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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. A debt not backed by specific property to satisfy the indebtedness in case of default.
Lending Investments
Risk
Issuer
Unsecured Debt
2. A bank account that accumulates interest
Coverage
Savings Account
Cannibalizing assets
Probate
3. Is your gross income after certain reductions have been made
Adjusted Gross Income
Predatory Lending
Money Market Accounts
Coupon Rate
4. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Billing Statement
Values
Wealth Management
Preferred Stock
5. A loan in which the rate can be altered to adjust to economical need
Adjustable-Rate Loan
Checkbook Register
Pension
Consequence
6. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Opportunity Cost
Balance Sheet
Interest Rate
Savings Register
7. The act of taking out money or other capital
Stock Table
Forbearance
SEC Filings
Withdrawal
8. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.
Loan
Zero-Coupon Bond
Nonprofit Organization
Money Market Accounts
9. 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
1040 EZ tax form
Trade-off
Cannibalizing assets
Direct Car Loan
10. A record of checks written and deposits made in a checking account - kept by the depositor
Checkbook Register
Allocation
Present Value
Interest Rate
11. Interest calculated on both the principal and the accrued interest
Shares Outstanding
Compound Interest
Opportunity Cost
Distribution
12. A long-term loan extended to someone who buys property
Nonprofit Organization
Mortage
Identity Theft
Yield
13. Something that is made open or revealed
I-9
Disclosure
Good Faith
Allocation
14. Preparing a plan for transferring property during one's lifetime and at one's death
Estate Planning
Fixed-Rate Loan
Wage
Deductions
15. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Tax Liability
Probate
Compound Interest
On-Boarding
16. Making money for owning something
Secured Loan
1040 tax form
Maturity Date
Ownership Investments
17. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.
W-4
Loan
Credit
Par Value
18. An accounting entry acknowledging income or capital items
Annual Report
Credit
Scarcity
Decison-making
19. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
SEC Filings
Self-Interest
Fixed-Rate Loan
Reconcile
20. Loan deal in which the actual lender may not be known to the borrower.
Income
Will
Indirect Car Loan
Salary
21. The process of making a decision - usually complex
Index Fund
Interest
Phishing
Decison-making
22. 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
Deductions
Secured Debt
Gross Income
APR
23. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Common Stock
Unsecured Loan
Total Assets
APR
24. The act of taking out money or other capital
dividends
Withdrawal
Mutual Funds
Financial Goals
25. The commercial activity of transporting and selling goods from a producer to a consumer
Exemption
Gross Income
Distribution
Insurance
26. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
SEC Filings
Lending Investments
Scarcity
Bank Statement
27. Arrangement for deferred payment for goods and services
Net Income
SEC Filings
Face Value
Credit
28. The process of managing one's assets and wealth
Securities
Premium
Wealth Management
Interest-Only Loan
29. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Living Trust
Reconcile
Time value of money
Expenses
30. The act of reducing the selling price of merchandise
Profit
W-4
Deduction
Securities
31. Shares of ownership in a company
Opportunity Cost
Opportunity Cost
Stocks
Mutual Funds
32. Having honest intentions
Allocation
Tax Liability
Good Faith
Transfer Payments
33. Income before taxes
Gross Income
Liability
Asset Allocation
Financial Needs
34. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Retirement Planning
Payday Loan
Total Assets
Bankruptcy
35. A fixed charge for borrowing money
Debit
Personal Budget
Usury
Interest
36. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Compound Interest
Foreclosure
Usury
Asset Allocation
37. 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
Deposit
EDGAR
Deductions
Unsecured Debt
38. Profits paid to investors
dividends
Float
Property Rights
Return
39. A delay in enforcing rights or claims or privileges
Forbearance
Will
Wage
Probate
40. The amount of tax owed
Bond Rating
Liability
Tax Liability
Line of Credit
41. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Deductions
SEC Filings
Transfer Payments
Mortage
42. 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
Self-Interest
Asset Allocation
FICA
Debt Consolidation
43. The amount of money you would need to deposit now in order to attain a desired amount in the future
Indirect Car Loan
Present Value
Issuer
Withdrawal
44. Things that incite or spur to action; rewards or reasons for performing a task.
Preferred Stock
Incentives
Secured Loan
EFT
45. The act of lending money at an exorbitant rate of interest
Saving
Usury
Annual Fee
Present Value
46. 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.
Investing
Direct Car Loan
Interest-Only Loan
Trade-off
47. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Balance Sheet
Balance
Fixed-Rate Loan
Values
48. Prompt payment for goods or services in currency or by check
Money Market Accounts
Savings Register
Self-Interest
Cash
49. An accounting entry acknowledging sums that are owing
Foreclosure
Debit
Estate Planning
Total Assets
50. 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.
Financial Needs
Transfer Payments
Bank Statement
Savings Account