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. Someone who has insufficient assets to cover their debts






2. The period covered by a salary payment






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






4. A loan where the payment is acheived through interest






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






6. A bank account that accumulates interest






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






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






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






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






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






12. Payment for insurance






13. Something that is made open or revealed






14. Having honest intentions






15. A loan that is paid off in a fixed rate over a period of time






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






17. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






18. An accounting entry acknowledging sums that are owing






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






20. The shares available to sell/buy






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






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






23. An accounting entry acknowledging income or capital items






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






25. Savings account that pays market rate or better interest and allows access to funds without penalty.






26. The act of reducing the selling price of merchandise






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






28. Receiving money for loaning money






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






30. The recipient of funds or other benefits






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






32. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






33. Income before taxes






34. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






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






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






37. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






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






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






40. 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.






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






42. A bond with zero discounts






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






44. The standard IRS form for individual tax returns.






45. The money(usually a set amount) given to an individual to spend






46. 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






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






48. Simplified IRS tax form which some individuals can file instead of the 1040 form.






49. Anything that is used to produce goods or services






50. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index