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Test your basic knowledge |
Wealth Management
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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 rights of an individual to own - use - rent - invest in - buy - and sell property.
Property Rights
Credit
Float
Predatory Lending
2. Financial organization that pools people's money and invests it
Financial Statements
Mutual Funds
Savings Account
Debit
3. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Exemption
Adjusted Gross Income
Risk
Bond Rating
4. The process of making a decision - usually complex
Bonds
Mutual Funds
Decison-making
Resources
5. The amount of money you would need to deposit now in order to attain a desired amount in the future
Stock Exchanges
Deductions
Present Value
Lending Investments
6. 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
Cannibalizing assets
Bankruptcy
Premium
Savings Register
7. Give back (tax return)
Deposit
Credit
Estate Planning
Return
8. Limited quantities of resources to meet unlimited wants
Time value of money
Executor
Scarcity
Transfer Payments
9. A bond with zero discounts
1040 EZ tax form
Lien
Exchange-Traded Funds
Zero-Coupon Bond
10. Financial organization that pools people's money and invests it
Mutual Funds
Savings Register
Net Worth
Stock Symbol
11. The commercial activity of transporting and selling goods from a producer to a consumer
Credit
Net Worth
Salary
Distribution
12. A business activity that changes assets - liabilities - or owner's equity
Bankruptcy
Deposit
Executor
Transaction
13. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received
Allocation
1040 EZ tax form
Net Income
Probate
14. A specific plan for spending your income
Yield
Financial Goals
Personal Budget
Opportunity Cost
15. Prompt payment for goods or services in currency or by check
dividends
Disclosure
Withdrawal
Cash
16. 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
Identity Theft
Reconcile
Property Rights
Face Value
17. Receiving money for loaning money
SEC Filings
Opportunity Cost
Wage
Lending Investments
18. Things that incite or spur to action; rewards or reasons for performing a task.
Withdrawal
Incentives
Total Debt
Coverage
19. Can be found in a newspaper and shows information about popular stocks.
Stock Table
I-9
Coupon Rate
Exemption
20. By planning ahead you can ensure financial stability during your retirement.
Deposit
Asset Allocation
Transaction
Retirement Planning
21. A financial statement that gives operating results for a specific period
Probate
Deductions
Beneficiary
Income Statement
22. Financial organization that pools people's money and invests it
Mutual Funds
Index Fund
Resources
Par Value
23. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Checkbook Register
Inflation
Cannibalizing assets
Bankruptcy
24. Loan deal in which the actual lender may not be known to the borrower.
Insolvent
Indirect Car Loan
Phishing
Lien
25. A loan backed by something valuable - such as property
Incentives
Secured Loan
dividends
Bank Statement
26. Income before taxes
Coupon Rate
Gross Income
Stock Table
Nonprofit Organization
27. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Certificates of Deposit
Vesting
Mortage
Trade-off
28. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Payday Loan
Total Assets
Securities
APR
29. The maximum credit that a customer is allowed
1040 EZ tax form
Line of Credit
FICA
Mutual Funds
30. Making money for owning something
FICA
Financial Needs
Ownership Investments
Coverage
31. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
401 K
Profit
Issuer
Disclosure
32. An accounting entry acknowledging sums that are owing
Unsecured Loan
Debit
Collectibles
W-4
33. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Probate
Usury
Exchange-Traded Funds
Vesting
34. Arrangement for deferred payment for goods and services
Debt Consolidation
Personal Budget
Credit
Preferred Stock
35. Institution that functions much like a business - but does not operate for the purpose of generating profits
Float
Nonprofit Organization
Identity Theft
dividends
36. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Asset Allocation
Stocks
Financial Institution
Coupon Rate
37. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Yield
Unsecured Loan
Exemptions
Balance Sheet
38. A legal document declaring a person's wishes regarding the disposal of their property when they die
Living Trust
Will
I-9
Coupon Rate
39. Loan deal in which the actual lender may not be known to the borrower.
Indirect Car Loan
Consequence
Exemption
Market Capitalization
40. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid
Pension
Certificates of Deposit
Maturity Date
Maturity Date
41. Payment for insurance
Transfer Payments
Deposit
Premium
Face Value
42. Payment for insurance
Loan
Premium
Scarcity
Net Worth
43. All costs or bills related to the business
Indirect Car Loan
Expenses
Installment Loan
EDGAR
44. Loan with equal number of payments of the same amount over a fixed period of time.
Personal Allowances
Property Rights
Installment Loan
Allocation
45. 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.
Liability
Stock Symbol
Investing
Disclosure
46. A loan in which the rate can be altered to adjust to economical need
Values
Nonprofit Organization
Adjustable-Rate Loan
EFT
47. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Deductions
Transfer Payments
Trade-off
Lien
48. Place to create a savings account.
Executor
Savings Register
Predatory Lending
Billing Statement
49. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Financial Statements
Stocks
Debt Consolidation
Savings Account
50. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Savings Register
Wealth Management
Balance Sheet
Probate
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