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






2. The standard IRS form for individual tax returns.






3. A fixed charge for borrowing money






4. Compute credits and debits of an account






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






6. Profits paid to investors






7. Stock other than preferred stock






8. Income before taxes






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






10. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.






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






12. A delay in enforcing rights or claims or privileges






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






14. Protection against future loss






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






16. Funds that are often times traded through a stock exchange (NYSE)






17. A payment given as a guarantee that an obligation will be met






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






19. All costs or bills related to the business






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






21. A debt not backed by specific property to satisfy the indebtedness in case of default.






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






23. The process of making a decision - usually complex






24. 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






25. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






26. Something of value; a resource; an advantage






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






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






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






30. 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.






31. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






32. 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.






33. The extent to which something is covered






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






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






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






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






38. The commercial activity of transporting and selling goods from a producer to a consumer






39. The date on which a financial obligation must be repaid






40. The money paid for employee services






41. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






42. Someone who has insufficient assets to cover their debts






43. An accounting entry acknowledging sums that are owing






44. Making money for owning something






45. Business organizations that accommodate the buying and selling of securities.






46. An institution that issues something (securities or publications or currency etc.)






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






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






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






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