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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. 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






2. Loan where the lender goes through the borrower






3. The money paid for employee services






4. The economical needs of an individual






5. All costs or bills related to the business






6. Arrangement for deferred payment for goods and services






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






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






9. A fixed charge for borrowing money






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






11. An accounting entry acknowledging income or capital items






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






13. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






14. 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






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






16. An accounting entry acknowledging sums that are owing






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






18. 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.






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






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






21. Limited quantities of resources to meet unlimited wants






22. 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






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






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






25. 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






26. Grant use or occupation of under a term of contract






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






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






29. The amount accruing to the corporations owners

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30. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






31. Stock other than preferred stock






32. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






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






34. A loan where the payment is acheived through interest






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






36. The apparent worth as opposed to the real worth






37. An obligation to pay money to another party






38. Maintain by writing regular records






39. Stock other than preferred stock






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






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






42. Making money for owning something






43. The maximum credit that a customer is allowed






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






45. The commercial activity of transporting and selling goods from a producer to a consumer






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






47. The act of taking out money or other capital






48. 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.






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






50. Anything that is used to produce goods or services







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