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 lends money at excessive rates of interest






2. Limited quantities of resources to meet unlimited wants






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






4. All costs or bills related to the business






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






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






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






8. The right to take another's property if an obligation is not discharged






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






10. The economical needs of an individual






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






12. Income before taxes






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






14. 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.






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






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






17. 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






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






19. The extent to which something is covered






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






21. Stock other than preferred stock






22. A record of checks written and deposits made in a checking account - kept by the depositor






23. Protection against future loss






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






25. An obligation to pay money to another party






26. The process of making a decision - usually complex






27. Shares of ownership in a company






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






29. The maximum credit that a customer is allowed






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






31. Electronic Funds Transfer






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






33. A fixed charge for borrowing money






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






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






36. An extra charge for various credit activities such as using an ATM or receiving a cash advance






37. 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.






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






39. 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.






40. 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.






41. A bank account that accumulates interest






42. Having honest intentions






43. All costs or bills related to the business






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






45. 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






46. A bond with zero discounts






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






48. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






49. Something that is made open or revealed






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