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. An act of economizing






2. Having honest intentions






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






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






5. Arrangement for deferred payment for goods and services






6. The extent to which something is covered






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






8. A general and progressive increase in prices






9. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.






10. Something of value; a resource; an advantage






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






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






13. 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






14. A bond with zero discounts






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






16. A venture undertaken without regard to possible loss or injury






17. Production of a certain amount






18. The period covered by a salary payment






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






20. The money paid for employee services






21. A general and progressive increase in prices






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






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






24. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






25. The apparent worth as opposed to the real worth






26. Give back (tax return)






27. Electronic Funds Transfer






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






29. 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






30. The shares available to sell/buy






31. The standard IRS form for individual tax returns.






32. An exchange that occurs as a compromise






33. The standard IRS form for individual tax returns.






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






35. Concern for ones own well being and advantages






36. The amount accruing to the corporations owners

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






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






39. Compute credits and debits of an account






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






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






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






43. Compute credits and debits of an account






44. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






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






46. A loan that is paid off in a fixed rate over a period of time






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






48. All costs or bills related to the business






49. Maintain by writing regular records






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