The document discusses time value of money concepts including present value, compound interest, and present value interest factors. It contains 20 multiple choice questions testing understanding of these concepts. Some key ideas covered are: 1) Money received in the future is worth less than money received today. 2) The present value of a future amount discounts the future value to account for the time value of money. 3) Present value interest factors (PVIF) and present value interest factors for annuities (PVIFA) are used to calculate the present value of future cash flows given a discount rate.