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. Protection against future loss






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






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






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






5. 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






6. Limited quantities of resources to meet unlimited wants






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






8. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






9. Funds that are often times traded through a stock exchange (NYSE)






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






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






12. Income before taxes






13. Stock other than preferred stock






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






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






16. Something of value; a resource; an advantage






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






18. A specific plan for spending your income






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






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






21. The maximum credit that a customer is allowed






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






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






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






25. The recipient of funds or other benefits






26. A share set aside for a specific purpose






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






28. Payment for insurance






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






30. A debt; something disadvantageous






31. The economical needs of an individual






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






33. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






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






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






36. An accounting entry acknowledging income or capital items






37. Making money for owning something






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






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






40. The act of taking out money or other capital






41. 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






42. A payment given as a guarantee that an obligation will be met






43. The period covered by a salary payment






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






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






46. 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.






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






48. A bank account that accumulates interest






49. 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






50. Receiving money for loaning money