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






2. Is your gross income after certain reductions have been made






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






4. The standard IRS form for individual tax returns.






5. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






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






7. Shares of ownership in a company






8. Someone who lends money at excessive rates of interest






9. Payment for insurance






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






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






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






13. Compute credits and debits of an account






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






15. Anything that is used to produce goods or services






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






17. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






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






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






20. Stock other than preferred stock






21. 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






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






23. Grant use or occupation of under a term of contract






24. 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






25. A general and progressive increase in prices






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






27. The process of making a decision - usually complex






28. Someone who lends money at excessive rates of interest






29. The amount of tax owed






30. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






31. The maximum credit that a customer is allowed






32. 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.






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






34. Making money for owning something






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






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






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






38. 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






39. The time interval between the deposit of a check in a bank and its payment






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






41. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






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






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






44. A loan where the payment is acheived through interest






45. Anything that is used to produce goods or services






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






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






48. All costs or bills related to the business






49. 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.






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