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 act of reducing the selling price of merchandise






2. Preparing a plan for transferring property during one's lifetime and at one's death






3. A debt; something disadvantageous






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






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






6. Maintain by writing regular records






7. Protection against future loss






8. Someone who has insufficient assets to cover their debts






9. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






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






11. Shares of ownership in a company






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






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






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






15. The act of taking out money or other capital






16. The economical needs of an individual






17. A bank account that accumulates interest






18. The financial gain (earned or unearned) accruing over a given period of time






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






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






21. Maintain by writing regular records






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






23. A bond with zero discounts






24. The act of taking out money or other capital






25. 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.






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






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






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






29. The financial gain (earned or unearned) accruing over a given period of time






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






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






32. An institution that issues something (securities or publications or currency etc.)






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






34. Arrangement for deferred payment for goods and services






35. A loan in which the rate can be altered to adjust to economical need






36. The recipient of funds or other benefits






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






38. 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.






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






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






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






42. Limited quantities of resources to meet unlimited wants






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






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






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






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






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






48. 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.






49. Making money for owning something






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