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






2. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






3. An accounting entry acknowledging sums that are owing






4. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






5. 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






6. Someone who has insufficient assets to cover their debts






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






8. The maximum credit that a customer is allowed






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






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






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






12. Give back (tax return)






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






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






15. A trust taking effect during the lifetime of a trustor. Also called an inter vivos trust.






16. Stock other than preferred stock






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






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






19. Any of a number of fraudulent - deceptive - discriminatory - or unfavorable lending practices. Many of these practices are illegal - while others are legal but not in the best interest of the borrowers.






20. The time interval between the deposit of a check in a bank and its payment






21. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






22. 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






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






24. Payment for insurance






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






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






27. A loan where the payment is acheived through interest






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






29. Total assets minus total liabilities






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






31. 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.






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






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






34. Making money for owning something






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






36. Protection against future loss






37. Profits paid to investors






38. Maintain by writing regular records






39. 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.






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






41. The process of making a decision - usually complex






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






43. An obligation to pay money to another party






44. 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.






45. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






46. The maximum credit that a customer is allowed






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






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






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






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