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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. Income before taxes
Adjustable-Rate Loan
Gross Income
Lending Investments
Self-Interest
2. Total assets minus total liabilities
Forbearance
Profit
Net Worth
Executor
3. An accounting entry acknowledging sums that are owing
Debit
Salary
Statement of Cash Flows
Expenses
4. Whatever must be given up to obtain some item
Adjustable-Rate Loan
Transaction Fee
Preferred Stock
Opportunity Cost
5. 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
Executor
Identity Theft
Direct Car Loan
Float
6. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Exemption
I-9
Present Value
SEC Filings
7. The act of reducing the selling price of merchandise
Statement of Cash Flows
Deduction
Allocation
Taxable Income
8. Maintain by writing regular records
Bonds
Opportunity Cost
Inflation
Maintain
9. A fixed charge for borrowing money
Unsecured Loan
Saving
Interest
EDGAR
10. Payment for insurance
Statement of Cash Flows
Maintain
Premium
Face Value
11. The financial gain (earned or unearned) accruing over a given period of time
Disclosure
401 K
Income
Allocation
12. Grant use or occupation of under a term of contract
Compound Interest
Values
401 K
Rent
13. A venture undertaken without regard to possible loss or injury
Exemptions
Credit
Collectibles
Risk
14. The money paid for employee services
Billing Statement
Salary
Ownership Investments
Identity Theft
15. Something that is made open or revealed
Disclosure
Living Trust
1040 tax form
Ownership Investments
16. The act of lending money at an exorbitant rate of interest
Financial Institution
Usury
Money Market Accounts
Exemptions
17. The maximum credit that a customer is allowed
Interest-Only Loan
Balance
Incentives
Line of Credit
18. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be
Property Rights
Taxable Income
FICA
Incentives
19. 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
Pay Period
Late Fee
Debt Consolidation
20. An accounting entry acknowledging income or capital items
Pension
Credit
Money Market Accounts
Liability
21. The process of managing one's assets and wealth
Values
Adjustable-Rate Loan
Ownership Investments
Wealth Management
22. Loan with equal number of payments of the same amount over a fixed period of time.
Financial Needs
Installment Loan
Total Assets
Zero-Coupon Bond
23. Making money for owning something
Ownership Investments
Profit
Mutual Funds
Liability
24. Profits paid to investors
Lending Investments
Unsecured Loan
Debt Consolidation
dividends
25. An act of economizing
Inflation
Predatory Lending
Saving
Lending Investments
26. An obligation to pay money to another party
Statement of Cash Flows
Liability
Nonprofit Organization
Pay Period
27. A periodic statement prepared by a bank for each client
Bank Statement
Billing Statement
Interest-Only Loan
Savings Register
28. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Profit
Credit
Direct Car Loan
1040 EZ tax form
29. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Phishing
Income Statement
Adjustable-Rate Loan
Foreclosure
30. Stock other than preferred stock
Property Rights
Checkbook Register
Common Stock
Deposit
31. The act of lending money at an exorbitant rate of interest
Usury
Coupon Rate
Secured Debt
EDGAR
32. Money paid to a worker
Market Capitalization
Wage
Overdraft protection
Decison-making
33. A yearly statement of the financial condition - progress - and expectations of an organization
Annual Report
Time value of money
Forbearance
Foreclosure
34. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be
Checkbook Register
Asset Allocation
FICA
Income
35. 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
Exemptions
Adjusted Gross Income
Loan Shark
Financial Goals
36. A loan backed by something valuable - such as property
Liability
Secured Loan
Secured Debt
Interest-Only Loan
37. A person appointed by a testator to carry out the terms of the will
Executor
On-Boarding
Mortage
Wealth Management
38. The percentage of a sum of money charged for its use
Bankruptcy
Maintain
Mutual Funds
Interest Rate
39. The amount of tax owed
Wage
Zero-Coupon Bond
Collectibles
Tax Liability
40. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Deduction
Zero-Coupon Bond
Time value of money
Secured Loan
41. The process of managing one's assets and wealth
Wealth Management
Total Assets
Ownership Investments
Will
42. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers
APR
Phishing
Savings Account
Credit
43. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Index Fund
SEC Filings
Late Fee
Secured Debt
44. An automatic loan made to you if you write a check for more money than you have in your account
Mutual Funds
Overdraft protection
Identity Theft
Money Market Accounts
45. Is your gross income after certain reductions have been made
Adjusted Gross Income
Mutual Funds
Statement of Cash Flows
Time value of money
46. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Face Value
Preferred Stock
Identity Theft
Usury
47. A loan where the payment is acheived through interest
Interest-Only Loan
Annual Fee
Executor
On-Boarding
48. Can be found in a newspaper and shows information about popular stocks.
Secured Loan
Face Value
Index Fund
Stock Table
49. The right to take another's property if an obligation is not discharged
Lien
Liability
Float
Face Value
50. A specific plan for spending your income
Issuer
Interest Rate
Personal Budget
Stocks
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