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. Electronic Funds Transfer






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






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






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






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






6. Something of value; a resource; an advantage






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






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






9. A legal document declaring a person's wishes regarding the disposal of their property when they die






10. 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.






11. Income before taxes






12. The recipient of funds or other benefits






13. A share set aside for a specific purpose






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






15. Someone who lends money at excessive rates of interest






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






17. Receiving money for loaning money






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






19. Total assets minus total liabilities






20. Limited quantities of resources to meet unlimited wants






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






22. Short-term and Long-term objectives that are driven by values.






23. The extent to which something is covered






24. The process of making a decision - usually complex






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






26. The amount of tax owed






27. A loan that is paid off in a fixed rate over a period of time






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






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






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






31. Arrangement for deferred payment for goods and services






32. The act of reducing the selling price of merchandise






33. Preparing a plan for transferring property during one's lifetime and at one's death






34. Someone who lends money at excessive rates of interest






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






36. Protection against future loss






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






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






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






40. Shares of ownership in a company






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






42. The amount of tax owed






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






44. The recipient of funds or other benefits






45. An evaluation by a rating company of the probability that a particular bond issue will default






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






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






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






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






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