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. 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






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






3. Concern for ones own well being and advantages






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






5. Payment for insurance






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






7. Income on which tax must be paid; total income minus exemptions and deductions






8. 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.






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






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






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






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






13. A general and progressive increase in prices






14. An accounting entry acknowledging income or capital items






15. Maintain by writing regular records






16. An exchange that occurs as a compromise






17. The amount of tax owed






18. The apparent worth as opposed to the real worth






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






20. 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






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






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






23. 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






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






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






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






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






28. Profits paid to investors






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






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






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






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






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






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






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






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






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






38. 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






39. An exchange that occurs as a compromise






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






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






42. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.






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






44. 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






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






46. The process of making a decision - usually complex






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. The act of reducing the selling price of merchandise






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