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 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.






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






3. All costs or bills related to the business






4. Is your gross income after certain reductions have been made






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






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






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






8. The process of making a decision - usually complex






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






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






11. Shares of ownership in a company






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






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






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






15. An exchange that occurs as a compromise






16. A long-term loan extended to someone who buys property






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






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






19. Money paid to a worker






20. A general and progressive increase in prices






21. An accounting entry acknowledging income or capital items






22. 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.






23. 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.






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






25. 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






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






27. Loan with equal number of payments of the same amount over a fixed period of time.






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






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






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






31. 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.






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






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






34. A long-term loan extended to someone who buys property






35. All costs or bills related to the business






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






37. The recipient of funds or other benefits






38. The money paid for employee services






39. Someone who has insufficient assets to cover their debts






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






41. 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






42. The standard IRS form for individual tax returns.






43. 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






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






45. 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






46. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month






47. Profits paid to investors






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






49. Loan where the lender goes through the borrower






50. A financial statement that gives operating results for a specific period