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. Interest calculated on both the principal and the accrued interest






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






3. An automatic loan made to you if you write a check for more money than you have in your account






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






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






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






7. Someone who lends money at excessive rates of interest






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






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






10. 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






11. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






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






13. An exchange that occurs as a compromise






14. 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.






15. Protection against future loss






16. The value of a security that is set by the company issuing it






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






18. An accounting entry acknowledging income or capital items






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






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






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






22. The standard IRS form for individual tax returns.






23. The percentage of a sum of money charged for its use






24. An obligation to pay money to another party






25. 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






26. The period covered by a salary payment






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






28. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






29. A debt; something disadvantageous






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






31. The economical needs of an individual






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






33. Limited quantities of resources to meet unlimited wants






34. An accounting entry acknowledging sums that are owing






35. The extent to which something is covered






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






37. An evaluation by a rating company of the probability that a particular bond issue will default






38. A periodic statement prepared by a bank for each client






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






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






41. Money paid to a worker






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






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






44. The apparent worth as opposed to the real worth






45. Anything that is used to produce goods or services






46. 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.






47. A specific plan for spending your income






48. Income before taxes






49. Give back (tax return)






50. Stock other than preferred stock