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. The standard IRS form for individual tax returns.






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






3. The economical needs of an individual






4. Receiving money for loaning money






5. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






6. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






7. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






8. Limited quantities of resources to meet unlimited wants






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






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






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






12. The shares available to sell/buy






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






14. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






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






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






17. 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.






18. The period covered by a salary payment






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






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






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






22. Business organizations that accommodate the buying and selling of securities.






23. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






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






25. The act of taking out money or other capital






26. 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.






27. A regular payment to a person that iis intended to allow them to subsist without working






28. An extra charge for various credit activities such as using an ATM or receiving a cash advance






29. Profits paid to investors






30. A bank account that accumulates interest






31. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






32. A fixed charge for borrowing money






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






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






35. The standard IRS form for individual tax returns.






36. Maintain by writing regular records






37. The amount of tax owed






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






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






40. A delay in enforcing rights or claims or privileges






41. A loan where the payment is acheived through interest






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






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






44. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






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






46. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






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






48. A debt; something disadvantageous






49. A general and progressive increase in prices






50. Loan where the lender goes through the borrower