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 amount of tax owed






2. Concern for ones own well being and advantages






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






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






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






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






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






8. 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.






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






10. Income before taxes






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






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






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






14. A bond with zero discounts






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






16. 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.






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






18. 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.






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






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






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






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






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






24. Income before taxes






25. The time interval between the deposit of a check in a bank and its payment






26. Something of value; a resource; an advantage






27. Limited quantities of resources to meet unlimited wants






28. Whatever must be given up to obtain some item






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






30. Having honest intentions






31. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






32. The act of reducing the selling price of merchandise






33. Protection against future loss






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






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






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






37. Electronic Funds Transfer






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






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






40. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






41. Compute credits and debits of an account






42. Stock other than preferred stock






43. Total assets minus total liabilities






44. A fixed charge for borrowing money






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






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






47. An accounting entry acknowledging income or capital items






48. The shares available to sell/buy






49. 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.






50. An obligation to pay money to another party