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. Having honest intentions






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






3. Someone who has insufficient assets to cover their debts






4. The period covered by a salary payment






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






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






7. 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






8. A loan where the payment is acheived through interest






9. An accounting entry acknowledging sums that are owing






10. The apparent worth as opposed to the real worth






11. Can be found in a newspaper and shows information about popular stocks.






12. The right to take another's property if an obligation is not discharged






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






14. Something that is made open or revealed






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






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






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






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






19. Income before taxes






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






21. Income before taxes






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






23. 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






24. 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






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






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






27. 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.






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






29. Protection against future loss






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






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






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






33. An obligation to pay money to another party






34. The shares available to sell/buy






35. The interest rate that a bond issuer will pay to a bondholder






36. Someone who has insufficient assets to cover their debts






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






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






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






40. Bring into consonance or accord - to agree on terms






41. Loan where the lender goes through the borrower






42. An exchange that occurs as a compromise






43. Anything that is used to produce goods or services






44. A loan where the payment is acheived through interest






45. A bank account that accumulates interest






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






47. Receiving money for loaning money






48. An accounting entry acknowledging income or capital items






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






50. A debt; something disadvantageous