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






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






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






4. The amount of money you would need to deposit now in order to attain a desired amount in the future






5. Limited quantities of resources to meet unlimited wants






6. An act of economizing






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






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






9. The financial gain (earned or unearned) accruing over a given period of time






10. A delay in enforcing rights or claims or privileges






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






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






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






14. The amount accruing to the corporations owners

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






16. Profits paid to investors






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






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






19. An accounting entry acknowledging income or capital items






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






21. Having honest intentions






22. Can be found in a newspaper and shows information about popular stocks.






23. Shares of ownership in a company






24. Protection against future loss






25. 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.






26. Can be found in a newspaper and shows information about popular stocks.






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






28. Production of a certain amount






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






30. 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.






31. 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.






32. Loan where the lender goes through the borrower






33. The extent to which something is covered






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






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






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






37. Concern for ones own well being and advantages






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






39. Arrangement for deferred payment for goods and services






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






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






42. 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






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






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






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






46. A loan where the payment is acheived through interest






47. A bank account that accumulates interest






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






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






50. All costs or bills related to the business