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






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






3. Someone who has insufficient assets to cover their debts






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






5. A bond with zero discounts






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






7. The extent to which something is covered






8. 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.






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






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






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






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






13. The money paid for employee services






14. The period covered by a salary payment






15. A bond with zero discounts






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






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






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






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






20. The act of reducing the selling price of merchandise






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






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






23. A general and progressive increase in prices






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






25. The standard IRS form for individual tax returns.






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






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






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






29. Making money for owning something






30. The apparent worth as opposed to the real worth






31. Interest calculated on both the principal and the accrued interest






32. Limited quantities of resources to meet unlimited wants






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






34. 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






35. A loan in which the rate can be altered to adjust to economical need






36. The maximum credit that a customer is allowed






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






38. 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






39. 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






40. The period covered by a salary payment






41. An accounting entry acknowledging sums that are owing






42. Electronic Funds Transfer






43. Stock other than preferred stock






44. The shares available to sell/buy






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






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






47. An obligation to pay money to another party






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






49. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






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