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. Something that is made open or revealed






2. Stock other than preferred stock






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






4. 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






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






6. The apparent worth as opposed to the real worth






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






8. Someone who lends money at excessive rates of interest






9. Compute credits and debits of an account






10. Income before taxes






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






12. A debt; something disadvantageous






13. The amount accruing to the corporations owners

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14. A specific plan for spending your income






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






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






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






18. A bank account that accumulates interest






19. 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.






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






21. 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






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






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






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






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






26. A bond with zero discounts






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






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






29. 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






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






31. Give back (tax return)






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






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






34. 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






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






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






37. The maximum credit that a customer is allowed






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






39. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






40. The amount of tax owed






41. Institution that functions much like a business - but does not operate for the purpose of generating profits






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






43. Someone who lends money at excessive rates of interest






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






45. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






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






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






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






49. Something of value; a resource; an advantage






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