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. The standard IRS form for individual tax returns.






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






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






4. Production of a certain amount






5. All costs or bills related to the business






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






7. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






8. Compute credits and debits of an account






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






10. 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






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






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






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






14. The percentage of a sum of money charged for its use






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






16. The money paid for employee services






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






18. The act of taking out money or other capital






19. The period covered by a salary payment






20. Place to create a savings account.






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






22. Interest calculated on both the principal and the accrued interest






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






24. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






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






26. The apparent worth as opposed to the real worth






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






28. The act of lending money at an exorbitant rate of interest






29. A bank account that accumulates interest






30. The apparent worth as opposed to the real worth






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






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






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






34. An extra charge for various credit activities such as using an ATM or receiving a cash advance






35. The amount accruing to the corporations owners

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36. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






37. Protection against future loss






38. Someone who lends money at excessive rates of interest






39. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






40. The recipient of funds or other benefits






41. Things that incite or spur to action; rewards or reasons for performing a task.






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






43. Loan where the lender goes through the borrower






44. A bond with zero discounts






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






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






47. An accounting entry acknowledging income or capital items






48. Profits paid to investors






49. A fixed charge for borrowing money






50. Loan with equal number of payments of the same amount over a fixed period of time.