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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 document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
SEC Filings
Payday Loan
Statement of Cash Flows
Financial Statements
2. An act of economizing
Transaction Fee
Annual Report
Saving
Stock Table
3. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Liability
Secured Loan
Scarcity
Financial Institution
4. Preparing a plan for transferring property during one's lifetime and at one's death
Adjustable-Rate Loan
Annual Report
Stockholders' Equity
Estate Planning
5. Things that incite or spur to action; rewards or reasons for performing a task.
Billing Statement
Float
Incentives
Interest Rate
6. The amount of tax owed
Statement of Cash Flows
Coverage
Time value of money
Tax Liability
7. Place to create a savings account.
Will
Premium
Credit
Savings Register
8. 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.
Vesting
Deductible
Secured Debt
Cannibalizing assets
9. Limited quantities of resources to meet unlimited wants
Asset Allocation
Scarcity
Fixed-Rate Loan
Time value of money
10. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Probate
Trade-off
Zero-Coupon Bond
Line of Credit
11. 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.
Installment Loan
Return
Overdraft protection
Transfer Payments
12. A loan in which the rate can be altered to adjust to economical need
Adjustable-Rate Loan
Self-Interest
APR
Scarcity
13. Compute credits and debits of an account
Wage
Allocation
Balance
1040 EZ tax form
14. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index
Will
Index Fund
Total Debt
Taxable Income
15. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Debt Consolidation
Adjusted Gross Income
Foreclosure
Interest
16. Income before taxes
Gross Income
Maturity Date
W-4
Incentives
17. 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.
Probate
Identity Theft
W-4
Stock Symbol
18. The financial gain (earned or unearned) accruing over a given period of time
Financial Goals
Income
Pension
Yield
19. A regular payment to a person that iis intended to allow them to subsist without working
Pension
Collectibles
Estate Planning
Expenses
20. The shares available to sell/buy
Shares Outstanding
Checkbook Register
Late Fee
Face Value
21. Maintain by writing regular records
Maintain
Cash
Profit
Opportunity Cost
22. A loan where the payment is acheived through interest
Mortage
Interest-Only Loan
Living Trust
Pay Period
23. 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
dividends
APR
Interest Rate
Maturity Date
24. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Certificates of Deposit
Transaction Fee
W-4
Debt Consolidation
25. Can be found in a newspaper and shows information about popular stocks.
Index Fund
Stock Table
Wealth Management
Bonds
26. Financial reports that summarize the financial condition and operations of a business
Interest
Good Faith
Trade-off
Financial Statements
27. An institution that issues something (securities or publications or currency etc.)
FICA
Interest-Only Loan
1040 tax form
Issuer
28. Limited quantities of resources to meet unlimited wants
Adjustable-Rate Loan
Index Fund
Scarcity
Asset
29. Someone who has insufficient assets to cover their debts
Insolvent
Probate
Ownership Investments
Bond Rating
30. Is your gross income after certain reductions have been made
Late Fee
Adjusted Gross Income
On-Boarding
Deduction
31. An automatic loan made to you if you write a check for more money than you have in your account
Overdraft protection
On-Boarding
FICA
Credit
32. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Interest Rate
Deposit
Deductions
Identity Theft
33. The rights of an individual to own - use - rent - invest in - buy - and sell property.
Forbearance
Property Rights
Income
Stocks
34. Interest calculated on both the principal and the accrued interest
Par Value
Shares Outstanding
Compound Interest
Cannibalizing assets
35. 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.
Foreclosure
Balance
Cannibalizing assets
Loan
36. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Savings Account
Profit
EDGAR
Scarcity
37. The recipient of funds or other benefits
Bonds
Decison-making
Beneficiary
Face Value
38. Stock other than preferred stock
Common Stock
Balance
Reconcile
Time value of money
39. A fixed charge for borrowing money
Bank Statement
Interest
Nonprofit Organization
Incentives
40. Financial organization that pools people's money and invests it
Mutual Funds
Loan Shark
Unsecured Loan
Payday Loan
41. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share
Market Capitalization
Deduction
Bank Statement
Executor
42. An exchange that occurs as a compromise
Withdrawal
Asset
APR
Trade-off
43. Whatever must be given up to obtain some item
Opportunity Cost
Interest
Financial Goals
Trade-off
44. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Ownership Investments
Asset Allocation
Investing
Vesting
45. An automatic loan made to you if you write a check for more money than you have in your account
Overdraft protection
Phishing
Time value of money
Inflation
46. Give back (tax return)
Time value of money
Preferred Stock
Return
Maturity Date
47. A penalty for making a payment after the due date
Inflation
Rent
Statement of Cash Flows
Late Fee
48. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.
Predatory Lending
Transaction
Preferred Stock
Market Capitalization
49. 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
Exemptions
Issuer
Asset Allocation
50. The act of reducing the selling price of merchandise
Distribution
Time value of money
Deduction
Foreclosure