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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 act of reducing the selling price of merchandise
Indirect Car Loan
Saving
Deductible
Deduction
2. Preparing a plan for transferring property during one's lifetime and at one's death
Par Value
Cash
EDGAR
Estate Planning
3. A debt; something disadvantageous
Liability
Savings Register
EDGAR
Asset
4. A legal document declaring a person's wishes regarding the disposal of their property when they die
Will
Pay Period
Deductions
Mutual Funds
5. Savings account that pays market rate or better interest and allows access to funds without penalty.
Money Market Accounts
Annual Fee
Mutual Funds
Issuer
6. Maintain by writing regular records
Maintain
Financial Institution
Issuer
Ownership Investments
7. Protection against future loss
Insurance
Exemptions
Inflation
Consequence
8. Someone who has insufficient assets to cover their debts
Insolvent
Executor
Billing Statement
Personal Budget
9. 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
401 K
Exemptions
Overdraft protection
Transfer Payments
10. The distribution of investment funds among broad classes of assets.
Bankruptcy
Installment Loan
Asset Allocation
Market Capitalization
11. Shares of ownership in a company
Credit
Stocks
Asset Allocation
Deduction
12. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Transaction Fee
Financial Statements
Loan
Market Capitalization
13. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Estate Planning
Time value of money
Maturity Date
Financial Goals
14. A periodic statement prepared by a bank for each client
Tax Liability
Saving
Bank Statement
Stock Table
15. The act of taking out money or other capital
dividends
Fixed-Rate Loan
Stock Table
Withdrawal
16. The economical needs of an individual
APR
Financial Needs
Overdraft protection
Direct Car Loan
17. A bank account that accumulates interest
Executor
Withdrawal
Savings Account
Annual Report
18. The financial gain (earned or unearned) accruing over a given period of time
Billing Statement
Total Debt
Credit
Income
19. The interest rate that a bond issuer will pay to a bondholder
Mortage
Coupon Rate
Transaction Fee
Investing
20. A venture undertaken without regard to possible loss or injury
Risk
Consequence
Consequence
401 K
21. Maintain by writing regular records
Adjustable-Rate Loan
Premium
Maintain
Vesting
22. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Bank Statement
Allocation
Probate
Deductible
23. A bond with zero discounts
Zero-Coupon Bond
Liability
Incentives
Trade-off
24. The act of taking out money or other capital
FICA
Wage
Bank Statement
Withdrawal
25. 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.
Wage
Predatory Lending
Living Trust
Transfer Payments
26. A loan that is paid off in a fixed rate over a period of time
Net Worth
Financial Needs
Line of Credit
Fixed-Rate Loan
27. Income on which tax must be paid; total income minus exemptions and deductions
Taxable Income
Par Value
Good Faith
401 K
28. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Debt Consolidation
Reconcile
Time value of money
Expenses
29. The financial gain (earned or unearned) accruing over a given period of time
1040 EZ tax form
Total Assets
Income
Ownership Investments
30. Loan with equal number of payments of the same amount over a fixed period of time.
Exemption
Installment Loan
Deposit
Reconcile
31. A legal document declaring a person's wishes regarding the disposal of their property when they die
Ownership Investments
Adjustable-Rate Loan
Will
Incentives
32. An institution that issues something (securities or publications or currency etc.)
Identity Theft
Issuer
Resources
Installment Loan
33. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Probate
Mutual Funds
Adjustable-Rate Loan
Phishing
34. Arrangement for deferred payment for goods and services
Credit
Deductions
Wage
Deductible
35. A loan in which the rate can be altered to adjust to economical need
Adjustable-Rate Loan
I-9
Expenses
Foreclosure
36. The recipient of funds or other benefits
dividends
Face Value
Beneficiary
Time value of money
37. The process of managing one's assets and wealth
Mutual Funds
Mutual Funds
Wealth Management
Retirement Planning
38. 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.
Unsecured Loan
Predatory Lending
Certificates of Deposit
Statement of Cash Flows
39. A record of checks written and deposits made in a checking account - kept by the depositor
Savings Account
Checkbook Register
EFT
Allocation
40. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Interest Rate
Billing Statement
Bankruptcy
Deduction
41. Grant use or occupation of under a term of contract
Coverage
Rent
EDGAR
SEC Filings
42. Limited quantities of resources to meet unlimited wants
Good Faith
Adjustable-Rate Loan
Scarcity
Loan
43. Loan deal in which the actual lender may not be known to the borrower.
Yield
Lien
Consequence
Indirect Car Loan
44. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Float
401 K
Statement of Cash Flows
Transfer Payments
45. A yearly statement of the financial condition - progress - and expectations of an organization
Annual Report
Pension
Transfer Payments
Rent
46. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Payday Loan
Interest Rate
Stock Exchanges
Incentives
47. By planning ahead you can ensure financial stability during your retirement.
Decison-making
Retirement Planning
Liability
Net Income
48. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.
Estate Planning
Investing
Retirement Planning
Income Statement
49. Making money for owning something
Exemptions
Ownership Investments
Beneficiary
Fixed-Rate Loan
50. The distribution of investment funds among broad classes of assets.
Bonds
Decison-making
Asset Allocation
Estate Planning