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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 amount of money you would need to deposit now in order to attain a desired amount in the future
Bank Statement
Present Value
Annual Fee
Interest Rate
2. Electronic Funds Transfer
Deductible
Present Value
Fixed-Rate Loan
EFT
3. Whatever must be given up to obtain some item
Certificates of Deposit
Opportunity Cost
Vesting
Present Value
4. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.
Bonds
W-4
Wealth Management
Resources
5. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Total Assets
Usury
Vesting
FICA
6. An obligation to pay money to another party
Liability
Stocks
Pension
Deposit
7. The distribution of investment funds among broad classes of assets.
EDGAR
Fixed-Rate Loan
Asset Allocation
APR
8. The outcome of an event especially as relative to an individual
Vesting
I-9
Consequence
Scarcity
9. A business activity that changes assets - liabilities - or owner's equity
Liability
Mutual Funds
Transaction
Total Debt
10. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Statement of Cash Flows
Retirement Planning
Trade-off
Time value of money
11. Interest calculated on both the principal and the accrued interest
Exchange-Traded Funds
Salary
Liability
Compound Interest
12. Institution that functions much like a business - but does not operate for the purpose of generating profits
Adjusted Gross Income
Usury
Transaction Fee
Nonprofit Organization
13. Items of personal interest to collectors that can increase in value in the future
Coupon Rate
Debit
Collectibles
Annual Fee
14. Certificates that represent money the government has borrowed from private citizens
Predatory Lending
Secured Loan
Bank Statement
Bonds
15. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Time value of money
Collectibles
Index Fund
Overdraft protection
16. Loan with equal number of payments of the same amount over a fixed period of time.
Income Statement
Installment Loan
dividends
Billing Statement
17. The amount of tax owed
Interest-Only Loan
Tax Liability
Lending Investments
Usury
18. The maximum credit that a customer is allowed
Net Worth
Line of Credit
Cannibalizing assets
FICA
19. 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.
Collectibles
Predatory Lending
Interest Rate
Bonds
20. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Phishing
Unsecured Loan
Deduction
Transaction Fee
21. 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
Payday Loan
Opportunity Cost
Insurance
22. An act of economizing
Financial Goals
Salary
Debit
Saving
23. Something that is made open or revealed
Bond Rating
Disclosure
Net Income
Installment Loan
24. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Vesting
Direct Car Loan
Yield
Adjusted Gross Income
25. The act of lending money at an exorbitant rate of interest
Lien
Usury
Personal Budget
Payday Loan
26. An exchange that occurs as a compromise
Stock Table
Transaction Fee
Fixed-Rate Loan
Trade-off
27. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Securities
Vesting
Cannibalizing assets
Direct Car Loan
28. The interest rate that a bond issuer will pay to a bondholder
EDGAR
Coupon Rate
Annual Fee
Will
29. Whatever must be given up to obtain some item
Opportunity Cost
Checkbook Register
Collectibles
Saving
30. The act of taking out money or other capital
EFT
Exchange-Traded Funds
Float
Withdrawal
31. A loan in which the rate can be altered to adjust to economical need
Premium
Adjustable-Rate Loan
Decison-making
Statement of Cash Flows
32. The period covered by a salary payment
Property Rights
Pay Period
Return
Debit
33. Things that incite or spur to action; rewards or reasons for performing a task.
Identity Theft
Incentives
Liability
Yield
34. The extent to which something is covered
Coverage
Bond Rating
Self-Interest
Market Capitalization
35. 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
Exemption
Executor
Forbearance
APR
36. The act of reducing the selling price of merchandise
Transfer Payments
Deduction
Salary
Late Fee
37. Financial organization that pools people's money and invests it
Estate Planning
Annual Report
Mutual Funds
Liability
38. A loan backed by something valuable - such as property
Yield
Adjustable-Rate Loan
Maturity Date
Secured Loan
39. A payment given as a guarantee that an obligation will be met
Deposit
Salary
EDGAR
Exemptions
40. The value of a security that is set by the company issuing it
FICA
Ownership Investments
Lien
Par Value
41. Bring into consonance or accord - to agree on terms
Income Statement
Nonprofit Organization
Reconcile
Insolvent
42. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Mutual Funds
Balance
1040 EZ tax form
1040 tax form
43. The process of making a decision - usually complex
Decison-making
Interest Rate
Secured Loan
Deduction
44. The money(usually a set amount) given to an individual to spend
Good Faith
Personal Allowances
Retirement Planning
Decison-making
45. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Cash
Personal Budget
Bankruptcy
Retirement Planning
46. 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
Usury
FICA
Consequence
Net Worth
47. An accounting entry acknowledging sums that are owing
Present Value
Float
Debit
Profit
48. Business organizations that accommodate the buying and selling of securities.
Stock Exchanges
Reconcile
Personal Budget
Asset
49. A debt; something disadvantageous
Premium
Lien
Market Capitalization
Liability
50. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Coupon Rate
Living Trust
Shares Outstanding
Profit