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. An obligation to pay money to another party






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






3. The extent to which something is covered






4. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






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






6. 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






7. Something that is made open or revealed






8. The standard IRS form for individual tax returns.






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






10. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






11. Maintain by writing regular records






12. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






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






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






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






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






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






18. The act of reducing the selling price of merchandise






19. An amount that credit card companies can charge for the use of a credit card.






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






21. Whatever must be given up to obtain some item






22. Having honest intentions






23. The standard IRS form for individual tax returns.






24. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






25. Give back (tax return)






26. Total assets minus total liabilities






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






28. Limited quantities of resources to meet unlimited wants






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






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






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






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






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






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






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






36. A regular payment to a person that iis intended to allow them to subsist without working






37. Items of personal interest to collectors that can increase in value in the future






38. The extent to which something is covered






39. Electronic Funds Transfer






40. Production of a certain amount






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






42. Concern for ones own well being and advantages






43. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






44. Profits paid to investors






45. Arrangement for deferred payment for goods and services






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






47. Arrangement for deferred payment for goods and services






48. Profits paid to investors






49. Payment for insurance






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