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. Production of a certain amount






2. An accounting entry acknowledging income or capital items






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






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






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






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






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






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






9. 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






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






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






12. Someone who lends money at excessive rates of interest






13. A long-term loan extended to someone who buys property






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






15. Anything that is used to produce goods or services






16. Total assets minus total liabilities






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






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






19. A share set aside for a specific purpose






20. A general and progressive increase in prices






21. 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






22. The recipient of funds or other benefits






23. An exchange that occurs as a compromise






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






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






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






27. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






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






29. Stock other than preferred stock






30. Shares of ownership in a company






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






32. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






33. The apparent worth as opposed to the real worth






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






35. Protection against future loss






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






37. Loan where the lender goes through the borrower






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






39. 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






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






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






42. An obligation to pay money to another party






43. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those 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. Limited quantities of resources to meet unlimited wants






46. An act of economizing






47. A long-term loan extended to someone who buys property






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






49. A bank account that accumulates interest






50. An obligation to pay money to another party