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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 right to take another's property if an obligation is not discharged
APR
Lien
Secured Debt
Common Stock
2. The rights of an individual to own - use - rent - invest in - buy - and sell property.
Loan Shark
Checkbook Register
Property Rights
Vesting
3. The act of lending money at an exorbitant rate of interest
Retirement Planning
Zero-Coupon Bond
Usury
Insolvent
4. The amount accruing to the corporations owners
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5. The time interval between the deposit of a check in a bank and its payment
Taxable Income
Transaction
Foreclosure
Float
6. 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
Transfer Payments
Collectibles
Mortage
Identity Theft
7. A debt not backed by specific property to satisfy the indebtedness in case of default.
Loan Shark
Income Statement
Unsecured Debt
Interest Rate
8. A record of checks written and deposits made in a checking account - kept by the depositor
Checkbook Register
Savings Account
Liability
Trade-off
9. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Debit
Insurance
Direct Car Loan
Preferred Stock
10. The act of lending money at an exorbitant rate of interest
Forbearance
Usury
Self-Interest
Mortage
11. An obligation to pay money to another party
Predatory Lending
Liability
Yield
1040 tax form
12. A debt; something disadvantageous
Compound Interest
Unsecured Debt
Liability
Credit
13. 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
Issuer
Cannibalizing assets
Stock Table
Deduction
14. An obligation to pay money to another party
EDGAR
Shares Outstanding
Executor
Liability
15. The value of a security that is set by the company issuing it
Index Fund
Usury
Ownership Investments
Par Value
16. Compute credits and debits of an account
Yield
Balance
Exemption
Probate
17. Making money for owning something
Ownership Investments
Par Value
Financial Institution
I-9
18. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Installment Loan
Financial Goals
Nonprofit Organization
Probate
19. Something that is made open or revealed
Disclosure
Credit
Time value of money
Shares Outstanding
20. 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
Nonprofit Organization
APR
Preferred Stock
EDGAR
21. Profits paid to investors
Savings Register
Retirement Planning
Net Worth
dividends
22. A person appointed by a testator to carry out the terms of the will
Executor
Reconcile
Foreclosure
Billing Statement
23. Give back (tax return)
Return
Pay Period
Retirement Planning
Late Fee
24. 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.
Balance
Income
Asset Allocation
W-4
25. Income on which tax must be paid; total income minus exemptions and deductions
1040 tax form
Unsecured Debt
Taxable Income
Opportunity Cost
26. The process of managing one's assets and wealth
Wealth Management
Retirement Planning
Foreclosure
Securities
27. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Unsecured Loan
Bankruptcy
Loan
Interest Rate
28. 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
Insolvent
Exemptions
Estate Planning
Beneficiary
29. The right to take another's property if an obligation is not discharged
Lien
Overdraft protection
Adjustable-Rate Loan
Incentives
30. The outcome of an event especially as relative to an individual
Wealth Management
Consequence
Total Debt
Insolvent
31. The act of reducing the selling price of merchandise
Identity Theft
Interest Rate
Deduction
Bond Rating
32. 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.
Scarcity
I-9
Predatory Lending
Scarcity
33. The money paid for employee services
Salary
Transaction Fee
Consequence
Statement of Cash Flows
34. The extent to which something is covered
Identity Theft
Coupon Rate
Cannibalizing assets
Coverage
35. The amount accruing to the corporations owners
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36. An institution that issues something (securities or publications or currency etc.)
Financial Statements
Index Fund
Issuer
Identity Theft
37. Financial organization that pools people's money and invests it
Deductible
Adjustable-Rate Loan
Mutual Funds
Consequence
38. Loan where the lender goes through the borrower
Total Debt
Direct Car Loan
Certificates of Deposit
Probate
39. An evaluation by a rating company of the probability that a particular bond issue will default
Will
Bond Rating
Property Rights
Incentives
40. The amount of money you would need to deposit now in order to attain a desired amount in the future
Incentives
Net Income
Present Value
Pay Period
41. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Wage
Payday Loan
EDGAR
Phishing
42. Total assets minus total liabilities
Net Worth
Common Stock
Ownership Investments
Secured Loan
43. 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.
Index Fund
Loan
Bonds
Bond Rating
44. Prompt payment for goods or services in currency or by check
Cash
Interest Rate
Forbearance
Deduction
45. A legal document declaring a person's wishes regarding the disposal of their property when they die
Interest Rate
Will
Retirement Planning
Maintain
46. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Exemption
Trade-off
Scarcity
Opportunity Cost
47. Someone who has insufficient assets to cover their debts
Annual Fee
Savings Account
Insolvent
Yield
48. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Total Assets
Late Fee
1040 tax form
APR
49. Business organizations that accommodate the buying and selling of securities.
Stock Exchanges
Common Stock
Loan Shark
Bankruptcy
50. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Living Trust
Bond Rating
Net Worth
Personal Allowances