflation
Deductions
13. An accounting entry acknowledging sums that are owing
Debit
Stock Symbol
Usury
Total Assets
14. Financial organization that pools people's money and invests it
Mutual Funds
Investing
Financial Statements
Stockholders' Equity
15. Protection against future loss
Mutual Funds
Yield
Cannibalizing assets
Insurance
16. Financial reports that summarize the financial condition and operations of a business
Stock Symbol
Will
Bonds
Financial Statements
17. A legal document declaring a person's wishes regarding the disposal of their property when they die
Money Market Accounts
Ownership Investments
Will
Annual Report
18. Preparing a plan for transferring property during one's lifetime and at one's death
Loan
Estate Planning
Exemption
Coupon Rate
19. The period covered by a salary payment
Lending Investments
Pay Period
Foreclosure
Stock Exchanges
20. Profits paid to investors
Vesting
Allocation
dividends
Consequence
21. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Direct Car Loan
Balance Sheet
Usury
Liability
22. Savings account that pays market rate or better interest and allows access to funds without penalty.
Maintain
Money Market Accounts
Estate Planning
Trade-off
23. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.
Transfer Payments
Yield
Line of Credit
Risk
24. Someone who has insufficient assets to cover their debts
On-Boarding
Coupon Rate
Mutual Funds
Insolvent
25. Institution that functions much like a business - but does not operate for the purpose of generating profits
Par Value
Interest Rate
Billing Statement
Nonprofit Organization
26. Grant use or occupation of under a term of contract
Rent
Bank Statement
Late Fee
Interest
27. The recipient of funds or other benefits
Beneficiary
Wage
Financial Needs
Decison-making
28. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Exemptions
Transaction
Probate
EFT
29. An institution that issues something (securities or publications or currency etc.)
Cash
Mutual Funds
Issuer
Transfer Payments
30. 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
Net Income
Identity Theft
Float
Stock Exchanges
31. Something that is made open or revealed
Debt Consolidation
Disclosure
Personal Allowances
1040 tax form
32. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Zero-Coupon Bond
401 K
Wage
Money Market Accounts
33. The amount accruing to the corporations owners
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34. Preparing a plan for transferring property during one's lifetime and at one's death
Wealth Management
Estate Planning
Usury
Certificates of Deposit
35. Production of a certain amount
Lending Investments
Yield
Shares Outstanding
Deductions
36. 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.
Wage
On-Boarding
Money Market Accounts
Interest Rate
37. Grant use or occupation of under a term of contract
Good Faith
Disclosure
Rent
Investing
38. A fixed charge for borrowing money
Net Income
Tax Liability
Will
Interest
39. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Billing Statement
Foreclosure
Maturity Date
Interest Rate
40. The maximum credit that a customer is allowed
Allocation
On-Boarding
Line of Credit
Float
41. A share set aside for a specific purpose
Money Market Accounts
Allocation
Payday Loan
Insolvent
42. The right to take another's property if an obligation is not discharged
Financial Needs
Adjusted Gross Income
Stock Exchanges
Lien
43. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Certificates of Deposit
Allocation
Forbearance
Mutual Funds
44. Anything that is used to produce goods or services
Resources
Credit
Financial Statements
Inflation
45. All costs or bills related to the business
Expenses
Nonprofit Organization
Opportunity Cost
Personal Budget
46. The financial gain (earned or unearned) accruing over a given period of time
Living Trust
Income
Pay Period
Identity Theft
47. A debt not backed by specific property to satisfy the indebtedness in case of default.
Gross Income
Asset Allocation
Time value of money
Unsecured Debt
48. Someone who has insufficient assets to cover their debts
Insolvent
APR
Yield
Decison-making
49. The process of managing one's assets and wealth
Securities
Total Assets
Rent
Wealth Management
50. A penalty for making a payment after the due date
FICA
Disclosure
Deposit
Late Fee