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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 standard IRS form for individual tax returns.
1040 tax form
Adjustable-Rate Loan
Coverage
Premium
2. The maximum credit that a customer is allowed
Line of Credit
Rent
Good Faith
Par Value
3. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Checkbook Register
Foreclosure
Deduction
Asset Allocation
4. A penalty for making a payment after the due date
Disclosure
Late Fee
Personal Allowances
Allocation
5. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Foreclosure
Transaction Fee
Trade-off
Stockholders' Equity
6. Interest calculated on both the principal and the accrued interest
Financial Needs
Opportunity Cost
Compound Interest
Forbearance
7. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
EDGAR
Tax Liability
Total Assets
Will
8. The distribution of investment funds among broad classes of assets.
Total Assets
Market Capitalization
Asset Allocation
Estate Planning
9. Things that incite or spur to action; rewards or reasons for performing a task.
Incentives
Return
Decison-making
Vesting
10. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Cannibalizing assets
Loan Shark
Exemption
Stocks
11. Income on which tax must be paid; total income minus exemptions and deductions
Lien
Taxable Income
Annual Report
Unsecured Debt
12. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received
Line of Credit
Mortage
Liability
Net Income
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
EFT
Cannibalizing assets
Asset
Direct Car Loan
14. Making money for owning something
Deduction
Bankruptcy
Ownership Investments
Credit
15. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Pension
Preferred Stock
EDGAR
Predatory Lending
16. An obligation to pay money to another party
Liability
Compound Interest
Certificates of Deposit
Financial Goals
17. A business activity that changes assets - liabilities - or owner's equity
Transaction
Nonprofit Organization
Income Statement
Transfer Payments
18. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Face Value
Transaction
Interest Rate
SEC Filings
19. Give back (tax return)
Salary
Deductible
Financial Statements
Return
20. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Balance Sheet
401 K
Mutual Funds
I-9
21. 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.
Phishing
Interest
Loan
Interest
22. A legal document declaring a person's wishes regarding the disposal of their property when they die
Will
Preferred Stock
Stock Table
Lien
23. A general and progressive increase in prices
1040 EZ tax form
Mutual Funds
Transfer Payments
Inflation
24. Maintain by writing regular records
dividends
Maintain
Stock Exchanges
Transaction
25. Financial organization that pools people's money and invests it
Deposit
Unsecured Debt
Financial Needs
Mutual Funds
26. 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.
Investing
Maintain
Debt Consolidation
Tax Liability
27. Short-term and Long-term objectives that are driven by values.
Shares Outstanding
Secured Debt
Zero-Coupon Bond
Financial Goals
28. Protection against future loss
Savings Account
Insurance
Credit
Lien
29. A penalty for making a payment after the due date
Late Fee
Loan
Reconcile
Par Value
30. Prompt payment for goods or services in currency or by check
Cash
Estate Planning
Trade-off
EDGAR
31. Money paid to a worker
Loan Shark
Wage
Profit
Bond Rating
32. Place to create a savings account.
Savings Register
Payday Loan
Annual Fee
Salary
33. Diagnosis Codes (in CCB Popup if more then 5 codes)
Wage
I-9
Salary
Executor
34. 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.
Executor
Decison-making
Savings Account
W-4
35. Limited quantities of resources to meet unlimited wants
Maturity Date
Annual Report
Scarcity
1040 EZ tax form
36. Production of a certain amount
Securities
Yield
Compound Interest
Adjustable-Rate Loan
37. The percentage of a sum of money charged for its use
Disclosure
Interest Rate
1040 EZ tax form
Property Rights
38. A payment given as a guarantee that an obligation will be met
Present Value
Financial Statements
FICA
Deposit
39. Receiving money for loaning money
Shares Outstanding
Lending Investments
Bond Rating
Face Value
40. A yearly statement of the financial condition - progress - and expectations of an organization
Financial Statements
Annual Report
Net Worth
Incentives
41. The outcome of an event especially as relative to an individual
Allocation
Deposit
Overdraft protection
Consequence
42. Give back (tax return)
Interest Rate
Mortage
Return
Index Fund
43. A loan backed by something valuable - such as property
Foreclosure
Secured Loan
Liability
Good Faith
44. Items of personal interest to collectors that can increase in value in the future
Credit
1040 tax form
Collectibles
Profit
45. Making money for owning something
Ownership Investments
Direct Car Loan
Present Value
Forbearance
46. An exchange that occurs as a compromise
Bond Rating
Gross Income
Common Stock
Trade-off
47. The process of making a decision - usually complex
Decison-making
Interest Rate
Opportunity Cost
Coverage
48. Something that is made open or revealed
Indirect Car Loan
Risk
Disclosure
Unsecured Loan
49. Programs aimed at helping employees integrate - assimilate - and transition to new jobs
Wage
Taxable Income
On-Boarding
Total Debt
50. The maximum credit that a customer is allowed
Indirect Car Loan
Insurance
Taxable Income
Line of Credit