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. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






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






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






4. The extent to which something is covered






5. A financial statement that gives operating results for a specific period






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






7. 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






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






9. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






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






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






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






13. 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






14. An accounting entry acknowledging income or capital items






15. The economical needs of an individual






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






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






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






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






20. Loan where the lender goes through the borrower






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






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






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






24. Total assets minus total liabilities






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






26. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






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






28. The recipient of funds or other benefits






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






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






31. A bank account that accumulates interest






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






33. 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






34. A legal document declaring a person's wishes regarding the disposal of their property when they die






35. All costs or bills related to the business






36. Give back (tax return)






37. Concern for ones own well being and advantages






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






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






40. The standard IRS form for individual tax returns.






41. Electronic Funds Transfer






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






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






44. Payment for insurance






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






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






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






48. 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






49. The amount of tax owed






50. 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.