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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. Income on which tax must be paid; total income minus exemptions and deductions






2. Money paid to a worker






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






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






5. Stock other than preferred stock






6. An accounting entry acknowledging income or capital items






7. Receiving money for loaning money






8. A person appointed by a testator to carry out the terms of the will






9. An accounting entry acknowledging sums that are owing






10. Payment for insurance






11. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






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






13. The maximum credit that a customer is allowed






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






15. 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






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






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






18. 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






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






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






21. The economical needs of an individual






22. Total assets minus total liabilities






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






24. The standard IRS form for individual tax returns.






25. Place to create a savings account.






26. 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.






27. The amount of tax owed






28. A delay in enforcing rights or claims or privileges






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






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






31. Arrangement for deferred payment for goods and services






32. 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






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






34. The process of making a decision - usually complex






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






36. A loan that is paid off in a fixed rate over a period of time






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






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






39. Interest calculated on both the principal and the accrued interest






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






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






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






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






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






45. Total assets minus total liabilities






46. 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






47. 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.






48. 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.






49. The money paid for employee services






50. Profits paid to investors







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