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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. Bring into consonance or accord - to agree on terms
Reconcile
Issuer
Face Value
Asset Allocation
2. 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
Payday Loan
APR
Balance Sheet
Scarcity
3. An act of economizing
Maturity Date
Interest-Only Loan
Saving
Insolvent
4. Income before taxes
Gross Income
Wealth Management
Insurance
I-9
5. The process of making a decision - usually complex
Financial Institution
Decison-making
Face Value
Return
6. 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.
Will
Yield
Cannibalizing assets
Transfer Payments
7. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Savings Register
Trade-off
Foreclosure
On-Boarding
8. Place to create a savings account.
Savings Register
Will
Scarcity
Probate
9. Funds that are often times traded through a stock exchange (NYSE)
Bank Statement
I-9
Phishing
Exchange-Traded Funds
10. A specific plan for spending your income
Personal Budget
Vesting
Net Worth
Ownership Investments
11. Income before taxes
Pay Period
Saving
Gross Income
Annual Report
12. The money paid for employee services
Pension
Pay Period
Transaction
Salary
13. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Balance
Bank Statement
Balance Sheet
Probate
14. The commercial activity of transporting and selling goods from a producer to a consumer
Tax Liability
Distribution
Adjustable-Rate Loan
Compound Interest
15. Savings account that pays market rate or better interest and allows access to funds without penalty.
Gross Income
Total Debt
Unsecured Debt
Money Market Accounts
16. Limited quantities of resources to meet unlimited wants
Direct Car Loan
1040 EZ tax form
Scarcity
Values
17. Anything that is used to produce goods or services
Resources
Inflation
Checkbook Register
Stocks
18. Things that incite or spur to action; rewards or reasons for performing a task.
dividends
Asset
Phishing
Incentives
19. The standard IRS form for individual tax returns.
Allocation
1040 tax form
Gross Income
Profit
20. A bank account that accumulates interest
Savings Account
Living Trust
Debit
Estate Planning
21. A record of checks written and deposits made in a checking account - kept by the depositor
Reconcile
Checkbook Register
Estate Planning
Transfer Payments
22. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Incentives
Certificates of Deposit
Unsecured Debt
Probate
23. A debt not backed by specific property to satisfy the indebtedness in case of default.
Loan
Issuer
Unsecured Debt
Lien
24. A person appointed by a testator to carry out the terms of the will
Executor
EFT
Distribution
Asset Allocation
25. An exchange that occurs as a compromise
Values
Insurance
Trade-off
Debt Consolidation
26. An accounting entry acknowledging income or capital items
Par Value
Common Stock
Credit
Trade-off
27. Simplified IRS tax form which some individuals can file instead of the 1040 form.
1040 EZ tax form
Yield
Transaction Fee
Adjusted Gross Income
28. Making money for owning something
Stockholders' Equity
Bond Rating
Income Statement
Ownership Investments
29. A financial statement that gives operating results for a specific period
Income Statement
Installment Loan
Asset
Personal Budget
30. Is your gross income after certain reductions have been made
Adjusted Gross Income
Deductible
Coverage
Incentives
31. Having honest intentions
Gross Income
Stock Symbol
Good Faith
Living Trust
32. A loan in which the rate can be altered to adjust to economical need
Direct Car Loan
Adjustable-Rate Loan
Bonds
Unsecured Debt
33. Concern for ones own well being and advantages
Resources
Self-Interest
Pay Period
Good Faith
34. Payment for insurance
Exemptions
Premium
Financial Institution
1040 EZ tax form
35. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Deduction
Pension
Income
Deductions
36. By planning ahead you can ensure financial stability during your retirement.
Preferred Stock
Deposit
Usury
Retirement Planning
37. A yearly statement of the financial condition - progress - and expectations of an organization
Exchange-Traded Funds
Annual Report
Nonprofit Organization
Insolvent
38. Electronic Funds Transfer
Exchange-Traded Funds
Certificates of Deposit
EFT
Lien
39. 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.
EFT
Debt Consolidation
Predatory Lending
Bankruptcy
40. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Stockholders' Equity
Financial Needs
Exemption
Good Faith
41. The percentage of a sum of money charged for its use
Interest Rate
Maintain
Trade-off
Collectibles
42. The right to take another's property if an obligation is not discharged
Indirect Car Loan
Lien
Disclosure
Foreclosure
43. Arrangement for deferred payment for goods and services
Exemption
Zero-Coupon Bond
1040 tax form
Credit
44. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Financial Needs
Float
EDGAR
Debt Consolidation
45. By planning ahead you can ensure financial stability during your retirement.
Interest-Only Loan
Exemptions
Retirement Planning
Annual Fee
46. Certificates that represent money the government has borrowed from private citizens
Index Fund
Bankruptcy
Bonds
Values
47. 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
Taxable Income
Resources
Identity Theft
Bond Rating
48. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.
Liability
Securities
Deductions
Personal Budget
49. Someone who has insufficient assets to cover their debts
Insolvent
Face Value
Distribution
Savings Account
50. Something of value; a resource; an advantage
Nonprofit Organization
Phishing
Asset
1040 tax form
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