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. Someone who has insufficient assets to cover their debts






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






3. The standard IRS form for individual tax returns.






4. Diagnosis Codes (in CCB Popup if more then 5 codes)






5. 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






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






7. Give back (tax return)






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






9. Protection against future loss






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






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






12. A debt; something disadvantageous






13. 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






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






15. All costs or bills related to the business






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






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






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






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






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






21. 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.






22. Arrangement for deferred payment for goods and services






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






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






25. The act of taking out money or other capital






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






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






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






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






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






31. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






32. 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






33. Electronic Funds Transfer






34. An accounting entry acknowledging income or capital items






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






36. 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.






37. Concern for ones own well being and advantages






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






39. A share set aside for a specific purpose






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






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






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






43. Items of personal interest to collectors that can increase in value in the future






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






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






46. The maximum credit that a customer is allowed






47. The economical needs of an individual






48. Interest calculated on both the principal and the accrued interest






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






50. The date on which a financial obligation must be repaid