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. Arrangement for deferred payment for goods and services






2. Give back (tax return)






3. Income before taxes






4. 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






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






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






7. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






8. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






9. The amount of tax owed






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






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






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






13. The money paid for employee services






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






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






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






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






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






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






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






21. An obligation to pay money to another party






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






23. Funds that pay part of their distributions out of principal cannibalize their assets. This depletes the fund's asset base. Funds cannibalize assets to maintain a dividend and keep shareholders happy. However - like feeding a cow its own milk - this p






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






25. Loan deal in which the actual lender may not be known to the borrower.






26. The recipient of funds or other benefits






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






28. A debt; something disadvantageous






29. A general and progressive increase in prices






30. Production of a certain amount






31. The process of making a decision - usually complex






32. The standard IRS form for individual tax returns.






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






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






35. Something of value; a resource; an advantage






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






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






38. Things that incite or spur to action; rewards or reasons for performing a task.






39. The act of reducing the selling price of merchandise






40. Total assets minus total liabilities






41. Anything that is used to produce goods or services






42. A loan where the payment is acheived through interest






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






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






45. Preparing a plan for transferring property during one's lifetime and at one's death






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






47. Protection against future loss






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






49. Someone who lends money at excessive rates of interest






50. Things that incite or spur to action; rewards or reasons for performing a task.