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






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






3. Something that is made open or revealed






4. Anything that is used to produce goods or services






5. Savings account that pays market rate or better interest and allows access to funds without penalty.






6. Income before taxes






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






8. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.






9. A delay in enforcing rights or claims or privileges






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






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






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






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






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






15. 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.






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






17. An evaluation by a rating company of the probability that a particular bond issue will default






18. A loan where the payment is acheived through interest






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






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






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






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






23. 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






24. An exchange that occurs as a compromise






25. A bank account that accumulates interest






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






27. A delay in enforcing rights or claims or privileges






28. A fixed charge for borrowing money






29. Payment for insurance






30. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






31. Maintain by writing regular records






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






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






34. Something of value; a resource; an advantage






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






36. All costs or bills related to the business






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






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






39. An act of economizing






40. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






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






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






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






44. The process of making a decision - usually complex






45. Compute credits and debits of an account






46. Electronic Funds Transfer






47. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






48. A general and progressive increase in prices






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






50. Arrangement for deferred payment for goods and services