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. All costs or bills related to the business






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






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






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






5. A bank account that accumulates interest






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






7. A bond with zero discounts






8. Total assets minus total liabilities






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






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






11. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






12. A general and progressive increase in prices






13. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






14. 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






15. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






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






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






18. 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.






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






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






21. Total assets minus total liabilities






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






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






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






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






26. 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.






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






28. 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.






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






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






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






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






33. An obligation to pay money to another party






34. Income before taxes






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






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






37. Arrangement for deferred payment for goods and services






38. Shares of ownership in a company






39. Someone who has insufficient assets to cover their debts






40. Someone who lends money at excessive rates of interest






41. Anything that is used to produce goods or services






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






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






44. A loan where the payment is acheived through interest






45. 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






46. The period covered by a salary payment






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






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






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






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