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 process of making a decision - usually complex






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






3. Short-term and Long-term objectives that are driven by values.






4. Production of a certain amount






5. The money paid for employee services






6. 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.






7. 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.






8. An accounting entry acknowledging sums that are owing






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






10. 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.






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






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






13. All costs or bills related to the business






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






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






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






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






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






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






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






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






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






23. An institution that issues something (securities or publications or currency etc.)






24. 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






25. Something that is made open or revealed






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






27. Compute credits and debits of an account






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






29. Grant use or occupation of under a term of contract






30. The period covered by a salary payment






31. A bank account that accumulates interest






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






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






34. The co-option of another person's personal information (e.g. - name - social security number - credit card number - passport) without that person's knowledge and the fraudulent use of such knowledge






35. Making money for owning something






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






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






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






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






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






41. Whatever must be given up to obtain some item






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






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






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






45. The standard IRS form for individual tax returns.






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






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






48. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






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






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