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






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






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






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






5. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






6. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






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






9. A regular payment to a person that iis intended to allow them to subsist without working






10. Total assets minus total liabilities






11. An obligation to pay money to another party






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






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






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






15. 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






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






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






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






19. Production of a certain amount






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






21. The maximum credit that a customer is allowed






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






23. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






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






25. Payment for insurance






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






27. A general and progressive increase in prices






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






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






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






31. 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.






32. A delay in enforcing rights or claims or privileges






33. Money paid to a worker






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






35. Receiving money for loaning money






36. Compute credits and debits of an account






37. The amount of tax owed






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






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






40. An accounting entry acknowledging sums that are owing






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






42. A loan where the payment is acheived through interest






43. Concern for ones own well being and advantages






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. An accounting entry acknowledging income or capital items






46. The amount accruing to the corporations owners

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47. 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






48. Someone who lends money at excessive rates of interest






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






50. An act of economizing