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






2. Arrangement for deferred payment for goods and services






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






4. Someone who lends money at excessive rates of interest






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






6. 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






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






8. The act of reducing the selling price of merchandise






9. Production of a certain amount






10. A periodic statement prepared by a bank for each client






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






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






13. Production of a certain amount






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






15. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






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






17. The amount accruing to the corporations owners

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18. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.






19. 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.






20. The shares available to sell/buy






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






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






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






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






25. A fixed charge for borrowing money






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






27. Bring into consonance or accord - to agree on terms






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






29. Limited quantities of resources to meet unlimited wants






30. A periodic statement prepared by a bank for each client






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






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






33. Compute credits and debits of an account






34. The amount of tax owed






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






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






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






38. A loan where the payment is acheived through interest






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






40. An obligation to pay money to another party






41. A long-term loan extended to someone who buys property






42. 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.






43. A penalty for making a payment after the due date






44. 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.






45. Loan where the lender goes through the borrower






46. The act of reducing the selling price of merchandise






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






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






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






50. A bond with zero discounts