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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. The rights of an individual to own - use - rent - invest in - buy - and sell property.






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






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






4. The process of making a decision - usually complex






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






6. 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






7. Give back (tax return)






8. Limited quantities of resources to meet unlimited wants






9. A bond with zero discounts






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






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






12. A business activity that changes assets - liabilities - or owner's equity






13. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






14. A specific plan for spending your income






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






16. 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






17. Receiving money for loaning money






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






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






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






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






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






23. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






24. Loan deal in which the actual lender may not be known to the borrower.






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






26. Income before taxes






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






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






29. The maximum credit that a customer is allowed






30. Making money for owning something






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






32. An accounting entry acknowledging sums that are owing






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






34. Arrangement for deferred payment for goods and services






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






36. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






38. A legal document declaring a person's wishes regarding the disposal of their property when they die






39. Loan deal in which the actual lender may not be known to the borrower.






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






41. Payment for insurance






42. Payment for insurance






43. All costs or bills related to the business






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






45. 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.






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






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






48. Place to create a savings account.






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






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







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