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. The shares available to sell/buy






3. Place to create a savings account.






4. Loan where the lender goes through the borrower






5. 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






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






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






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






9. Protection against future loss






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






11. A business activity that changes assets - liabilities - or owner's equity






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






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






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






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






16. 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






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






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






19. A bond with zero discounts






20. Shares of ownership in a company






21. An accounting entry acknowledging income or capital items






22. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






23. Electronic Funds Transfer






24. Production of a certain amount






25. Maintain by writing regular records






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






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






28. The amount of tax owed






29. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






30. Production of a certain amount






31. The act of taking out money or other capital






32. 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






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






34. The standard IRS form for individual tax returns.






35. Total assets minus total liabilities






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






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






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






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






40. A business activity that changes assets - liabilities - or owner's equity






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






42. An act of economizing






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






44. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






45. A general and progressive increase in prices






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






47. Making money for owning something






48. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






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






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