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 amount of money you would need to deposit now in order to attain a desired amount in the future






2. Electronic Funds Transfer






3. Whatever must be given up to obtain some item






4. 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.






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






6. An obligation to pay money to another party






7. The distribution of investment funds among broad classes of assets.






8. The outcome of an event especially as relative to an individual






9. A business activity that changes assets - liabilities - or owner's equity






10. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






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






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






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






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






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






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






17. The amount of tax owed






18. The maximum credit that a customer is allowed






19. 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.






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






21. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






22. An act of economizing






23. Something that is made open or revealed






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






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






26. An exchange that occurs as a compromise






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






28. The interest rate that a bond issuer will pay to a bondholder






29. Whatever must be given up to obtain some item






30. The act of taking out money or other capital






31. A loan in which the rate can be altered to adjust to economical need






32. The period covered by a salary payment






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






34. The extent to which something is covered






35. 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






36. The act of reducing the selling price of merchandise






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






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






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






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






41. Bring into consonance or accord - to agree on terms






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






43. The process of making a decision - usually complex






44. The money(usually a set amount) given to an individual to spend






45. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






46. 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






47. An accounting entry acknowledging sums that are owing






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






49. A debt; something disadvantageous






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