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. Receiving money for loaning money






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






3. Limited quantities of resources to meet unlimited wants






4. An accounting entry acknowledging income or capital items






5. The recipient of funds or other benefits






6. A debt; something disadvantageous






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






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






9. Income before taxes






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






11. All costs or bills related to the business






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






13. A delay in enforcing rights or claims or privileges






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






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






16. 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






17. Place to create a savings account.






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






19. An accounting entry acknowledging sums that are owing






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






21. The amount of tax owed






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






23. Someone who has insufficient assets to cover their debts






24. 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






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






26. Business organizations that accommodate the buying and selling of securities.






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






28. Whatever must be given up to obtain some item






29. A general and progressive increase in prices






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






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






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






33. Anything that is used to produce goods or services






34. The act of reducing the selling price of merchandise






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






36. 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.






37. Financial reports that summarize the financial condition and operations of a business






38. The period covered by a salary payment






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






40. A financial statement that gives operating results for a specific period






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






42. Financial reports that summarize the financial condition and operations of a business






43. 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.






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






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






46. An accounting entry acknowledging sums that are owing






47. The economical needs of an individual






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






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






50. Profits paid to investors