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






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






3. 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.






4. The recipient of funds or other benefits






5. A share set aside for a specific purpose






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






7. The process of making a decision - usually complex






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






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






10. Protection against future loss






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






12. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






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






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






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






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






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






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






19. An accounting entry acknowledging income or capital items






20. Production of a certain amount






21. An accounting entry acknowledging income or capital items






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






23. A fixed charge for borrowing money






24. Give back (tax return)






25. Electronic Funds Transfer






26. The act of taking out money or other capital






27. 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.






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






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






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






31. The maximum credit that a customer is allowed






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






33. The economical needs of an individual






34. A venture undertaken without regard to possible loss or injury






35. An exchange that occurs as a compromise






36. A loan where the payment is acheived through interest






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






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






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






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






41. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






42. The amount accruing to the corporations owners

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






44. 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






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






46. An automatic loan made to you if you write a check for more money than you have in your account






47. Money paid to a worker






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






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






50. The amount of tax owed