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. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






3. An accounting entry acknowledging sums that are owing






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






5. A share set aside for a specific purpose






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






7. An act of economizing






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






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






10. Whatever must be given up to obtain some item






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






12. Income before taxes






13. A loan in which the rate can be altered to adjust to economical need






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






15. 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.






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






17. The distribution of investment funds among broad classes of assets.






18. Income before taxes






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






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






21. Total assets minus total liabilities






22. The standard IRS form for individual tax returns.






23. A general and progressive increase in prices






24. The amount of tax owed






25. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






26. Compute credits and debits of an account






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






28. Someone who has insufficient assets to cover their debts






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






30. Protection against future loss






31. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






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






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






34. Receiving money for loaning money






35. The process of making a decision - usually complex






36. The act of reducing the selling price of merchandise






37. Someone who lends money at excessive rates of interest






38. A bank account that accumulates interest






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






40. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






42. A bond with zero discounts






43. 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






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






45. 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.






46. The outcome of an event especially as relative to an individual






47. Making money for owning something






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






49. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






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