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 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.






2. 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






3. Electronic Funds Transfer






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






5. By planning ahead you can ensure financial stability during your retirement.






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 taking out money or other capital






8. 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






9. Give back (tax return)






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






11. Money paid to a worker






12. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






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






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






15. Anything that is used to produce goods or services






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






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






18. Shares of ownership in a company






19. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month






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






21. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






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






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






24. Someone who has insufficient assets to cover their debts






25. A long-term loan extended to someone who buys property






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






27. Compute credits and debits of an account






28. Place to create a savings account.






29. 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.






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






31. Limited quantities of resources to meet unlimited wants






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






33. A delay in enforcing rights or claims or privileges






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






35. The amount accruing to the corporations owners

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






37. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






38. The period covered by a salary payment






39. Electronic Funds Transfer






40. 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.






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






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






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






44. Having honest intentions






45. 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






46. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






47. Whatever must be given up to obtain some item






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






49. 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






50. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets