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. 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.






2. Shares of ownership in a company






3. Loan where the lender goes through the borrower






4. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






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






6. Someone who has insufficient assets to cover their debts






7. An exchange that occurs as a compromise






8. Payment for insurance






9. The recipient of funds or other benefits






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






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






12. An accounting entry acknowledging income or capital items






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






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






15. Protection against future loss






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






17. The apparent worth as opposed to the real worth






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






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






20. A share set aside for a specific purpose






21. A fixed charge for borrowing money






22. The act of reducing the selling price of merchandise






23. Someone who has insufficient assets to cover their debts






24. The shares available to sell/buy






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






26. 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






27. Income before taxes






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






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






30. Having honest intentions






31. Something of value; a resource; an advantage






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






33. A fixed charge for borrowing money






34. The economical needs of an individual






35. Receiving money for loaning money






36. 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.






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






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






39. Anything that is used to produce goods or services






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






41. Limited quantities of resources to meet unlimited wants






42. The act of taking out money or other capital






43. An act of economizing






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






45. The extent to which something is covered






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






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






48. The maximum credit that a customer is allowed






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






50. Compute credits and debits of an account