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 process of managing one's assets and wealth






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






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






4. A loan in which the rate can be altered to adjust to economical need






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






6. 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






7. Whatever must be given up to obtain some item






8. An act of economizing






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






10. A loan that is paid off in a fixed rate over a period of time






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






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






13. Compute credits and debits of an account






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






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






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






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






18. A bank account that accumulates interest






19. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






20. Certificates that represent money the government has borrowed from private citizens






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






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






23. A loan where the payment is acheived through interest






24. The amount of tax owed






25. The amount of tax owed






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






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






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






29. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






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






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






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






33. Profits paid to investors






34. Someone who has insufficient assets to cover their debts






35. Someone who lends money at excessive rates of interest






36. 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






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






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






39. Having honest intentions






40. Diagnosis Codes (in CCB Popup if more then 5 codes)






41. A loan where the payment is acheived through interest






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






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






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






45. The right to take another's property if an obligation is not discharged






46. Total assets minus total liabilities






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






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






49. Protection against future loss






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