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






2. A delay in enforcing rights or claims or privileges






3. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






5. Compute credits and debits of an account






6. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






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






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






9. Arrangement for deferred payment for goods and services






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






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






12. The rights of an individual to own - use - rent - invest in - buy - and sell property.






13. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






14. 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.






15. Something of value; a resource; an advantage






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






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






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






19. A fixed charge for borrowing money






20. Income before taxes






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. Place to create a savings account.






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






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






25. Stock other than preferred stock






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






27. A delay in enforcing rights or claims or privileges






28. A bond with zero discounts






29. 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.






30. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






32. Maintain by writing regular records






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






34. The extent to which something is covered






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. The apparent worth as opposed to the real worth






37. 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






38. Compute credits and debits of an account






39. Something that is made open or revealed






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






41. The shares available to sell/buy






42. The process of making a decision - usually complex






43. An amount that credit card companies can charge for the use of a credit card.






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






45. Money paid to a worker






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






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






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






49. A specific plan for spending your income






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