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. 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






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






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






4. A penalty for making a payment after the due date






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






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






7. 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






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






9. A delay in enforcing rights or claims or privileges






10. A bank account that accumulates interest






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






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






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






14. Loan where the lender goes through the borrower






15. Protection against future loss






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






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






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






19. Profits paid to investors






20. A general and progressive increase in prices






21. A debt; something disadvantageous






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






23. All costs or bills related to the business






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






25. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






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






27. The process of making a decision - usually complex






28. 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






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






30. Give back (tax return)






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






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






33. Concern for ones own well being and advantages






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






35. Items of personal interest to collectors that can increase in value in the future






36. The maximum credit that a customer is allowed






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






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






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






40. The apparent worth as opposed to the real worth






41. A business activity that changes assets - liabilities - or owner's equity






42. Diagnosis Codes (in CCB Popup if more then 5 codes)






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






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






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






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






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






48. 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






49. Total assets minus total liabilities






50. An exchange that occurs as a compromise