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 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.






2. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






3. A record of checks written and deposits made in a checking account - kept by the depositor






4. Profits paid to investors






5. A yearly statement of the financial condition - progress - and expectations of an organization






6. Simplified IRS tax form which some individuals can file instead of the 1040 form.






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






8. An obligation to pay money to another party






9. Compute credits and debits of an account






10. A bank account that accumulates interest






11. Concern for ones own well being and advantages






12. Shares of ownership in a company






13. Arrangement for deferred payment for goods and services






14. A yearly statement of the financial condition - progress - and expectations of an organization






15. 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






16. 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.






17. Something of value; a resource; an advantage






18. Certificates that represent money the government has borrowed from private citizens






19. Electronic Funds Transfer






20. Institution that functions much like a business - but does not operate for the purpose of generating profits






21. Savings account that pays market rate or better interest and allows access to funds without penalty.






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






23. Can be found in a newspaper and shows information about popular stocks.






24. The percentage of a sum of money charged for its use






25. Diagnosis Codes (in CCB Popup if more then 5 codes)






26. The process of managing one's assets and wealth






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






28. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






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






31. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






32. A venture undertaken without regard to possible loss or injury






33. The money paid for employee services






34. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






35. The act of reducing the selling price of merchandise






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






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






38. A loan where the payment is acheived through interest






39. The value of a security that is set by the company issuing it






40. The maximum credit that a customer is allowed






41. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






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






44. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.






45. Limited quantities of resources to meet unlimited wants






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






47. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






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






49. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






50. The rights of an individual to own - use - rent - invest in - buy - and sell property.