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. Receiving money for loaning money






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






3. Grant use or occupation of under a term of contract






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






5. Profits paid to investors






6. 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






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






8. The shares available to sell/buy






9. 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






10. The right to take another's property if an obligation is not discharged






11. Grant use or occupation of under a term of contract






12. All costs or bills related to the business






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






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






15. The amount of tax owed






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






17. The act of taking out money or other capital






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






19. Income before taxes






20. A debt; something disadvantageous






21. Compute credits and debits of an account






22. Income before taxes






23. The money paid for employee services






24. A venture undertaken without regard to possible loss or injury






25. Certificates that represent money the government has borrowed from private citizens






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






27. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






28. 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






29. Limited quantities of resources to meet unlimited wants






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






31. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






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






33. The maximum credit that a customer is allowed






34. The amount accruing to the corporations owners

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35. Someone who has insufficient assets to cover their debts






36. Compute credits and debits of an account






37. Concern for ones own well being and advantages






38. An obligation to pay money to another party






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






40. Give back (tax return)






41. An exchange that occurs as a compromise






42. An accounting entry acknowledging sums that are owing






43. Money paid to a worker






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






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






46. A bond with zero discounts






47. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






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






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






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