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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. Compute credits and debits of an account
Unsecured Debt
Securities
Scarcity
Balance
2. A loan that is paid off in a fixed rate over a period of time
Risk
Fixed-Rate Loan
Exemption
Premium
3. A record of checks written and deposits made in a checking account - kept by the depositor
1040 EZ tax form
Bond Rating
Checkbook Register
Disclosure
4. The time interval between the deposit of a check in a bank and its payment
Annual Report
Float
Loan Shark
Financial Needs
5. The act of lending money at an exorbitant rate of interest
Transaction Fee
Usury
EDGAR
Deposit
6. Income on which tax must be paid; total income minus exemptions and deductions
Deduction
Taxable Income
Expenses
Rent
7. The extent to which something is covered
Coupon Rate
Coverage
Salary
Indirect Car Loan
8. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Salary
Statement of Cash Flows
Scarcity
Preferred Stock
9. Anything that is used to produce goods or services
Credit
Financial Statements
Loan Shark
Resources
10. The process of making a decision - usually complex
Decison-making
Compound Interest
Annual Report
SEC Filings
11. Compute credits and debits of an account
Wage
Balance
Deposit
Issuer
12. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Living Trust
SEC Filings
Debt Consolidation
401 K
13. Total assets minus total liabilities
Interest-Only Loan
Net Worth
Adjusted Gross Income
Installment Loan
14. An exchange that occurs as a compromise
Float
Phishing
Certificates of Deposit
Trade-off
15. Certificates that represent money the government has borrowed from private citizens
Salary
dividends
Opportunity Cost
Bonds
16. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Nonprofit Organization
Property Rights
Indirect Car Loan
1040 EZ tax form
17. Anything that is used to produce goods or services
Secured Debt
Income Statement
Late Fee
Resources
18. A delay in enforcing rights or claims or privileges
Credit
Forbearance
Coverage
Phishing
19. Whatever must be given up to obtain some item
Cannibalizing assets
Stockholders' Equity
Opportunity Cost
Personal Budget
20. Certificates that represent money the government has borrowed from private citizens
Mutual Funds
Financial Needs
Financial Needs
Bonds
21. The money paid for employee services
Total Assets
Financial Needs
Salary
EDGAR
22. Making money for owning something
Ownership Investments
Common Stock
Face Value
Deposit
23. A loan backed by something valuable - such as property
Bank Statement
Late Fee
Retirement Planning
Secured Loan
24. A fixed charge for borrowing money
Securities
Insurance
Interest
Time value of money
25. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Payday Loan
Mutual Funds
Financial Statements
Saving
26. 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.
Transfer Payments
Rent
Payday Loan
Allocation
27. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Financial Institution
Opportunity Cost
Par Value
Gross Income
28. The outcome of an event especially as relative to an individual
Reconcile
Deposit
Lending Investments
Consequence
29. Interest calculated on both the principal and the accrued interest
Annual Report
Insurance
Compound Interest
Return
30. An obligation to pay money to another party
Disclosure
Liability
Gross Income
Overdraft protection
31. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure
Forbearance
Loan Shark
Line of Credit
Total Debt
32. 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
Incentives
Common Stock
Cannibalizing assets
Par Value
33. A payment given as a guarantee that an obligation will be met
Saving
Adjustable-Rate Loan
Checkbook Register
Deposit
34. Loan deal in which the actual lender may not be known to the borrower.
Certificates of Deposit
Interest Rate
Annual Report
Indirect Car Loan
35. The process of managing one's assets and wealth
Balance Sheet
Wealth Management
Forbearance
Credit
36. Arrangement for deferred payment for goods and services
Time value of money
Will
Credit
Scarcity
37. Limited quantities of resources to meet unlimited wants
dividends
Scarcity
Stockholders' Equity
Deductible
38. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Securities
Exemption
Decison-making
Values
39. 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
Par Value
Maturity Date
Exemptions
Index Fund
40. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Statement of Cash Flows
Financial Needs
Transfer Payments
Cannibalizing assets
41. A delay in enforcing rights or claims or privileges
Trade-off
Return
Forbearance
Stockholders' Equity
42. Prompt payment for goods or services in currency or by check
Ownership Investments
Compound Interest
Liability
Cash
43. Interest calculated on both the principal and the accrued interest
Bonds
Will
Annual Fee
Compound Interest
44. An act of economizing
Bonds
Saving
Liability
Secured Loan
45. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.
Tax Liability
Opportunity Cost
Interest Rate
Probate
46. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Statement of Cash Flows
Probate
Mutual Funds
Deduction
47. An act of economizing
Saving
Risk
Interest Rate
Checkbook Register
48. Loan where the lender goes through the borrower
Deduction
Issuer
Direct Car Loan
Bonds
49. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Expenses
Deductions
Rent
Debit
50. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Profit
401 K
Bankruptcy
Mortage