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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 economical needs of an individual
Rent
Secured Loan
Financial Needs
Good Faith
2. Someone who lends money at excessive rates of interest
Loan Shark
Resources
SEC Filings
Net Income
3. A venture undertaken without regard to possible loss or injury
Interest-Only Loan
Opportunity Cost
Saving
Risk
4. 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
Annual Report
Balance
Premium
5. Income before taxes
Gross Income
Stock Symbol
Probate
Coupon Rate
6. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers
Interest Rate
Investing
APR
Secured Loan
7. The distribution of investment funds among broad classes of assets.
Loan
Deduction
Financial Institution
Asset Allocation
8. A delay in enforcing rights or claims or privileges
Bankruptcy
Forbearance
Stockholders' Equity
Return
9. Can be found in a newspaper and shows information about popular stocks.
Profit
Payday Loan
Financial Institution
Stock Table
10. A business activity that changes assets - liabilities - or owner's equity
Risk
Transaction
Forbearance
Taxable Income
11. Loan with equal number of payments of the same amount over a fixed period of time.
Installment Loan
1040 EZ tax form
Issuer
Usury
12. A periodic statement prepared by a bank for each client
Collectibles
Bank Statement
1040 tax form
Savings Register
13. An exchange that occurs as a compromise
Trade-off
Par Value
Personal Allowances
Credit
14. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies
Yield
Mutual Funds
EDGAR
Maturity Date
15. Prompt payment for goods or services in currency or by check
Unsecured Debt
Indirect Car Loan
Cash
Interest Rate
16. Loan where the lender goes through the borrower
Mutual Funds
Withdrawal
Statement of Cash Flows
Direct Car Loan
17. The process of managing one's assets and wealth
Transaction
Usury
Wealth Management
Good Faith
18. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Stock Exchanges
Stockholders' Equity
Savings Register
401 K
19. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Securities
Living Trust
Opportunity Cost
Credit
20. 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.
W-4
Opportunity Cost
Common Stock
Maturity Date
21. Something of value; a resource; an advantage
Debt Consolidation
Asset
Pension
Face Value
22. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
Debt Consolidation
Mortage
Self-Interest
Profit
23. Institution that functions much like a business - but does not operate for the purpose of generating profits
Preferred Stock
Investing
Exemption
Nonprofit Organization
24. The process of managing one's assets and wealth
Wealth Management
Market Capitalization
Income
Transfer Payments
25. The rights of an individual to own - use - rent - invest in - buy - and sell property.
Predatory Lending
Property Rights
Debit
Par Value
26. Items of personal interest to collectors that can increase in value in the future
Collectibles
Total Debt
Mortage
Zero-Coupon Bond
27. Total assets minus total liabilities
Net Worth
Insolvent
Return
Deposit
28. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements
Present Value
Par Value
Probate
Foreclosure
29. 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.
Maintain
Probate
Personal Allowances
W-4
30. The percentage of a sum of money charged for its use
Cannibalizing assets
Rent
Interest Rate
1040 EZ tax form
31. Limited quantities of resources to meet unlimited wants
Disclosure
Scarcity
Overdraft protection
Exemptions
32. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Tax Liability
Phishing
Living Trust
Insolvent
33. A person appointed by a testator to carry out the terms of the will
1040 EZ tax form
Executor
Annual Fee
Risk
34. 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.
Values
Credit
Interest Rate
Financial Goals
35. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.
Maintain
Inflation
Cash
Statement of Cash Flows
36. 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.
Withdrawal
Investing
Annual Report
Opportunity Cost
37. Income on which tax must be paid; total income minus exemptions and deductions
Mutual Funds
Taxable Income
Billing Statement
Deduction
38. Financial reports that summarize the financial condition and operations of a business
Gross Income
EFT
Financial Statements
Financial Institution
39. Shares of ownership in a company
Stocks
Transaction
Late Fee
Deduction
40. Give back (tax return)
EDGAR
Return
Deductible
Identity Theft
41. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Float
Scarcity
Living Trust
dividends
42. Money paid to a worker
Deposit
Transaction
Wage
Financial Institution
43. The maximum credit that a customer is allowed
Line of Credit
Cash
FICA
Unsecured Loan
44. Loan deal in which the actual lender may not be known to the borrower.
Ownership Investments
Bankruptcy
Indirect Car Loan
Asset
45. Certificates that represent money the government has borrowed from private citizens
Zero-Coupon Bond
Bonds
Mutual Funds
Usury
46. The money(usually a set amount) given to an individual to spend
Line of Credit
Ownership Investments
Personal Allowances
Billing Statement
47. Place to create a savings account.
Taxable Income
Statement of Cash Flows
Resources
Savings Register
48. A payment given as a guarantee that an obligation will be met
Deposit
Premium
Vesting
Financial Needs
49. 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
Forbearance
Identity Theft
Incentives
Credit
50. The amount of tax owed
Credit
APR
Tax Liability
FICA