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






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






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






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






5. The shares available to sell/buy






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






7. The commercial activity of transporting and selling goods from a producer to a consumer






8. Having honest intentions






9. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






10. The maximum credit that a customer is allowed






11. Whatever must be given up to obtain some item






12. Protection against future loss






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






14. An amount that credit card companies can charge for the use of a credit card.






15. Total assets minus total liabilities






16. 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






17. All costs or bills related to the business






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






19. Someone who lends money at excessive rates of interest






20. The period covered by a salary payment






21. Arrangement for deferred payment for goods and services






22. The act of taking out money or other capital






23. Business organizations that accommodate the buying and selling of securities.






24. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






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






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






27. Compute credits and debits of an account






28. The amount accruing to the corporations owners

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29. The value of a security that is set by the company issuing it






30. 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.






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






32. By planning ahead you can ensure financial stability during your retirement.






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






34. A bond with zero discounts






35. 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.






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






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






38. Profits paid to investors






39. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






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






41. The recipient of funds or other benefits






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






43. A bank account that accumulates interest






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






45. Give back (tax return)






46. Place to create a savings account.






47. Total assets minus total liabilities






48. Give back (tax return)






49. Limited quantities of resources to meet unlimited wants






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