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 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.






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






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






4. The amount of tax owed






5. The apparent worth as opposed to the real worth






6. Protection against future loss






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






8. 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






9. Loan where the lender goes through the borrower






10. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






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






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






13. An act of economizing






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






15. 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.






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






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






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






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






20. Receiving money for loaning money






21. Electronic Funds Transfer






22. Money paid to a worker






23. The maximum credit that a customer is allowed






24. A bank account that accumulates interest






25. Compute credits and debits of an account






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






27. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






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






29. 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.






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






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






32. All costs or bills related to the business






33. Something that is made open or revealed






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






35. A general and progressive increase in prices






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






37. A loan where the payment is acheived through interest






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






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






40. A share set aside for a specific purpose






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






42. Anything that is used to produce goods or services






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






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






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






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






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






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






49. The standard IRS form for individual tax returns.






50. Place to create a savings account.