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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. Can be found in a newspaper and shows information about popular stocks.
Incentives
Stock Table
Rent
W-4
2. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Living Trust
Resources
Distribution
Will
3. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Identity Theft
Mutual Funds
Foreclosure
Coupon Rate
4. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Line of Credit
Time value of money
Par Value
Living Trust
5. By planning ahead you can ensure financial stability during your retirement.
Late Fee
Billing Statement
Usury
Retirement Planning
6. Stock other than preferred stock
Common Stock
Withdrawal
Allocation
Pension
7. A specific plan for spending your income
Yield
Estate Planning
Nonprofit Organization
Personal Budget
8. Place to create a savings account.
Index Fund
Incentives
Expenses
Savings Register
9. The process of managing one's assets and wealth
Allocation
Mutual Funds
Wealth Management
Unsecured Loan
10. A debt; something disadvantageous
Liability
Installment Loan
Deductions
Mortage
11. An institution that issues something (securities or publications or currency etc.)
Scarcity
Line of Credit
Financial Institution
Issuer
12. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
Shares Outstanding
Investing
Payday Loan
Balance Sheet
13. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
SEC Filings
Billing Statement
Balance Sheet
Premium
14. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company
Total Assets
Balance
Insolvent
1040 EZ tax form
15. Institution that functions much like a business - but does not operate for the purpose of generating profits
Incentives
Common Stock
Nonprofit Organization
Saving
16. The financial gain (earned or unearned) accruing over a given period of time
Transaction
Payday Loan
Income
Face Value
17. An automatic loan made to you if you write a check for more money than you have in your account
Secured Debt
Asset Allocation
Overdraft protection
Time value of money
18. Simplified IRS tax form which some individuals can file instead of the 1040 form.
Transaction Fee
Self-Interest
1040 EZ tax form
Overdraft protection
19. An evaluation by a rating company of the probability that a particular bond issue will default
Bond Rating
Secured Debt
Float
Nonprofit Organization
20. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.
Payday Loan
Deductions
Profit
Savings Register
21. The act of lending money at an exorbitant rate of interest
Usury
On-Boarding
Late Fee
Index Fund
22. The financial gain (earned or unearned) accruing over a given period of time
Income
Late Fee
Lien
Nonprofit Organization
23. Short-term and Long-term objectives that are driven by values.
On-Boarding
Overdraft protection
Financial Goals
Financial Needs
24. Anything that is used to produce goods or services
Unsecured Debt
Resources
Probate
Exemption
25. Money paid to a worker
EFT
Coupon Rate
Self-Interest
Wage
26. Financial organization that pools people's money and invests it
Investing
Float
Mutual Funds
Yield
27. The percentage of a sum of money charged for its use
Interest Rate
Overdraft protection
Unsecured Debt
Indirect Car Loan
28. A venture undertaken without regard to possible loss or injury
Risk
Overdraft protection
Net Worth
Income
29. Financial reports that summarize the financial condition and operations of a business
Financial Statements
Stockholders' Equity
Certificates of Deposit
Direct Car Loan
30. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Debit
Bankruptcy
Transaction Fee
Personal Allowances
31. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights
Resources
Preferred Stock
Bankruptcy
Present Value
32. 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.
Collectibles
Debit
Stocks
Investing
33. Funds that pay part of their distributions out of principal cannibalize their assets. This depletes the fund's asset base. Funds cannibalize assets to maintain a dividend and keep shareholders happy. However - like feeding a cow its own milk - this p
APR
Debt Consolidation
Overdraft protection
Cannibalizing assets
34. Profits paid to investors
Annual Report
dividends
Statement of Cash Flows
Allocation
35. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.
1040 EZ tax form
Payday Loan
Risk
Resources
36. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time
Vesting
Stocks
Money Market Accounts
EFT
37. The act of reducing the selling price of merchandise
Coverage
Personal Allowances
Deduction
SEC Filings
38. Financial reports that summarize the financial condition and operations of a business
Interest Rate
Financial Statements
Exemption
Adjustable-Rate Loan
39. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month
Adjusted Gross Income
Coverage
Allocation
Billing Statement
40. An obligation to pay money to another party
Reconcile
Preferred Stock
Liability
Taxable Income
41. A legal document declaring a person's wishes regarding the disposal of their property when they die
Will
Savings Register
Deductions
Bond Rating
42. Production of a certain amount
Executor
Expenses
Deductions
Yield
43. The right to take another's property if an obligation is not discharged
SEC Filings
Lien
Payday Loan
Scarcity
44. Preparing a plan for transferring property during one's lifetime and at one's death
Interest Rate
Coupon Rate
Estate Planning
Premium
45. Electronic Funds Transfer
Profit
EFT
Wage
Gross Income
46. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Exemption
Expenses
Transaction
Par Value
47. Loan where the lender goes through the borrower
Financial Institution
Bank Statement
Direct Car Loan
Reconcile
48. A delay in enforcing rights or claims or privileges
Scarcity
Nonprofit Organization
Forbearance
Stock Exchanges
49. Payment for insurance
Self-Interest
Payday Loan
Premium
Liability
50. 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
Wealth Management
Unsecured Loan
Resources