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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. The apparent worth as opposed to the real worth
Face Value
Unsecured Debt
Shares Outstanding
Predatory Lending
2. The act of taking out money or other capital
Secured Loan
Withdrawal
Overdraft protection
Opportunity Cost
3. A financial statement that gives operating results for a specific period
Unsecured Loan
Lien
Income Statement
Deposit
4. Bring into consonance or accord - to agree on terms
1040 EZ tax form
Trade-off
Reconcile
Lien
5. An accounting entry acknowledging sums that are owing
Adjustable-Rate Loan
Debit
Time value of money
Risk
6. A business activity that changes assets - liabilities - or owner's equity
Trade-off
Transaction
Unsecured Loan
EFT
7. Arrangement for deferred payment for goods and services
Liability
Credit
Consequence
Statement of Cash Flows
8. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Financial Goals
Total Assets
Compound Interest
Self-Interest
9. A debt not backed by specific property to satisfy the indebtedness in case of default.
Insolvent
Maintain
Withdrawal
Unsecured Debt
10. Give back (tax return)
Deposit
Saving
Return
Net Worth
11. Electronic Funds Transfer
EFT
Face Value
Financial Goals
Mortage
12. A fixed charge for borrowing money
Interest
Decison-making
Inflation
Mutual Funds
13. Give back (tax return)
Transaction
Return
Shares Outstanding
Coupon Rate
14. Profits paid to investors
Profit
Present Value
EFT
dividends
15. Prompt payment for goods or services in currency or by check
Time value of money
Cash
Interest
Checkbook Register
16. Someone who lends money at excessive rates of interest
Loan Shark
Personal Budget
Expenses
Taxable Income
17. Someone who has insufficient assets to cover their debts
dividends
Taxable Income
Deductible
Insolvent
18. A loan backed by something valuable - such as property
Money Market Accounts
Bankruptcy
Secured Loan
Insolvent
19. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
401 K
Net Income
Stock Table
Bond Rating
20. The amount of tax owed
Trade-off
Tax Liability
Transaction Fee
Secured Debt
21. The act of lending money at an exorbitant rate of interest
Installment Loan
Mutual Funds
Usury
Liability
22. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Resources
Mutual Funds
Payday Loan
Checkbook Register
23. Institution that functions much like a business - but does not operate for the purpose of generating profits
Income Statement
Cannibalizing assets
Income Statement
Nonprofit Organization
24. A general and progressive increase in prices
Balance
Inflation
Interest Rate
Line of Credit
25. The distribution of investment funds among broad classes of assets.
Credit
EFT
Loan Shark
Asset Allocation
26. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Float
SEC Filings
1040 EZ tax form
Lien
27. An exchange that occurs as a compromise
Will
Collectibles
Property Rights
Trade-off
28. An evaluation by a rating company of the probability that a particular bond issue will default
Self-Interest
Bond Rating
Usury
Disclosure
29. 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.
Interest-Only Loan
Asset
Statement of Cash Flows
Interest Rate
30. Maintain by writing regular records
Maintain
Personal Allowances
Insurance
On-Boarding
31. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Financial Institution
Identity Theft
Net Income
Transaction Fee
32. A fixed charge for borrowing money
Interest
FICA
On-Boarding
Adjustable-Rate Loan
33. Income before taxes
401 K
Adjusted Gross Income
Gross Income
Income Statement
34. 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
Cannibalizing assets
Adjustable-Rate Loan
Bank Statement
Maturity Date
35. 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.
dividends
Exchange-Traded Funds
Predatory Lending
Scarcity
36. 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.
1040 tax form
Income Statement
Predatory Lending
Ownership Investments
37. Things that incite or spur to action; rewards or reasons for performing a task.
Saving
Incentives
Par Value
Asset Allocation
38. A regular payment to a person that iis intended to allow them to subsist without working
Decison-making
Pension
Gross Income
Investing
39. Bring into consonance or accord - to agree on terms
Financial Statements
Deposit
Credit
Reconcile
40. Financial organization that pools people's money and invests it
Transfer Payments
Mutual Funds
Disclosure
Predatory Lending
41. The commercial activity of transporting and selling goods from a producer to a consumer
Risk
Unsecured Debt
Pension
Distribution
42. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Pay Period
Disclosure
Deductible
Cannibalizing assets
43. Loan with equal number of payments of the same amount over a fixed period of time.
Secured Debt
Deduction
Installment Loan
Insurance
44. A bond with zero discounts
Investing
Deductions
Zero-Coupon Bond
Salary
45. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Interest
Certificates of Deposit
Debt Consolidation
Risk
46. Place to create a savings account.
Savings Register
401 K
Mutual Funds
Installment Loan
47. Money paid to a worker
Net Worth
Secured Debt
On-Boarding
Wage
48. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Coupon Rate
I-9
Nonprofit Organization
Exemption
49. A share set aside for a specific purpose
Allocation
Scarcity
Unsecured Loan
Annual Report
50. A specific plan for spending your income
Phishing
Values
Personal Budget
Living Trust