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Test your basic knowledge |
Wealth Management
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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. Income on which tax must be paid; total income minus exemptions and deductions
Asset
Asset
Taxable Income
Transaction
2. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Loan
401 K
EFT
Financial Statements
3. A payment given as a guarantee that an obligation will be met
Profit
Deposit
Living Trust
Lien
4. The amount of tax owed
Savings Account
401 K
Savings Register
Tax Liability
5. The amount of money you would need to deposit now in order to attain a desired amount in the future
Index Fund
Present Value
SEC Filings
Balance
6. An accounting entry acknowledging income or capital items
Ownership Investments
Risk
Direct Car Loan
Credit
7. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
SEC Filings
Face Value
Deductions
Values
8. The money(usually a set amount) given to an individual to spend
Identity Theft
Probate
Personal Allowances
Securities
9. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Statement of Cash Flows
Transaction Fee
Balance Sheet
Bond Rating
10. An automatic loan made to you if you write a check for more money than you have in your account
Overdraft protection
Ownership Investments
Financial Institution
Opportunity Cost
11. A person appointed by a testator to carry out the terms of the will
Common Stock
Annual Fee
Executor
Stock Exchanges
12. 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
Deductible
Exemptions
Overdraft protection
Lending Investments
13. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Securities
Bank Statement
Allocation
Total Assets
14. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Values
Good Faith
SEC Filings
Interest-Only Loan
15. A long-term loan extended to someone who buys property
Saving
Deduction
Asset
Mortage
16. An obligation to pay money to another party
Liability
EFT
Insolvent
Predatory Lending
17. An amount that credit card companies can charge for the use of a credit card.
Expenses
Financial Institution
Annual Fee
Total Debt
18. A specific plan for spending your income
Personal Budget
Lien
Bonds
Line of Credit
19. The act of lending money at an exorbitant rate of interest
On-Boarding
Exemptions
Personal Budget
Usury
20. Place to create a savings account.
Maintain
Transaction Fee
Savings Register
Pension
21. Can be found in a newspaper and shows information about popular stocks.
Bond Rating
Total Assets
Stock Table
Income Statement
22. A loan in which the rate can be altered to adjust to economical need
Adjustable-Rate Loan
Insurance
Identity Theft
Stock Table
23. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Debt Consolidation
1040 tax form
Profit
Deductible
24. Making money for owning something
Financial Goals
SEC Filings
Ownership Investments
Deduction
25. The act of reducing the selling price of merchandise
Deduction
Consequence
Transaction Fee
Taxable Income
26. The extent to which something is covered
Bank Statement
Transaction
Coverage
Reconcile
27. The time interval between the deposit of a check in a bank and its payment
Phishing
Stock Exchanges
Float
Pension
28. A record of checks written and deposits made in a checking account - kept by the depositor
Nonprofit Organization
Checkbook Register
Values
Net Income
29. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Ownership Investments
Risk
Deposit
Vesting
30. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.
SEC Filings
Loan
Common Stock
Securities
31. The amount accruing to the corporations owners
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32. Total assets minus total liabilities
Net Worth
Secured Loan
Adjusted Gross Income
Billing Statement
33. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Time value of money
Savings Register
Deduction
SEC Filings
34. Something that is made open or revealed
Return
Distribution
Mutual Funds
Disclosure
35. 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 Rate
Executor
Cannibalizing assets
Money Market Accounts
36. Production of a certain amount
Debit
Yield
Risk
Statement of Cash Flows
37. Give back (tax return)
Return
Shares Outstanding
Will
Balance Sheet
38. An accounting entry acknowledging income or capital items
Credit
Opportunity Cost
Asset
Net Worth
39. Prompt payment for goods or services in currency or by check
Secured Loan
Cash
Payday Loan
Stock Exchanges
40. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
1040 tax form
Maturity Date
Expenses
Payday Loan
41. The economical needs of an individual
Financial Needs
On-Boarding
Balance
Personal Budget
42. An accounting entry acknowledging sums that are owing
Asset
Debit
Forbearance
Index Fund
43. A financial statement that gives operating results for a specific period
Income Statement
Asset
Preferred Stock
Saving
44. A yearly statement of the financial condition - progress - and expectations of an organization
Salary
Nonprofit Organization
Incentives
Annual Report
45. Is your gross income after certain reductions have been made
Adjusted Gross Income
Par Value
Net Income
Tax Liability
46. A penalty for making a payment after the due date
Trade-off
Asset
Risk
Late Fee
47. Having honest intentions
Foreclosure
Estate Planning
Good Faith
Living Trust
48. Programs aimed at helping employees integrate - assimilate - and transition to new jobs
Self-Interest
Return
On-Boarding
Disclosure
49. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Nonprofit Organization
Profit
Secured Debt
Statement of Cash Flows
50. The process of managing one's assets and wealth
Phishing
Bond Rating
Wealth Management
Transaction
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