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






2. An obligation to pay money to another party






3. Compute credits and debits of an account






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






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






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






7. An accounting entry acknowledging income or capital items






8. The act of reducing the selling price of merchandise






9. Having honest intentions






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






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






12. Whatever must be given up to obtain some item






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






14. The amount of tax owed






15. A debt; something disadvantageous






16. 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






17. A loan where the payment is acheived through interest






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






19. 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






20. Stock other than preferred stock






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






22. The amount accruing to the corporations owners

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23. The date on which a financial obligation must be repaid






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






25. Give back (tax return)






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






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






28. Something that is made open or revealed






29. A business activity that changes assets - liabilities - or owner's equity






30. The act of lending money at an exorbitant rate of interest






31. 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.






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






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






34. 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






35. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






36. Something of value; a resource; an advantage






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






38. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






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






40. Concern for ones own well being and advantages






41. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation






42. 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.






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






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






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






46. A business activity that changes assets - liabilities - or owner's equity






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






48. Someone who lends money at excessive rates of interest






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






50. The rights of an individual to own - use - rent - invest in - buy - and sell property.