Test your basic knowledge |

Wealth Management

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 percentage of a sum of money charged for its use






2. An accounting entry acknowledging income or capital items






3. 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.






4. Interest calculated on both the principal and the accrued interest






5. Things that incite or spur to action; rewards or reasons for performing a task.






6. Loan deal in which the actual lender may not be known to the borrower.






7. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






8. Give back (tax return)






9. Prompt payment for goods or services in currency or by check






10. A bank account that accumulates interest






11. The time interval between the deposit of a check in a bank and its payment






12. The process of making a decision - usually complex






13. Loan with equal number of payments of the same amount over a fixed period of time.






14. An exchange that occurs as a compromise






15. Income on which tax must be paid; total income minus exemptions and deductions






16. Arrangement for deferred payment for goods and services






17. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






18. Income on which tax must be paid; total income minus exemptions and deductions






19. Anything that is used to produce goods or services






20. An extra charge for various credit activities such as using an ATM or receiving a cash advance






21. Financial organization that pools people's money and invests it






22. The act of lending money at an exorbitant rate of interest






23. A penalty for making a payment after the due date






24. Income before taxes






25. Financial organization that pools people's money and invests it






26. Compute credits and debits of an account






27. A periodic statement prepared by a bank for each client






28. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






29. 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.






30. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






31. Short-term and Long-term objectives that are driven by values.






32. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






33. Financial reports that summarize the financial condition and operations of a business






34. The amount of tax owed






35. Stock other than preferred stock






36. An obligation to pay money to another party






37. The time interval between the deposit of a check in a bank and its payment






38. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






39. A financial statement that gives operating results for a specific period






40. Someone who has insufficient assets to cover their debts






41. The right to take another's property if an obligation is not discharged






42. By planning ahead you can ensure financial stability during your retirement.






43. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






44. A legal document declaring a person's wishes regarding the disposal of their property when they die






45. A specific plan for spending your income






46. Interest calculated on both the principal and the accrued interest






47. An accounting entry acknowledging sums that are owing






48. Place to create a savings account.






49. Production of a certain amount






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.