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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. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Deductions
FICA
Asset Allocation
Financial Institution
2. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Face Value
Indirect Car Loan
401 K
Coverage
3. All costs or bills related to the business
Secured Debt
Coupon Rate
SEC Filings
Expenses
4. The money(usually a set amount) given to an individual to spend
Deductible
Bond Rating
Compound Interest
Personal Allowances
5. An exchange that occurs as a compromise
Trade-off
Profit
Beneficiary
Liability
6. Limited quantities of resources to meet unlimited wants
Retirement Planning
Balance Sheet
Scarcity
Personal Budget
7. An automatic loan made to you if you write a check for more money than you have in your account
Transaction Fee
Overdraft protection
Exchange-Traded Funds
Face Value
8. A legal document declaring a person's wishes regarding the disposal of their property when they die
Consequence
Foreclosure
Will
Credit
9. Financial organization that pools people's money and invests it
Par Value
Transfer Payments
Executor
Mutual Funds
10. The commercial activity of transporting and selling goods from a producer to a consumer
Wage
Distribution
Secured Loan
Saving
11. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Reconcile
Wealth Management
Statement of Cash Flows
Incentives
12. The financial gain (earned or unearned) accruing over a given period of time
Wealth Management
Interest Rate
Income
Securities
13. Stock other than preferred stock
Common Stock
Collectibles
Total Assets
I-9
14. Business organizations that accommodate the buying and selling of securities.
Secured Debt
Stock Exchanges
EFT
Preferred Stock
15. The economical needs of an individual
Certificates of Deposit
Financial Needs
Secured Debt
Exchange-Traded Funds
16. A loan backed by something valuable - such as property
Gross Income
Stocks
Financial Institution
Secured Loan
17. Having honest intentions
Float
Secured Loan
Credit
Good Faith
18. The distribution of investment funds among broad classes of assets.
Ownership Investments
Asset Allocation
Withdrawal
Rent
19. Profits paid to investors
Allocation
dividends
On-Boarding
Retirement Planning
20. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.
Adjustable-Rate Loan
Investing
Living Trust
Inflation
21. Can be found in a newspaper and shows information about popular stocks.
Present Value
Exchange-Traded Funds
Stock Table
Expenses
22. Compute credits and debits of an account
Balance
Cannibalizing assets
On-Boarding
SEC Filings
23. Certificates that represent money the government has borrowed from private citizens
Shares Outstanding
Bonds
EDGAR
Bank Statement
24. The act of lending money at an exorbitant rate of interest
Securities
Gross Income
Line of Credit
Usury
25. The amount of money you would need to deposit now in order to attain a desired amount in the future
Preferred Stock
Deductible
Present Value
Pension
26. Making money for owning something
Payday Loan
EFT
Distribution
Ownership Investments
27. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Stockholders' Equity
Resources
Pension
Payday Loan
28. Payment for insurance
Exemption
Trade-off
Adjustable-Rate Loan
Premium
29. The process of making a decision - usually complex
Decison-making
401 K
Cannibalizing assets
Insurance
30. Making money for owning something
Premium
Gross Income
Ownership Investments
Secured Loan
31. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Distribution
Interest-Only Loan
Total Assets
Transaction Fee
32. A financial statement that gives operating results for a specific period
Securities
Unsecured Loan
Will
Income Statement
33. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Scarcity
Debt Consolidation
Billing Statement
Risk
34. A periodic statement prepared by a bank for each client
Late Fee
Bank Statement
Stockholders' Equity
Transaction Fee
35. A periodic statement prepared by a bank for each client
Financial Needs
Bank Statement
Maintain
Face Value
36. The act of taking out money or other capital
Transaction Fee
Withdrawal
Mutual Funds
Profit
37. Give back (tax return)
Interest Rate
Deductions
Personal Allowances
Return
38. 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
1040 tax form
SEC Filings
Resources
Identity Theft
39. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Stocks
Annual Report
Interest Rate
Certificates of Deposit
40. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Phishing
Exchange-Traded Funds
Insurance
Balance Sheet
41. Grant use or occupation of under a term of contract
Balance
Bond Rating
Stock Exchanges
Rent
42. The process of managing one's assets and wealth
Stock Table
Wealth Management
Liability
Inflation
43. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Disclosure
Cash
Bankruptcy
Present Value
44. 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.
EDGAR
Secured Debt
Bonds
Opportunity Cost
45. 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
Yield
Insurance
FICA
Coupon Rate
46. Business organizations that accommodate the buying and selling of securities.
EDGAR
Float
Stock Exchanges
Asset
47. 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.
Total Assets
Liability
W-4
EFT
48. Loan deal in which the actual lender may not be known to the borrower.
Exchange-Traded Funds
Deposit
Indirect Car Loan
Ownership Investments
49. 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.
On-Boarding
Pension
Stock Symbol
Transfer Payments
50. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Interest Rate
Issuer
Debit
Balance Sheet