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






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






3. Limited quantities of resources to meet unlimited wants






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






5. 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.






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






7. Place to create a savings account.






8. Anything that is used to produce goods or services






9. All costs or bills related to the business






10. Savings account that pays market rate or better interest and allows access to funds without penalty.






11. A general and progressive increase in prices






12. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






13. The process of making a decision - usually complex






14. A delay in enforcing rights or claims or privileges






15. Money paid to a worker






16. 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






17. The money paid for employee services






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






19. An exchange that occurs as a compromise






20. 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.






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






22. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






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






24. The standard IRS form for individual tax returns.






25. Income before taxes






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






27. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






28. A specific plan for spending your income






29. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






30. An obligation to pay money to another party






31. Maintain by writing regular records






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






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






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






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






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






37. Shares of ownership in a company






38. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






39. Electronic Funds Transfer






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






41. Income before taxes






42. Concern for ones own well being and advantages






43. An obligation to pay money to another party






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






45. A general and progressive increase in prices






46. 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






47. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






48. Stock other than preferred stock






49. The interest rate that a bond issuer will pay to a bondholder






50. The apparent worth as opposed to the real worth







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