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. Payment for insurance






2. Arrangement for deferred payment for goods and services






3. The amount accruing to the corporations owners


4. The money(usually a set amount) given to an individual to spend






5. An obligation to pay money to another party






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






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






8. A share set aside for a specific purpose






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






10. The extent to which something is covered






11. A yearly statement of the financial condition - progress - and expectations of an organization






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






13. Maintain by writing regular records






14. The maximum credit that a customer is allowed






15. Loan deal in which the actual lender may not be known to the borrower.






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






17. 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.






18. All costs or bills related to the business






19. The shares available to sell/buy






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






21. The shares available to sell/buy






22. Compute credits and debits of an account






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






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






25. The financial gain (earned or unearned) accruing over a given period of time






26. An accounting entry acknowledging income or capital items






27. A bond with zero discounts






28. The period covered by a salary payment






29. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






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






31. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.






32. A share set aside for a specific purpose






33. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






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






35. Savings account that pays market rate or better interest and allows access to funds without penalty.






36. A penalty for making a payment after the due date






37. 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






38. Protection against future loss






39. Money paid to a worker






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






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






42. The process of making a decision - usually complex






43. A specific plan for spending your income






44. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






45. The standard IRS form for individual tax returns.






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






47. 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






48. Something of value; a resource; an advantage






49. The act of taking out money or other capital






50. A debt; something disadvantageous