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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 business activity that changes assets - liabilities - or owner's equity
Secured Debt
Transaction
Loan Shark
Secured Debt
2. Prompt payment for goods or services in currency or by check
Values
Indirect Car Loan
Probate
Cash
3. A financial statement that gives operating results for a specific period
Good Faith
Income Statement
Incentives
Debt Consolidation
4. The amount of money you would need to deposit now in order to attain a desired amount in the future
Taxable Income
401 K
Beneficiary
Present Value
5. Limited quantities of resources to meet unlimited wants
Total Debt
Scarcity
Personal Budget
Gross Income
6. An act of economizing
Stock Symbol
Saving
Exemption
Adjustable-Rate Loan
7. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Total Assets
Financial Statements
Investing
Stock Symbol
8. A business activity that changes assets - liabilities - or owner's equity
Transaction
Yield
Income
Phishing
9. The financial gain (earned or unearned) accruing over a given period of time
Income
Salary
Nonprofit Organization
Net Worth
10. A delay in enforcing rights or claims or privileges
Trade-off
EDGAR
Forbearance
Installment Loan
11. Loan deal in which the actual lender may not be known to the borrower.
Indirect Car Loan
Maintain
Net Income
Phishing
12. Preparing a plan for transferring property during one's lifetime and at one's death
Estate Planning
Usury
Bank Statement
Asset Allocation
13. By planning ahead you can ensure financial stability during your retirement.
Financial Goals
Deduction
Retirement Planning
Checkbook Register
14. The amount accruing to the corporations owners
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15. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure
Deposit
Saving
Usury
Total Debt
16. Profits paid to investors
Beneficiary
Savings Register
Mutual Funds
dividends
17. A penalty for making a payment after the due date
Coverage
Late Fee
Reconcile
Personal Allowances
18. 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
Installment Loan
Shares Outstanding
I-9
19. An accounting entry acknowledging income or capital items
Credit
Salary
Cannibalizing assets
Statement of Cash Flows
20. The outcome of an event especially as relative to an individual
Installment Loan
Consequence
Probate
Self-Interest
21. Having honest intentions
Money Market Accounts
Estate Planning
Good Faith
Unsecured Loan
22. Can be found in a newspaper and shows information about popular stocks.
Secured Loan
Stock Table
Interest Rate
Liability
23. Shares of ownership in a company
Decison-making
FICA
Stocks
Float
24. Protection against future loss
Interest Rate
Mutual Funds
Credit
Insurance
25. 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.
Bond Rating
Personal Budget
Loan
Common Stock
26. Can be found in a newspaper and shows information about popular stocks.
Stock Table
Secured Loan
Time value of money
Credit
27. An amount that credit card companies can charge for the use of a credit card.
Unsecured Debt
Market Capitalization
Annual Fee
Return
28. Production of a certain amount
Direct Car Loan
Transfer Payments
Annual Report
Yield
29. Financial reports that summarize the financial condition and operations of a business
Fixed-Rate Loan
Financial Statements
Deductible
Identity Theft
30. 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.
Phishing
W-4
Scarcity
Coverage
31. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.
Money Market Accounts
Float
APR
Secured Debt
32. Loan where the lender goes through the borrower
Gross Income
Secured Loan
Cannibalizing assets
Direct Car Loan
33. The extent to which something is covered
Annual Report
Disclosure
Debit
Coverage
34. Simplified IRS tax form which some individuals can file instead of the 1040 form.
1040 EZ tax form
Vesting
Tax Liability
Mutual Funds
35. A debt not backed by specific property to satisfy the indebtedness in case of default.
W-4
Usury
Unsecured Debt
Mutual Funds
36. A legal document declaring a person's wishes regarding the disposal of their property when they die
Savings Register
Liability
Will
Par Value
37. Concern for ones own well being and advantages
Self-Interest
Profit
Forbearance
Liability
38. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.
Estate Planning
Checkbook Register
Bank Statement
Securities
39. Arrangement for deferred payment for goods and services
Loan Shark
Credit
Ownership Investments
Secured Debt
40. By planning ahead you can ensure financial stability during your retirement.
Income Statement
Retirement Planning
Zero-Coupon Bond
Float
41. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Total Assets
Issuer
401 K
Debt Consolidation
42. 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
Disclosure
Lien
Compound Interest
Exemptions
43. Prompt payment for goods or services in currency or by check
Scarcity
Debt Consolidation
Cash
Return
44. A loan that is paid off in a fixed rate over a period of time
Cannibalizing assets
Coupon Rate
Fixed-Rate Loan
dividends
45. A yearly statement of the financial condition - progress - and expectations of an organization
Debt Consolidation
Annual Report
Withdrawal
Tax Liability
46. A loan where the payment is acheived through interest
Interest-Only Loan
Risk
SEC Filings
Incentives
47. A bank account that accumulates interest
Issuer
FICA
Savings Account
Retirement Planning
48. Financial organization that pools people's money and invests it
Interest Rate
Reconcile
Mutual Funds
Premium
49. An institution that issues something (securities or publications or currency etc.)
Issuer
Time value of money
Market Capitalization
Wage
50. All costs or bills related to the business
Financial Statements
Resources
Expenses
Credit