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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. Arrangement for deferred payment for goods and services
Time value of money
Total Assets
Secured Debt
Credit
2. A loan in which the rate can be altered to adjust to economical need
Compound Interest
Net Worth
Mutual Funds
Adjustable-Rate Loan
3. 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.
Distribution
Financial Goals
Annual Report
Investing
4. A debt; something disadvantageous
Liability
Fixed-Rate Loan
Transaction
Cash
5. A loan that is paid off in a fixed rate over a period of time
FICA
Line of Credit
Fixed-Rate Loan
Financial Institution
6. Income before taxes
Gross Income
Premium
Risk
Tax Liability
7. The apparent worth as opposed to the real worth
Certificates of Deposit
Face Value
Forbearance
Bankruptcy
8. Someone who lends money at excessive rates of interest
Lien
Allocation
Balance Sheet
Loan Shark
9. An evaluation by a rating company of the probability that a particular bond issue will default
Stockholders' Equity
Unsecured Debt
Bond Rating
Present Value
10. The amount of tax owed
Stock Table
Financial Needs
Net Income
Tax Liability
11. The amount of tax owed
Tax Liability
Annual Report
Money Market Accounts
Unsecured Loan
12. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Scarcity
I-9
Foreclosure
Income Statement
13. The rights of an individual to own - use - rent - invest in - buy - and sell property.
Identity Theft
Property Rights
Deductions
Pay Period
14. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Estate Planning
Debt Consolidation
Salary
Preferred Stock
15. 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
Cash
Allocation
Stocks
16. The interest rate that a bond issuer will pay to a bondholder
Stock Exchanges
Trade-off
Executor
Coupon Rate
17. Loan with equal number of payments of the same amount over a fixed period of time.
Installment Loan
Insolvent
Deductions
Common Stock
18. 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
Liability
Good Faith
Living Trust
Exemptions
19. 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
Annual Report
APR
Resources
Zero-Coupon Bond
20. Someone who has insufficient assets to cover their debts
Exemption
Insolvent
Stock Exchanges
Financial Institution
21. An obligation to pay money to another party
Index Fund
Liability
Gross Income
Net Worth
22. Compute credits and debits of an account
Withdrawal
Incentives
Checkbook Register
Balance
23. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Installment Loan
Balance Sheet
Payday Loan
Stocks
24. A debt; something disadvantageous
Deductions
Liability
Scarcity
Personal Budget
25. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Phishing
Debit
Exemption
Rent
26. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received
401 K
Predatory Lending
Net Income
Bonds
27. The shares available to sell/buy
Fixed-Rate Loan
Shares Outstanding
Financial Statements
Stock Symbol
28. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index
Deductible
Index Fund
Annual Fee
Debt Consolidation
29. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies
Secured Debt
Premium
Statement of Cash Flows
EDGAR
30. A regular payment to a person that iis intended to allow them to subsist without working
Unsecured Loan
Pension
Annual Fee
Decison-making
31. Financial organization that pools people's money and invests it
Savings Account
Mutual Funds
Line of Credit
Transaction
32. An accounting entry acknowledging income or capital items
Taxable Income
Credit
Zero-Coupon Bond
Float
33. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Salary
Balance Sheet
Beneficiary
Foreclosure
34. A bank account that accumulates interest
Salary
Savings Account
Scarcity
Exemption
35. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Debit
Wealth Management
Debt Consolidation
Wage
36. Money paid to a worker
Forbearance
Exemption
Bank Statement
Wage
37. Certificates that represent money the government has borrowed from private citizens
Property Rights
Retirement Planning
Allocation
Bonds
38. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Stock Exchanges
Interest
Living Trust
Lending Investments
39. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Profit
Decison-making
Total Assets
Present Value
40. Loan where the lender goes through the borrower
FICA
Checkbook Register
Direct Car Loan
Reconcile
41. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Zero-Coupon Bond
Exemptions
Taxable Income
Time value of money
42. Production of a certain amount
Yield
Forbearance
Maturity Date
Fixed-Rate Loan
43. The commercial activity of transporting and selling goods from a producer to a consumer
Par Value
Distribution
Saving
Loan
44. The money paid for employee services
Collectibles
Mutual Funds
On-Boarding
Salary
45. An accounting entry acknowledging income or capital items
Credit
Scarcity
Annual Report
Income
46. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.
Savings Account
Property Rights
Annual Report
Secured Debt
47. 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
Phishing
Cannibalizing assets
Income
Rent
48. 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
SEC Filings
Bankruptcy
Unsecured Debt
49. 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
Consequence
Balance Sheet
Consequence
50. A bank account that accumulates interest
Savings Account
Phishing
Profit
Wealth Management