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 sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






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






3. The recipient of funds or other benefits






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






5. Short-term and Long-term objectives that are driven by values.






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






7. Someone who lends money at excessive rates of interest






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






9. Interest calculated on both the principal and the accrued interest






10. 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.






11. Shares of ownership in a company






12. Maintain by writing regular records






13. 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






14. Someone who has insufficient assets to cover their debts






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






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






17. 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






18. An accounting entry acknowledging sums that are owing






19. A delay in enforcing rights or claims or privileges






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






21. 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.






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






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






24. Money paid to a worker






25. The apparent worth as opposed to the real worth






26. The amount of tax owed






27. Anything that is used to produce goods or services






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






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






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






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






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






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






34. A fixed charge for borrowing money






35. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






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






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






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






39. The date on which a financial obligation must be repaid






40. The money paid for employee services






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






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






43. The outcome of an event especially as relative to an individual






44. Compute credits and debits of an account






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






46. Total assets minus total liabilities






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






48. Arrangement for deferred payment for goods and services






49. Production of a certain amount






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