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 apparent worth as opposed to the real worth






2. The act of taking out money or other capital






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






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






5. An accounting entry acknowledging sums that are owing






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






7. Arrangement for deferred payment for goods and services






8. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






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






10. Give back (tax return)






11. Electronic Funds Transfer






12. A fixed charge for borrowing money






13. Give back (tax return)






14. Profits paid to investors






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






16. Someone who lends money at excessive rates of interest






17. Someone who has insufficient assets to cover their debts






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






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






20. The amount of tax owed






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






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






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






24. A general and progressive increase in prices






25. The distribution of investment funds among broad classes of assets.






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






27. An exchange that occurs as a compromise






28. An evaluation by a rating company of the probability that a particular bond issue will default






29. 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.






30. Maintain by writing regular records






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






32. A fixed charge for borrowing money






33. Income before taxes






34. 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






35. 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.






36. 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.






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






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






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






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






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






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






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






44. A bond with zero discounts






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






46. Place to create a savings account.






47. Money paid to a worker






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






49. A share set aside for a specific purpose






50. A specific plan for spending your income