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






2. The money paid for employee services






3. Maintain by writing regular records






4. A share set aside for a specific purpose






5. A loan where the payment is acheived through interest






6. 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.






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






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






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






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






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






12. All costs or bills related to the business






13. An exchange that occurs as a compromise






14. Protection against future loss






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






16. The process of making a decision - usually complex






17. 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






18. The money(usually a set amount) given to an individual to spend






19. 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






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






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






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






23. 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.






24. Money paid to a worker






25. A loan where the payment is acheived through interest






26. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






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






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






29. A debt; something disadvantageous






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






31. Making money for owning something






32. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.






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






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






35. A regular payment to a person that iis intended to allow them to subsist without working






36. 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






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






38. A regular payment to a person that iis intended to allow them to subsist without working






39. By planning ahead you can ensure financial stability during your retirement.






40. The amount accruing to the corporations owners


41. Is your gross income after certain reductions have been made






42. 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.






43. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






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






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






46. A fixed charge for borrowing money






47. The amount of tax owed






48. The amount accruing to the corporations owners


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






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