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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. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Unsecured Loan
Cash
Savings Register
Executor
2. The right to take another's property if an obligation is not discharged
Exemption
Zero-Coupon Bond
Beneficiary
Lien
3. 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.
EFT
Transfer Payments
Income
Taxable Income
4. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Total Assets
Adjusted Gross Income
Unsecured Debt
Statement of Cash Flows
5. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Time value of money
Opportunity Cost
Payday Loan
dividends
6. Whatever must be given up to obtain some item
Asset
Opportunity Cost
Interest
Phishing
7. 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
Opportunity Cost
Financial Statements
Bonds
8. All costs or bills related to the business
Zero-Coupon Bond
Mortage
Expenses
Executor
9. 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.
Cash
W-4
Fixed-Rate Loan
Values
10. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index
Common Stock
Coupon Rate
Index Fund
Installment Loan
11. 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
1040 tax form
Trade-off
Identity Theft
Float
12. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Deductions
Net Worth
W-4
Credit
13. 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
Financial Statements
Financial Goals
Good Faith
14. 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
Incentives
Retirement Planning
Nonprofit Organization
Exemptions
15. Financial organization that pools people's money and invests it
Mutual Funds
Checkbook Register
Cash
Payday Loan
16. Financial organization that pools people's money and invests it
Mutual Funds
Collectibles
Good Faith
On-Boarding
17. The right to take another's property if an obligation is not discharged
Lien
Yield
Interest
Stock Symbol
18. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Loan Shark
Net Worth
Deduction
Profit
19. Having honest intentions
Financial Statements
Good Faith
Total Assets
Adjustable-Rate Loan
20. Income on which tax must be paid; total income minus exemptions and deductions
Indirect Car Loan
Taxable Income
Financial Goals
Credit
21. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Savings Register
Yield
Certificates of Deposit
Phishing
22. A share set aside for a specific purpose
dividends
Allocation
Inflation
Coupon Rate
23. By planning ahead you can ensure financial stability during your retirement.
Retirement Planning
Mortage
Unsecured Debt
Usury
24. The extent to which something is covered
Checkbook Register
Coverage
Asset Allocation
Bank Statement
25. A periodic statement prepared by a bank for each client
Maturity Date
Bank Statement
Time value of money
Reconcile
26. An evaluation by a rating company of the probability that a particular bond issue will default
Living Trust
Stock Exchanges
Cannibalizing assets
Bond Rating
27. Institution that functions much like a business - but does not operate for the purpose of generating profits
Allocation
Annual Report
Nonprofit Organization
Interest Rate
28. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Exemptions
Preferred Stock
Time value of money
W-4
29. 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.
Adjusted Gross Income
Overdraft protection
Cannibalizing assets
Loan
30. Limited quantities of resources to meet unlimited wants
Vesting
Billing Statement
Scarcity
APR
31. Something that is made open or revealed
Billing Statement
Disclosure
Investing
Exemption
32. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Unsecured Loan
Exchange-Traded Funds
Gross Income
Vesting
33. A debt not backed by specific property to satisfy the indebtedness in case of default.
Unsecured Debt
Checkbook Register
FICA
Lien
34. Making money for owning something
1040 tax form
Wage
Total Assets
Ownership Investments
35. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Par Value
Incentives
Total Assets
Nonprofit Organization
36. The commercial activity of transporting and selling goods from a producer to a consumer
Distribution
Vesting
Bond Rating
Risk
37. Loan where the lender goes through the borrower
Personal Allowances
Self-Interest
Direct Car Loan
Indirect Car Loan
38. Production of a certain amount
Insolvent
Par Value
Yield
Certificates of Deposit
39. The percentage of a sum of money charged for its use
SEC Filings
Investing
Financial Institution
Interest Rate
40. Arrangement for deferred payment for goods and services
Credit
Return
EDGAR
Interest
41. The financial gain (earned or unearned) accruing over a given period of time
Values
Allocation
Annual Report
Income
42. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Profit
Annual Fee
Secured Debt
Reconcile
43. Electronic Funds Transfer
EFT
Insurance
Unsecured Loan
Phishing
44. The act of lending money at an exorbitant rate of interest
Usury
Beneficiary
Shares Outstanding
Taxable Income
45. Loan with equal number of payments of the same amount over a fixed period of time.
Values
Secured Debt
Installment Loan
Reconcile
46. The recipient of funds or other benefits
Certificates of Deposit
Certificates of Deposit
EDGAR
Beneficiary
47. Something of value; a resource; an advantage
Interest
Unsecured Debt
Present Value
Asset
48. A regular payment to a person that iis intended to allow them to subsist without working
Savings Register
Statement of Cash Flows
Total Assets
Pension
49. The interest rate that a bond issuer will pay to a bondholder
Securities
Issuer
Coupon Rate
Interest Rate
50. A debt; something disadvantageous
Tax Liability
Liability
On-Boarding
Money Market Accounts