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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. Bring into consonance or accord - to agree on terms






2. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers






3. An act of economizing






4. Income before taxes






5. The process of making a decision - usually complex






6. 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.






7. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






8. Place to create a savings account.






9. Funds that are often times traded through a stock exchange (NYSE)






10. A specific plan for spending your income






11. Income before taxes






12. The money paid for employee services






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






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






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






16. Limited quantities of resources to meet unlimited wants






17. Anything that is used to produce goods or services






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






19. The standard IRS form for individual tax returns.






20. A bank account that accumulates interest






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






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






23. A debt not backed by specific property to satisfy the indebtedness in case of default.






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






25. An exchange that occurs as a compromise






26. An accounting entry acknowledging income or capital items






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






28. Making money for owning something






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






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






31. Having honest intentions






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






33. Concern for ones own well being and advantages






34. Payment for insurance






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






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






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






38. Electronic Funds Transfer






39. 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.






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






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






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






43. Arrangement for deferred payment for goods and services






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






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






46. Certificates that represent money the government has borrowed from private citizens






47. The co-option of another person's personal information (e.g. - name - social security number - credit card number - passport) without that person's knowledge and the fraudulent use of such knowledge






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






49. Someone who has insufficient assets to cover their debts






50. Something of value; a resource; an advantage







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Can you answer 50 questions in 15 minutes?


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