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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. 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.
Financial Goals
Secured Debt
Incentives
Checkbook Register
2. 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.
W-4
1040 EZ tax form
Cash
Estate Planning
3. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Secured Loan
Indirect Car Loan
Foreclosure
Pension
4. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Financial Institution
On-Boarding
Asset Allocation
Risk
5. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Identity Theft
dividends
Total Assets
Property Rights
6. The period covered by a salary payment
Savings Account
Pay Period
Opportunity Cost
Unsecured Debt
7. The value of a security that is set by the company issuing it
Mortage
Mortage
Credit
Par Value
8. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received
Unsecured Loan
Reconcile
Net Income
Nonprofit Organization
9. 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
Self-Interest
Insurance
Cannibalizing assets
Foreclosure
10. 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.
Trade-off
Secured Debt
Consequence
Estate Planning
11. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Face Value
Retirement Planning
Transaction Fee
Maintain
12. 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.
W-4
Good Faith
Securities
Cannibalizing assets
13. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Risk
Unsecured Loan
Phishing
Interest Rate
14. A bank account that accumulates interest
Indirect Car Loan
Overdraft protection
Rent
Savings Account
15. The maximum credit that a customer is allowed
SEC Filings
Payday Loan
Line of Credit
Nonprofit Organization
16. 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
Consequence
Overdraft protection
Exemptions
Zero-Coupon Bond
17. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Phishing
Market Capitalization
Interest Rate
Stocks
18. A bank account that accumulates interest
Annual Fee
APR
Savings Account
Balance
19. Interest calculated on both the principal and the accrued interest
Transaction Fee
Transfer Payments
Compound Interest
Deductible
20. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount
Financial Needs
Deductible
Stocks
Expenses
21. Institution that functions much like a business - but does not operate for the purpose of generating profits
Total Debt
Nonprofit Organization
Allocation
Financial Institution
22. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
SEC Filings
Loan Shark
Beneficiary
Premium
23. Financial organization that pools people's money and invests it
Fixed-Rate Loan
Mutual Funds
Personal Allowances
Estate Planning
24. Profits paid to investors
Savings Account
dividends
Debit
Financial Needs
25. The money paid for employee services
Deductions
Salary
Stockholders' Equity
Maintain
26. A periodic statement prepared by a bank for each client
Transaction Fee
Shares Outstanding
Income
Bank Statement
27. Stock other than preferred stock
Self-Interest
Stockholders' Equity
Coupon Rate
Common Stock
28. The apparent worth as opposed to the real worth
Pay Period
Face Value
I-9
Exchange-Traded Funds
29. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Stockholders' Equity
Fixed-Rate Loan
Wealth Management
Financial Institution
30. A loan where the payment is acheived through interest
1040 tax form
Interest-Only Loan
Allocation
Retirement Planning
31. Compute credits and debits of an account
Balance
Compound Interest
Insolvent
Investing
32. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Values
Consequence
Balance Sheet
Transaction Fee
33. A share set aside for a specific purpose
Insurance
Allocation
Stock Symbol
Estate Planning
34. A person appointed by a testator to carry out the terms of the will
Executor
Lending Investments
Fixed-Rate Loan
Tax Liability
35. Savings account that pays market rate or better interest and allows access to funds without penalty.
Maintain
Nonprofit Organization
Issuer
Money Market Accounts
36. Arrangement for deferred payment for goods and services
Mutual Funds
Adjusted Gross Income
Billing Statement
Credit
37. Electronic Funds Transfer
Stockholders' Equity
Trade-off
EFT
Self-Interest
38. A debt not backed by specific property to satisfy the indebtedness in case of default.
Unsecured Debt
Wealth Management
Coupon Rate
Securities
39. Something that is made open or revealed
Deductions
Deductible
Disclosure
Exchange-Traded Funds
40. All costs or bills related to the business
W-4
Bankruptcy
EFT
Expenses
41. The money paid for employee services
Salary
Debit
Values
Index Fund
42. Arrangement for deferred payment for goods and services
Deduction
FICA
Common Stock
Credit
43. Income on which tax must be paid; total income minus exemptions and deductions
Taxable Income
Financial Goals
Will
Asset
44. The amount of money you would need to deposit now in order to attain a desired amount in the future
Forbearance
Present Value
Cannibalizing assets
Bankruptcy
45. Loan with equal number of payments of the same amount over a fixed period of time.
Direct Car Loan
Installment Loan
Stocks
Bank Statement
46. Financial reports that summarize the financial condition and operations of a business
Income
Shares Outstanding
Financial Statements
Total Assets
47. 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
Issuer
Net Worth
1040 EZ tax form
EDGAR
48. Certificates that represent money the government has borrowed from private citizens
Values
Usury
Bonds
Personal Budget
49. A loan backed by something valuable - such as property
Secured Loan
Foreclosure
Withdrawal
Financial Goals
50. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure
Total Debt
Pay Period
Collectibles
Will