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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. Financial organization that pools people's money and invests it
Billing Statement
Distribution
1040 tax form
Mutual Funds
2. 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
Insolvent
Certificates of Deposit
Cannibalizing assets
Inflation
3. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
W-4
Income Statement
Payday Loan
Stock Symbol
4. Income before taxes
Gross Income
Disclosure
Secured Debt
Secured Loan
5. The act of lending money at an exorbitant rate of interest
Usury
Indirect Car Loan
Deduction
Net Income
6. 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.
Loan Shark
Decison-making
Loan
Resources
7. Funds that are often times traded through a stock exchange (NYSE)
Net Worth
Probate
Exchange-Traded Funds
Unsecured Debt
8. The right to take another's property if an obligation is not discharged
Market Capitalization
Lien
Exemption
APR
9. The extent to which something is covered
Premium
Adjustable-Rate Loan
Coverage
Resources
10. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Line of Credit
Installment Loan
Total Assets
Vesting
11. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Savings Account
Fixed-Rate Loan
Total Assets
Maintain
12. Having honest intentions
Collectibles
Good Faith
Total Assets
Debit
13. Whatever must be given up to obtain some item
Loan
Estate Planning
Asset
Opportunity Cost
14. A yearly statement of the financial condition - progress - and expectations of an organization
Annual Report
Deduction
Mutual Funds
Exemption
15. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Allocation
Bond Rating
Values
Line of Credit
16. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Probate
Shares Outstanding
Stock Table
Direct Car Loan
17. An institution that issues something (securities or publications or currency etc.)
Consequence
Annual Report
Issuer
Living Trust
18. An accounting entry acknowledging sums that are owing
Debit
Checkbook Register
Mortage
Line of Credit
19. A delay in enforcing rights or claims or privileges
Saving
Living Trust
Forbearance
Investing
20. Making money for owning something
Gross Income
Stockholders' Equity
Ownership Investments
401 K
21. The act of taking out money or other capital
Bank Statement
Forbearance
Withdrawal
Executor
22. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.
Predatory Lending
Statement of Cash Flows
Interest Rate
Tax Liability
23. Something that is made open or revealed
Usury
FICA
Income Statement
Disclosure
24. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Stock Table
Yield
Time value of money
Living Trust
25. A person appointed by a testator to carry out the terms of the will
Executor
Bank Statement
Probate
Indirect Car Loan
26. A debt; something disadvantageous
Incentives
Liability
Mutual Funds
Total Assets
27. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Investing
Bonds
Interest Rate
Balance Sheet
28. Loan deal in which the actual lender may not be known to the borrower.
Fixed-Rate Loan
Will
Indirect Car Loan
Trade-off
29. Savings account that pays market rate or better interest and allows access to funds without penalty.
Transaction
Phishing
Money Market Accounts
Property Rights
30. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.
Nonprofit Organization
SEC Filings
Withdrawal
Money Market Accounts
31. Money paid to a worker
Wage
1040 tax form
On-Boarding
Estate Planning
32. Total assets minus total liabilities
Net Worth
Installment Loan
Stock Table
Personal Budget
33. A regular payment to a person that iis intended to allow them to subsist without working
Pension
Balance
Late Fee
Common Stock
34. A periodic statement prepared by a bank for each client
Credit
Line of Credit
Bank Statement
Deductible
35. Is your gross income after certain reductions have been made
Wealth Management
Deductions
Living Trust
Adjusted Gross Income
36. Making money for owning something
Scarcity
Allocation
Balance Sheet
Ownership Investments
37. The financial gain (earned or unearned) accruing over a given period of time
Taxable Income
Income
Deductible
Insurance
38. Institution that functions much like a business - but does not operate for the purpose of generating profits
Estate Planning
SEC Filings
Nonprofit Organization
Values
39. Savings account that pays market rate or better interest and allows access to funds without penalty.
Money Market Accounts
Gross Income
Maturity Date
Financial Institution
40. The amount accruing to the corporations owners
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41. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Payday Loan
Probate
Values
Mortage
42. A penalty for making a payment after the due date
Risk
1040 tax form
Savings Account
Late Fee
43. A penalty for making a payment after the due date
Net Worth
Late Fee
Cash
Mortage
44. An obligation to pay money to another party
Liability
Time value of money
Self-Interest
Rent
45. Profits paid to investors
dividends
Certificates of Deposit
Face Value
Maturity Date
46. The maximum credit that a customer is allowed
Line of Credit
Phishing
Transfer Payments
Return
47. Give back (tax return)
Interest
Return
Total Assets
Maintain
48. Institution that functions much like a business - but does not operate for the purpose of generating profits
Fixed-Rate Loan
Securities
Nonprofit Organization
Lien
49. A debt not backed by specific property to satisfy the indebtedness in case of default.
Values
Statement of Cash Flows
Secured Loan
Unsecured Debt
50. An act of economizing
Face Value
Fixed-Rate Loan
Decison-making
Saving