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






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






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






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






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






6. Limited quantities of resources to meet unlimited wants






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






8. 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.






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






10. Preparing a plan for transferring property during one's lifetime and at one's death






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






12. Compute credits and debits of an account






13. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






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






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






16. An accounting entry acknowledging income or capital items






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






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






19. 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






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






21. Anything that is used to produce goods or services






22. Place to create a savings account.






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






24. The apparent worth as opposed to the real worth






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






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






27. Something that is made open or revealed






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






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






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






31. The financial gain (earned or unearned) accruing over a given period of time






32. Maintain by writing regular records






33. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






34. Shares of ownership in a company






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






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






37. The amount accruing to the corporations owners

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38. 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.






39. The standard IRS form for individual tax returns.






40. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






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






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






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






44. Profits paid to investors






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






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






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






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






49. Arrangement for deferred payment for goods and services






50. 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.