SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)
Unsecured Loan
1040 tax form
Good Faith
Gross Income
2. Having honest intentions
Billing Statement
Checkbook Register
Payday Loan
Good Faith
3. By planning ahead you can ensure financial stability during your retirement.
Retirement Planning
Return
Interest Rate
Adjustable-Rate Loan
4. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.
Beneficiary
Direct Car Loan
Bonds
Living Trust
5. Is your gross income after certain reductions have been made
Adjusted Gross Income
Trade-off
Income Statement
Expenses
6. An accounting entry acknowledging sums that are owing
Debit
Unsecured Debt
Executor
Deposit
7. A payment given as a guarantee that an obligation will be met
Profit
Estate Planning
Asset Allocation
Deposit
8. The act of reducing the selling price of merchandise
Deduction
Executor
Salary
Loan
9. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.
Predatory Lending
Ownership Investments
Market Capitalization
Payday Loan
10. 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
Rent
Compound Interest
Usury
11. 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.
Bank Statement
Transfer Payments
Money Market Accounts
Taxable Income
12. Whatever must be given up to obtain some item
Installment Loan
dividends
Will
Opportunity Cost
13. Income before taxes
Annual Report
Mortage
Gross Income
EFT
14. The period covered by a salary payment
Zero-Coupon Bond
Pay Period
EDGAR
Deduction
15. Limited quantities of resources to meet unlimited wants
Scarcity
Deductible
Debit
Exemptions
16. 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.
Shares Outstanding
Investing
Interest
Income Statement
17. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets
Bond Rating
Cannibalizing assets
Fixed-Rate Loan
Balance Sheet
18. Anything that is used to produce goods or services
Cash
Resources
Preferred Stock
Cash
19. Funds that are often times traded through a stock exchange (NYSE)
Interest-Only Loan
Asset
Exchange-Traded Funds
W-4
20. The commercial activity of transporting and selling goods from a producer to a consumer
dividends
Deductible
Adjustable-Rate Loan
Distribution
21. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.
Interest Rate
Liability
Debit
W-4
22. The act of lending money at an exorbitant rate of interest
Consequence
Usury
Taxable Income
Withdrawal
23. Items of personal interest to collectors that can increase in value in the future
401 K
Collectibles
Transaction Fee
Liability
24. A periodic statement prepared by a bank for each client
Bank Statement
Issuer
Consequence
Stockholders' Equity
25. An extra charge for various credit activities such as using an ATM or receiving a cash advance
Indirect Car Loan
Transaction Fee
Saving
Fixed-Rate Loan
26. Shares of ownership in a company
Saving
Balance
Incentives
Stocks
27. The maximum credit that a customer is allowed
Line of Credit
Balance
Wealth Management
EDGAR
28. Funds that are often times traded through a stock exchange (NYSE)
Exchange-Traded Funds
Loan Shark
Wealth Management
Interest-Only Loan
29. A bank account that accumulates interest
Savings Account
Distribution
Transaction
401 K
30. Savings account that pays market rate or better interest and allows access to funds without penalty.
Rent
Risk
Money Market Accounts
Stocks
31. A share set aside for a specific purpose
Savings Account
Investing
Identity Theft
Allocation
32. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)
Overdraft protection
dividends
Identity Theft
Exemption
33. A loan in which the rate can be altered to adjust to economical need
Collectibles
Payday Loan
Adjustable-Rate Loan
Zero-Coupon Bond
34. Financial reports that summarize the financial condition and operations of a business
Transaction
Insolvent
Financial Statements
Mortage
35. Interest calculated on both the principal and the accrued interest
Compound Interest
Opportunity Cost
Bankruptcy
Gross Income
36. 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
Saving
Allocation
Shares Outstanding
Cannibalizing assets
37. Money paid to a worker
Wage
Liability
Debit
Predatory Lending
38. A tax-deferred investment and savings plan that acts as a personal pension fund for employees
Personal Budget
1040 tax form
401 K
Beneficiary
39. Beliefs of a person or social group in which they have an emotional investment (either for or against something)
Savings Account
Retirement Planning
APR
Values
40. Financial reports that summarize the financial condition and operations of a business
Statement of Cash Flows
Pension
Financial Statements
Mutual Funds
41. A yearly statement of the financial condition - progress - and expectations of an organization
Incentives
Estate Planning
Annual Report
Unsecured Debt
42. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation
Opportunity Cost
Time value of money
Lien
Exemption
43. Bring into consonance or accord - to agree on terms
Ownership Investments
Reconcile
Gross Income
Gross Income
44. A penalty for making a payment after the due date
Executor
Line of Credit
Expenses
Late Fee
45. The value of a security that is set by the company issuing it
Maintain
Forbearance
Annual Fee
Par Value
46. Maintain by writing regular records
Maintain
FICA
Lending Investments
Mutual Funds
47. A penalty for making a payment after the due date
Late Fee
Usury
Line of Credit
Withdrawal
48. The process of managing one's assets and wealth
Wealth Management
APR
Wage
Fixed-Rate Loan
49. A venture undertaken without regard to possible loss or injury
Risk
Wealth Management
Interest Rate
Adjusted Gross Income
50. Short-term and Long-term objectives that are driven by values.
Pay Period
Financial Goals
Will
Inflation