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






2. A loan in which the rate can be altered to adjust to economical need






3. Arrangement for deferred payment for goods and services






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






5. Making money for owning something






6. Things that incite or spur to action; rewards or reasons for performing a task.






7. Can be found in a newspaper and shows information about popular stocks.






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






9. 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






10. A general and progressive increase in prices






11. Profits paid to investors






12. The period covered by a salary payment






13. The interest rate that a bond issuer will pay to a bondholder






14. An accounting entry acknowledging income or capital items






15. An exchange that occurs as a compromise






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






17. 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






18. 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






19. A fixed charge for borrowing money






20. Bring into consonance or accord - to agree on terms






21. Income on which tax must be paid; total income minus exemptions and deductions






22. Stock other than preferred stock






23. Income on which tax must be paid; total income minus exemptions and deductions






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






25. Compute credits and debits of an account






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






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






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






29. A general and progressive increase in prices






30. 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.






31. The standard IRS form for individual tax returns.






32. The money paid for employee services






33. 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






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






35. 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.






36. A debt; something disadvantageous






37. Can be found in a newspaper and shows information about popular stocks.






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






39. 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.






40. Maintain by writing regular records






41. 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.






42. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






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






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






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






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






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






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






49. Stock other than preferred stock






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