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. Maintain by writing regular records






2. The date on which a financial obligation must be repaid






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






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






5. Having honest intentions






6. 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.






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






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






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






10. Production of a certain amount






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






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






13. A delay in enforcing rights or claims or privileges






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






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






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






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






18. Concern for ones own well being and advantages






19. 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.






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






21. The shares available to sell/buy






22. 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.






23. The amount accruing to the corporations owners

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24. A bank account that accumulates interest






25. Income before taxes






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






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






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






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






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






31. The money paid for employee services






32. Whatever must be given up to obtain some item






33. Give back (tax return)






34. The standard IRS form for individual tax returns.






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






36. Electronic Funds Transfer






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






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






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






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






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






42. Money paid to a worker






43. A loan where the payment is acheived through interest






44. 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






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






46. Arrangement for deferred payment for goods and services






47. Place to create a savings account.






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






49. The act of taking out money or other capital






50. Protection against future loss