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






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






3. A debt not backed by specific property to satisfy the indebtedness in case of default.






4. 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.






5. The amount accruing to the corporations owners

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6. Limited quantities of resources to meet unlimited wants






7. 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






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






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






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






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






12. The standard IRS form for individual tax returns.






13. Items of personal interest to collectors that can increase in value in the future






14. The extent to which something is covered






15. Shares of ownership in a company






16. A debt; something disadvantageous






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






18. Protection against future loss






19. Concern for ones own well being and advantages






20. The act of reducing the selling price of merchandise






21. The process of managing one's assets and wealth






22. An exchange that occurs as a compromise






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






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






25. The shares available to sell/buy






26. The shares available to sell/buy






27. 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






28. A legal document declaring a person's wishes regarding the disposal of their property when they die






29. 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






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






31. An accounting entry acknowledging sums that are owing






32. A record of checks written and deposits made in a checking account - kept by the depositor






33. Stock other than preferred stock






34. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






35. The process of managing one's assets and wealth






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






37. All costs or bills related to the business






38. Diagnosis Codes (in CCB Popup if more then 5 codes)






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






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






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






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






43. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






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






45. Money paid to a worker






46. Anything that is used to produce goods or services






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






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






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






50. A loan where the payment is acheived through interest