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. The maximum credit that a customer is allowed






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






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






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






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






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






8. The distribution of investment funds among broad classes of assets.






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






10. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






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






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






13. 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






14. Making money for owning something






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






16. An obligation to pay money to another party






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






18. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






19. Give back (tax return)






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






21. 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.






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






23. A general and progressive increase in prices






24. Maintain by writing regular records






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






26. 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.






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






28. Protection against future loss






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






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






31. Money paid to a worker






32. Place to create a savings account.






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






34. 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.






35. Limited quantities of resources to meet unlimited wants






36. Production of a certain amount






37. The percentage of a sum of money charged for its use






38. A payment given as a guarantee that an obligation will be met






39. Receiving money for loaning money






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






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






42. Give back (tax return)






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






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






45. Making money for owning something






46. An exchange that occurs as a compromise






47. The process of making a decision - usually complex






48. Something that is made open or revealed






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






50. The maximum credit that a customer is allowed