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






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






3. Having honest intentions






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






5. Give back (tax return)






6. The shares available to sell/buy






7. 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






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






9. The extent to which something is covered






10. Someone who has insufficient assets to cover their debts






11. A bond with zero discounts






12. Compute credits and debits of an account






13. Money paid to a worker






14. The amount of tax owed






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






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






17. Funds that are often times traded through a stock exchange (NYSE)






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






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






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






21. A general and progressive increase in prices






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






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






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






25. Anything that is used to produce goods or services






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






27. The period covered by a salary payment






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






29. Making money for owning something






30. Maintain by writing regular records






31. A fixed charge for borrowing money






32. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






33. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






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






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






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






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






38. Institution that functions much like a business - but does not operate for the purpose of generating profits






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






40. Protection against future loss






41. Can be found in a newspaper and shows information about popular stocks.






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






43. Something that is made open or revealed






44. 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






45. Production of a certain amount






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






47. The process of making a decision - usually complex






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






49. The act of reducing the selling price of merchandise






50. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.