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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 record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Interest
Financial Goals
Balance Sheet
Distribution
2. Financial reports that summarize the financial condition and operations of a business
Secured Loan
Financial Statements
Stockholders' Equity
Incentives
3. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Adjustable-Rate Loan
Living Trust
Yield
Investing
4. A general and progressive increase in prices
Stockholders' Equity
Asset Allocation
Incentives
Inflation
5. Compute credits and debits of an account
Balance
Decison-making
Shares Outstanding
Common Stock
6. Financial organization that pools people's money and invests it
Financial Goals
Deductions
Mutual Funds
Salary
7. Loan deal in which the actual lender may not be known to the borrower.
Total Assets
Indirect Car Loan
Line of Credit
Mutual Funds
8. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index
EDGAR
Foreclosure
Billing Statement
Index Fund
9. Business organizations that accommodate the buying and selling of securities.
Bank Statement
Stock Exchanges
Savings Account
Transfer Payments
10. The maximum credit that a customer is allowed
Loan Shark
Opportunity Cost
Rent
Line of Credit
11. An accounting entry acknowledging income or capital items
Stocks
Money Market Accounts
Credit
Living Trust
12. Having honest intentions
Wealth Management
Retirement Planning
Exemptions
Good Faith
13. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Direct Car Loan
Lending Investments
Living Trust
Zero-Coupon Bond
14. Preparing a plan for transferring property during one's lifetime and at one's death
EDGAR
Compound Interest
Estate Planning
1040 EZ tax form
15. The right to take another's property if an obligation is not discharged
Decison-making
Lien
Pension
Compound Interest
16. Grant use or occupation of under a term of contract
Transaction Fee
Rent
Usury
Late Fee
17. The act of taking out money or other capital
Present Value
Withdrawal
Balance Sheet
Balance Sheet
18. Something that is made open or revealed
Money Market Accounts
Issuer
Disclosure
Financial Statements
19. A share set aside for a specific purpose
Allocation
Withdrawal
Investing
Risk
20. The commercial activity of transporting and selling goods from a producer to a consumer
Debit
Exemption
Distribution
Personal Allowances
21. Someone who has insufficient assets to cover their debts
Financial Goals
Statement of Cash Flows
Insolvent
Index Fund
22. Income on which tax must be paid; total income minus exemptions and deductions
Asset Allocation
Loan
Total Assets
Taxable Income
23. 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.
Insurance
Adjustable-Rate Loan
Transfer Payments
Deductible
24. The distribution of investment funds among broad classes of assets.
Asset Allocation
Nonprofit Organization
Transfer Payments
Deductions
25. An institution that issues something (securities or publications or currency etc.)
Reconcile
Issuer
Par Value
Executor
26. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Preferred Stock
Property Rights
Common Stock
Maturity Date
27. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Common Stock
Securities
Transaction Fee
Deposit
28. The recipient of funds or other benefits
Beneficiary
Risk
Resources
Disclosure
29. A bond with zero discounts
Face Value
Zero-Coupon Bond
Bankruptcy
Preferred Stock
30. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Personal Budget
1040 EZ tax form
Disclosure
Interest Rate
31. A loan backed by something valuable - such as property
Secured Loan
Saving
Cash
Investing
32. Certificates that represent money the government has borrowed from private citizens
Estate Planning
Bonds
Allocation
Executor
33. Funds that are often times traded through a stock exchange (NYSE)
Exchange-Traded Funds
Beneficiary
Interest
Savings Account
34. A loan that is paid off in a fixed rate over a period of time
Inflation
I-9
Fixed-Rate Loan
Checkbook Register
35. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Expenses
Debt Consolidation
Profit
Bonds
36. The amount of money you would need to deposit now in order to attain a desired amount in the future
Consequence
Rent
Present Value
Unsecured Loan
37. A debt not backed by specific property to satisfy the indebtedness in case of default.
Unsecured Debt
Decison-making
Inflation
Bank Statement
38. The interest rate that a bond issuer will pay to a bondholder
Coupon Rate
Maturity Date
EDGAR
Zero-Coupon Bond
39. Place to create a savings account.
Values
Disclosure
Mutual Funds
Savings Register
40. A penalty for making a payment after the due date
Salary
Interest-Only Loan
Late Fee
Common Stock
41. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
Bankruptcy
Index Fund
Financial Goals
EDGAR
42. 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.
Lien
Deduction
Trade-off
Loan
43. Something of value; a resource; an advantage
Asset
Interest Rate
Financial Needs
Cannibalizing assets
44. Income on which tax must be paid; total income minus exemptions and deductions
Annual Report
Expenses
Taxable Income
Compound Interest
45. The act of reducing the selling price of merchandise
SEC Filings
Par Value
Deduction
Deductions
46. A business activity that changes assets - liabilities - or owner's equity
Transaction
EFT
Phishing
Shares Outstanding
47. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money
Overdraft protection
Money Market Accounts
Identity Theft
Financial Institution
48. Prompt payment for goods or services in currency or by check
Cash
Identity Theft
Compound Interest
Scarcity
49. The percentage of a sum of money charged for its use
Salary
Overdraft protection
Interest Rate
Preferred Stock
50. An obligation to pay money to another party
Financial Institution
Index Fund
Mutual Funds
Liability