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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. Income before taxes






2. Total assets minus total liabilities






3. An accounting entry acknowledging sums that are owing






4. Whatever must be given up to obtain some item






5. 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






6. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






7. The act of reducing the selling price of merchandise






8. Maintain by writing regular records






9. A fixed charge for borrowing money






10. Payment for insurance






11. The financial gain (earned or unearned) accruing over a given period of time






12. Grant use or occupation of under a term of contract






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






14. The money paid for employee services






15. Something that is made open or revealed






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






17. The maximum credit that a customer is allowed






18. 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






19. 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






20. An accounting entry acknowledging income or capital items






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






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






23. Making money for owning something






24. Profits paid to investors






25. An act of economizing






26. An obligation to pay money to another party






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






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






29. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






30. Stock other than preferred stock






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






32. Money paid to a worker






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






34. 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






35. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






36. A loan backed by something valuable - such as property






37. A person appointed by a testator to carry out the terms of the will






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






39. The amount of tax owed






40. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation






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






42. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers






43. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






44. An automatic loan made to you if you write a check for more money than you have in your account






45. Is your gross income after certain reductions have been made






46. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






47. A loan where the payment is acheived through interest






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






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






50. A specific plan for spending your income







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