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. Stock other than preferred stock






2. The process of making a decision - usually complex






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






4. 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.






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






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






7. Electronic Funds Transfer






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






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






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






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






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






13. Profits paid to investors






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






15. Concern for ones own well being and advantages






16. Money paid to a worker






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






18. A debt; something disadvantageous






19. Someone who lends money at excessive rates of interest






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






21. An exchange that occurs as a compromise






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






23. 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.






24. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






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






26. Income before taxes






27. 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






28. The standard IRS form for individual tax returns.






29. A legal document declaring a person's wishes regarding the disposal of their property when they die






30. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.






31. 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.






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






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






34. 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






35. All costs or bills related to the business






36. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers






37. Production of a certain amount






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






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






40. Certificates that represent money the government has borrowed from private citizens






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






42. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






43. Maintain by writing regular records






44. Whatever must be given up to obtain some item






45. 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






46. The amount of tax owed






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






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






49. The extent to which something is covered






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