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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. Production of a certain amount
Exemption
Probate
Yield
Mutual Funds
2. An accounting entry acknowledging income or capital items
Asset Allocation
Coupon Rate
Liability
Credit
3. Income on which tax must be paid; total income minus exemptions and deductions
Billing Statement
Taxable Income
Debt Consolidation
Lending Investments
4. The commercial activity of transporting and selling goods from a producer to a consumer
Distribution
Overdraft protection
Opportunity Cost
Shares Outstanding
5. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Deductible
Installment Loan
W-4
Net Worth
6. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Par Value
Lien
Yield
Probate
7. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Distribution
Deductions
Profit
Issuer
8. A business activity that changes assets - liabilities - or owner's equity
Cash
Balance Sheet
Transaction
Insolvent
9. 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
FICA
Direct Car Loan
Exemptions
Withdrawal
10. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Living Trust
Return
Payday Loan
Distribution
11. Items of personal interest to collectors that can increase in value in the future
Incentives
Interest
Collectibles
Resources
12. Someone who lends money at excessive rates of interest
Wealth Management
Ownership Investments
Line of Credit
Loan Shark
13. A long-term loan extended to someone who buys property
Exchange-Traded Funds
Distribution
Coupon Rate
Mortage
14. Income on which tax must be paid; total income minus exemptions and deductions
APR
Taxable Income
Balance Sheet
Savings Account
15. Anything that is used to produce goods or services
Exemptions
Withdrawal
Resources
Zero-Coupon Bond
16. Total assets minus total liabilities
Adjusted Gross Income
Beneficiary
Face Value
Net Worth
17. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure
Stock Symbol
Total Debt
dividends
Asset
18. A loan in which the rate can be altered to adjust to economical need
W-4
Adjustable-Rate Loan
Coupon Rate
Net Income
19. A share set aside for a specific purpose
Allocation
Living Trust
Late Fee
Bond Rating
20. A general and progressive increase in prices
Inflation
Transfer Payments
Withdrawal
Unsecured Debt
21. 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
Saving
EDGAR
Executor
Annual Report
22. The recipient of funds or other benefits
Transaction
Beneficiary
Cannibalizing assets
Adjusted Gross Income
23. An exchange that occurs as a compromise
Trade-off
W-4
Securities
Lending Investments
24. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Preferred Stock
Financial Institution
Securities
Good Faith
25. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Pay Period
Premium
Will
Billing Statement
26. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Nonprofit Organization
Deductions
APR
Asset
27. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Late Fee
Coverage
Total Assets
Annual Report
28. A record of checks written and deposits made in a checking account - kept by the depositor
Salary
Trade-off
Checkbook Register
Estate Planning
29. Stock other than preferred stock
Income Statement
Common Stock
EDGAR
Certificates of Deposit
30. Shares of ownership in a company
Income Statement
Rent
Distribution
Stocks
31. Preparing a plan for transferring property during one's lifetime and at one's death
Interest Rate
Tax Liability
Distribution
Estate Planning
32. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Liability
Compound Interest
Statement of Cash Flows
Exemption
33. The apparent worth as opposed to the real worth
Payday Loan
Foreclosure
Face Value
Interest Rate
34. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Insolvent
Foreclosure
APR
APR
35. Protection against future loss
Total Debt
Preferred Stock
Insurance
Preferred Stock
36. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Vesting
Shares Outstanding
Deductible
Liability
37. Loan where the lender goes through the borrower
Direct Car Loan
1040 EZ tax form
Self-Interest
Gross Income
38. An institution that issues something (securities or publications or currency etc.)
Issuer
Maintain
Return
Ownership Investments
39. 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
Bank Statement
Estate Planning
Cannibalizing assets
Good Faith
40. Diagnosis Codes (in CCB Popup if more then 5 codes)
Inflation
I-9
Transfer Payments
APR
41. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Distribution
Trade-off
Salary
Certificates of Deposit
42. An obligation to pay money to another party
Liability
Expenses
Credit
Exchange-Traded Funds
43. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Balance
Financial Institution
Unsecured Loan
Balance Sheet
44. 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
Tax Liability
EDGAR
Expenses
Maturity Date
45. Limited quantities of resources to meet unlimited wants
Credit
Debit
Bonds
Scarcity
46. An act of economizing
Asset
Risk
Saving
Pay Period
47. A long-term loan extended to someone who buys property
Mortage
Pension
1040 EZ tax form
Financial Statements
48. A regular payment to a person that iis intended to allow them to subsist without working
Bonds
Profit
Pension
Liability
49. A bank account that accumulates interest
Wage
Savings Account
Adjusted Gross Income
SEC Filings
50. An obligation to pay money to another party
Saving
Liability
Compound Interest
Disclosure