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






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






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






4. The amount of tax owed






5. The amount of money you would need to deposit now in order to attain a desired amount in the future






6. An accounting entry acknowledging income or capital items






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






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






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






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






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






12. 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






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






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






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






16. An obligation to pay money to another party






17. An amount that credit card companies can charge for the use of a credit card.






18. A specific plan for spending your income






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






20. Place to create a savings account.






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






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






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






24. Making money for owning something






25. The act of reducing the selling price of merchandise






26. The extent to which something is covered






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






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






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






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






31. The amount accruing to the corporations owners

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32. Total assets minus total liabilities






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






34. Something that is made open or revealed






35. 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.






36. Production of a certain amount






37. Give back (tax return)






38. An accounting entry acknowledging income or capital items






39. Prompt payment for goods or services in currency or by check






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






41. The economical needs of an individual






42. An accounting entry acknowledging sums that are owing






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






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






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






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






47. Having honest intentions






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






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






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







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Can you answer 50 questions in 15 minutes?


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