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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. Receiving money for loaning money
Balance Sheet
Total Debt
Debt Consolidation
Lending Investments
2. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)
Adjustable-Rate Loan
Forbearance
Profit
Preferred Stock
3. Limited quantities of resources to meet unlimited wants
1040 EZ tax form
Stock Symbol
Net Worth
Scarcity
4. An accounting entry acknowledging income or capital items
Nonprofit Organization
Payday Loan
Credit
Yield
5. The recipient of funds or other benefits
Certificates of Deposit
Securities
Beneficiary
Allocation
6. A debt; something disadvantageous
Liability
Cannibalizing assets
Resources
EFT
7. Financial organization that pools people's money and invests it
Consequence
Direct Car Loan
Property Rights
Mutual Funds
8. A loan backed by something valuable - such as property
Transaction Fee
Salary
SEC Filings
Secured Loan
9. Income before taxes
Mortage
Premium
Gross Income
Credit
10. Short-term and Long-term objectives that are driven by values.
Financial Goals
Inflation
Debit
Deposit
11. All costs or bills related to the business
Financial Goals
Predatory Lending
Expenses
Gross Income
12. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Retirement Planning
Living Trust
Wealth Management
Gross Income
13. A delay in enforcing rights or claims or privileges
Interest Rate
Will
Personal Allowances
Forbearance
14. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Time value of money
Credit
Deductions
Unsecured Debt
15. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Zero-Coupon Bond
EFT
Stockholders' Equity
Time value of money
16. 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
Nonprofit Organization
Executor
Interest Rate
Exemptions
17. Place to create a savings account.
Savings Register
Late Fee
Resources
Asset Allocation
18. The value of a security that is set by the company issuing it
Insolvent
Salary
Money Market Accounts
Par Value
19. An accounting entry acknowledging sums that are owing
Debit
Exemptions
Deduction
Forbearance
20. Income on which tax must be paid; total income minus exemptions and deductions
Direct Car Loan
On-Boarding
Taxable Income
Debit
21. The amount of tax owed
Tax Liability
Transaction Fee
Financial Statements
On-Boarding
22. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Preferred Stock
Vesting
Coupon Rate
Fixed-Rate Loan
23. Someone who has insufficient assets to cover their debts
I-9
Insolvent
Deduction
Pension
24. 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
Interest Rate
Identity Theft
Stock Exchanges
Transaction
25. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.
Debit
Saving
Securities
Disclosure
26. Business organizations that accommodate the buying and selling of securities.
Stock Exchanges
Net Income
Credit
Checkbook Register
27. Items of personal interest to collectors that can increase in value in the future
Beneficiary
Incentives
Collectibles
EDGAR
28. Whatever must be given up to obtain some item
Opportunity Cost
W-4
Distribution
Asset Allocation
29. A general and progressive increase in prices
Good Faith
Inflation
Debt Consolidation
Stockholders' Equity
30. An automatic loan made to you if you write a check for more money than you have in your account
Money Market Accounts
EDGAR
Deduction
Overdraft protection
31. Institution that functions much like a business - but does not operate for the purpose of generating profits
Deductible
Line of Credit
Nonprofit Organization
On-Boarding
32. The financial gain (earned or unearned) accruing over a given period of time
Lending Investments
FICA
Income
I-9
33. Anything that is used to produce goods or services
Trade-off
Resources
Pay Period
APR
34. The act of reducing the selling price of merchandise
Secured Debt
FICA
Deduction
Preferred Stock
35. Things that incite or spur to action; rewards or reasons for performing a task.
Secured Debt
Risk
Income
Incentives
36. 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.
Transfer Payments
Withdrawal
Par Value
Income Statement
37. Financial reports that summarize the financial condition and operations of a business
Financial Statements
Coupon Rate
Adjusted Gross Income
Pension
38. The period covered by a salary payment
Maturity Date
Will
Ownership Investments
Pay Period
39. A person appointed by a testator to carry out the terms of the will
Executor
Late Fee
Wage
Par Value
40. A financial statement that gives operating results for a specific period
Income Statement
Deductible
Liability
Indirect Car Loan
41. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail
Bonds
Adjustable-Rate Loan
Line of Credit
Phishing
42. Financial reports that summarize the financial condition and operations of a business
Financial Statements
Forbearance
Loan
Phishing
43. 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.
Tax Liability
EDGAR
Shares Outstanding
Secured Debt
44. The process of managing one's assets and wealth
EDGAR
Wealth Management
I-9
Liability
45. Can be found in a newspaper and shows information about popular stocks.
Stock Table
Maintain
Ownership Investments
Executor
46. An accounting entry acknowledging sums that are owing
Debit
Deposit
Probate
Lien
47. The economical needs of an individual
Maturity Date
Financial Needs
Consequence
Annual Report
48. The money(usually a set amount) given to an individual to spend
Zero-Coupon Bond
Salary
Personal Allowances
Financial Needs
49. Preparing a plan for transferring property during one's lifetime and at one's death
Adjusted Gross Income
Estate Planning
Coupon Rate
Risk
50. Profits paid to investors
Net Worth
dividends
Resources
Zero-Coupon Bond