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 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.






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






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






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






5. A fixed charge for borrowing money






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






7. A loan in which the rate can be altered to adjust to economical need






8. 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






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






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






11. A bond with zero discounts






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






13. Arrangement for deferred payment for goods and services






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






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






16. 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






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






18. Limited quantities of resources to meet unlimited wants






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






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






21. Compute credits and debits of an account






22. Whatever must be given up to obtain some item






23. Anything that is used to produce goods or services






24. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






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






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






27. The period covered by a salary payment






28. 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






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






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






31. The standard IRS form for individual tax returns.






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






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






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






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






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






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






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






40. Someone who has insufficient assets to cover their debts






41. The outcome of an event especially as relative to an individual






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






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






44. A loan that is paid off in a fixed rate over a period of time






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






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






47. The shares available to sell/buy






48. The value of a security that is set by the company issuing it






49. Income before taxes






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