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 standard IRS form for individual tax returns.






2. Place to create a savings account.






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






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






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






6. The outcome of an event especially as relative to an individual






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






8. The amount of tax owed






9. A general and progressive increase in prices






10. Limited quantities of resources to meet unlimited wants






11. Something that is made open or revealed






12. The process of making a decision - usually complex






13. Shares of ownership in a company






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






15. Limited quantities of resources to meet unlimited wants






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






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






18. The act of reducing the selling price of merchandise






19. A yearly statement of the financial condition - progress - and expectations of an organization






20. Receiving money for loaning money






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






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






23. Payment for insurance






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






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






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






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






28. 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.






29. Payment for insurance






30. A loan backed by something valuable - such as property






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






32. Something of value; a resource; an advantage






33. 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






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






35. Protection against future loss






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






37. 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






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






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






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






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






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






43. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






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






45. The extent to which something is covered






46. Arrangement for deferred payment for goods and services






47. An extra charge for various credit activities such as using an ATM or receiving a cash advance






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






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






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