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 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






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






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






4. 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






5. A general and progressive increase in prices






6. Compute credits and debits of an account






7. 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






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






9. A loan where the payment is acheived through interest






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






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






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






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






14. The standard IRS form for individual tax returns.






15. The act of reducing the selling price of merchandise






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






17. Arrangement for deferred payment for goods and services






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






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






20. A payment given as a guarantee that an obligation will be met






21. The amount of tax owed






22. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






23. Receiving money for loaning money






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






25. A delay in enforcing rights or claims or privileges






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






27. The amount of tax owed






28. 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.






29. The process of managing one's assets and wealth






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






31. 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






32. The money paid for employee services






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






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






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






36. The process of making a decision - usually complex






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






38. Arrangement for deferred payment for goods and services






39. Income before taxes






40. Place to create a savings account.






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






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






43. Limited quantities of resources to meet unlimited wants






44. The recipient of funds or other benefits






45. The extent to which something is covered






46. A bank account that accumulates interest






47. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






48. Electronic Funds Transfer






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






50. An act of economizing