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 maximum credit that a customer is allowed






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






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






4. The act of reducing the selling price of merchandise






5. Interest calculated on both the principal and the accrued interest






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






7. 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.






8. A debt; something disadvantageous






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






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






11. The act of reducing the selling price of merchandise






12. A share set aside for a specific purpose






13. Anything that is used to produce goods or services






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






15. Concern for ones own well being and advantages






16. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






17. 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.






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






19. Protection against future loss






20. Production of a certain amount






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






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






23. Income before taxes






24. 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






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






26. The amount accruing to the corporations owners

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






28. A specific plan for spending your income






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






30. Electronic Funds Transfer






31. Interest calculated on both the principal and the accrued interest






32. 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






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






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






35. The standard IRS form for individual tax returns.






36. The period covered by a salary payment






37. Compute credits and debits of an account






38. Can be found in a newspaper and shows information about popular stocks.






39. The maximum credit that a customer is allowed






40. Compute credits and debits of an account






41. The distribution of investment funds among broad classes of assets.






42. A delay in enforcing rights or claims or privileges






43. Protection against future loss






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






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






46. The financial gain (earned or unearned) accruing over a given period of time






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






48. The shares available to sell/buy






49. The interest rate that a bond issuer will pay to a bondholder






50. Someone who has insufficient assets to cover their debts