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






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






4. An obligation to pay money to another party






5. The standard IRS form for individual tax returns.






6. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






8. The extent to which something is covered






9. All costs or bills related to the business






10. Payment for insurance






11. A general and progressive increase in prices






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






13. Receiving money for loaning money






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






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






16. A specific plan for spending your income






17. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






18. The process of managing one's assets and wealth






19. The act of taking out money or other capital






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






21. A debt; something disadvantageous






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






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






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






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






26. Electronic Funds Transfer






27. The amount of tax owed






28. The financial gain (earned or unearned) accruing over a given period of time






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






30. 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






31. The shares available to sell/buy






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






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






34. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






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






36. A delay in enforcing rights or claims or privileges






37. Loan where the lender goes through the borrower






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






39. Loan where the lender goes through the borrower






40. Something of value; a resource; an advantage






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






42. The commercial activity of transporting and selling goods from a producer to a consumer






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






44. An accounting entry acknowledging income or capital items






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






46. A loan where the payment is acheived through interest






47. Concern for ones own well being and advantages






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






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






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