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 fixed charge for borrowing money






2. 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






3. The process of making a decision - usually complex






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






5. An exchange that occurs as a compromise






6. An accounting entry acknowledging income or capital items






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






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






9. 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.






10. 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






11. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






12. A record of checks written and deposits made in a checking account - kept by the depositor






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






14. The date on which a financial obligation must be repaid






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






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






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






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






19. The extent to which something is covered






20. Something that is made open or revealed






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






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






23. The recipient of funds or other benefits






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






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






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






27. Give back (tax return)






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






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






30. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






31. The value of a security that is set by the company issuing it






32. Someone who has insufficient assets to cover their debts






33. Compute credits and debits of an account






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






35. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






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






38. 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






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






40. The co-option of another person's personal information (e.g. - name - social security number - credit card number - passport) without that person's knowledge and the fraudulent use of such knowledge






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






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






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






44. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






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






46. Payment for insurance






47. Shares of ownership in a company






48. The process of managing one's assets and wealth






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






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