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






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






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






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






5. 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






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






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






8. 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






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






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






11. Having honest intentions






12. The shares available to sell/buy






13. Place to create a savings account.






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






15. Give back (tax return)






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






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






18. Making money for owning something






19. Institution that functions much like a business - but does not operate for the purpose of generating profits






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






21. Business organizations that accommodate the buying and selling of securities.






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






23. Total assets minus total liabilities






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






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






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






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






28. A bond with zero discounts






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






30. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






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






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






33. 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.






34. A person appointed by a testator to carry out the terms of the will






35. A fixed charge for borrowing money






36. The percentage of a sum of money charged for its use






37. The amount of tax owed






38. A debt; something disadvantageous






39. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation






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






41. 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.






42. 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.






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






44. Profits paid to investors






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






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






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






48. A general and progressive increase in prices






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






50. Funds that are often times traded through a stock exchange (NYSE)