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






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






3. 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






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






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






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






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






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






9. The shares available to sell/buy






10. A debt; something disadvantageous






11. Concern for ones own well being and advantages






12. The standard IRS form for individual tax returns.






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






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






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






16. Income before taxes






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






18. An institution that issues something (securities or publications or currency etc.)






19. A debt; something disadvantageous






20. Give back (tax return)






21. A specific plan for spending your income






22. Shares of ownership in a company






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






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






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






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






27. Protection against future loss






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






29. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






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






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






32. 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






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






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






35. Stock other than preferred stock






36. The maximum credit that a customer is allowed






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






38. Having honest intentions






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






40. An accounting entry acknowledging income or capital items






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






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






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






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






45. An exchange that occurs as a compromise






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






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






48. 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.






49. Production of a certain amount






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