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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 process of managing one's assets and wealth
Will
Risk
Living Trust
Wealth Management
2. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Saving
Tax Liability
Billing Statement
Stock Symbol
3. A debt not backed by specific property to satisfy the indebtedness in case of default.
Total Assets
Unsecured Debt
Insurance
Payday Loan
4. A loan in which the rate can be altered to adjust to economical need
Wage
I-9
Insolvent
Adjustable-Rate Loan
5. Funds that are often times traded through a stock exchange (NYSE)
Exchange-Traded Funds
Adjusted Gross Income
Overdraft protection
Mortage
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
Financial Goals
APR
Beneficiary
1040 EZ tax form
7. Whatever must be given up to obtain some item
Deposit
Opportunity Cost
Bankruptcy
Income
8. An act of economizing
Stock Table
Income
Saving
Premium
9. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
EDGAR
Present Value
Interest Rate
Bankruptcy
10. A loan that is paid off in a fixed rate over a period of time
Executor
Fixed-Rate Loan
Annual Fee
Net Worth
11. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt
dividends
Will
Tax Liability
Debt Consolidation
12. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Scarcity
Deductions
Late Fee
Transaction Fee
13. Compute credits and debits of an account
Liability
Resources
Balance
Bonds
14. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Phishing
Balance Sheet
Liability
Net Worth
15. Institution that functions much like a business - but does not operate for the purpose of generating profits
Living Trust
Deductions
Present Value
Nonprofit Organization
16. The rights of an individual to own - use - rent - invest in - buy - and sell property.
Interest Rate
Identity Theft
Transfer Payments
Property Rights
17. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Living Trust
401 K
Nonprofit Organization
Fixed-Rate Loan
18. A bank account that accumulates interest
Savings Account
Resources
Fixed-Rate Loan
Financial Institution
19. 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.
Net Worth
W-4
Compound Interest
Cannibalizing assets
20. Certificates that represent money the government has borrowed from private citizens
Coverage
Liability
Total Debt
Bonds
21. The process of managing one's assets and wealth
Wealth Management
Debt Consolidation
Incentives
Pension
22. A long-term loan extended to someone who buys property
FICA
401 K
Indirect Car Loan
Mortage
23. A loan where the payment is acheived through interest
Consequence
Opportunity Cost
Payday Loan
Interest-Only Loan
24. The amount of tax owed
Tax Liability
Savings Register
Installment Loan
Zero-Coupon Bond
25. The amount of tax owed
Annual Report
Indirect Car Loan
Tax Liability
Bonds
26. A loan backed by something valuable - such as property
Secured Loan
Bond Rating
Saving
Living Trust
27. Preparing a plan for transferring property during one's lifetime and at one's death
Estate Planning
Allocation
Fixed-Rate Loan
Deductible
28. An evaluation by a rating company of the probability that a particular bond issue will default
Stock Symbol
Bond Rating
Inflation
Time value of money
29. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received
Predatory Lending
Net Income
Statement of Cash Flows
Deductions
30. Interest calculated on both the principal and the accrued interest
Expenses
Compound Interest
W-4
Index Fund
31. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Unsecured Loan
Secured Debt
Vesting
Retirement Planning
32. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Values
Deductions
Taxable Income
Maintain
33. Profits paid to investors
dividends
Secured Debt
Nonprofit Organization
Exemptions
34. Someone who has insufficient assets to cover their debts
Insolvent
Reconcile
Bank Statement
Statement of Cash Flows
35. Someone who lends money at excessive rates of interest
Loan Shark
Pension
Collectibles
Asset Allocation
36. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be
Return
Overdraft protection
Unsecured Loan
FICA
37. The act of lending money at an exorbitant rate of interest
Indirect Car Loan
Deduction
Probate
Usury
38. Can be found in a newspaper and shows information about popular stocks.
Credit
Stock Table
Profit
Rent
39. Having honest intentions
Money Market Accounts
Good Faith
Incentives
Deposit
40. Diagnosis Codes (in CCB Popup if more then 5 codes)
Financial Institution
FICA
I-9
Savings Register
41. A loan where the payment is acheived through interest
Resources
Interest-Only Loan
Balance
Debit
42. A periodic statement prepared by a bank for each client
Adjustable-Rate Loan
Bank Statement
Secured Loan
Installment Loan
43. A penalty for making a payment after the due date
Liability
Late Fee
Total Assets
401 K
44. Business organizations that accommodate the buying and selling of securities.
Decison-making
Insurance
Compound Interest
Stock Exchanges
45. The right to take another's property if an obligation is not discharged
Bankruptcy
Unsecured Debt
Allocation
Lien
46. Total assets minus total liabilities
Net Worth
Indirect Car Loan
Payday Loan
Shares Outstanding
47. An institution that issues something (securities or publications or currency etc.)
Asset Allocation
Debt Consolidation
Interest Rate
Issuer
48. The date on which a financial obligation must be repaid
Forbearance
Maturity Date
Distribution
Coverage
49. Protection against future loss
Debit
Probate
Insurance
Savings Account
50. A financial statement that gives operating results for a specific period
Exemption
Investing
Cash
Income Statement