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






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






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






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






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






6. Total assets minus total liabilities






7. An act of economizing






8. An act of economizing






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






10. The standard IRS form for individual tax returns.






11. The outcome of an event especially as relative to an individual






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






13. Compute credits and debits of an account






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






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






16. The recipient of funds or other benefits






17. Arrangement for deferred payment for goods and services






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






19. The period covered by a salary payment






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






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






22. A share set aside for a specific purpose






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






24. Profits paid to investors






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






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






27. Someone who lends money at excessive rates of interest






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






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






30. An accounting entry acknowledging sums that are owing






31. A share set aside for a specific purpose






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






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






34. 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.






35. An obligation to pay money to another party






36. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






37. The act of taking out money or other capital






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






39. Production of a certain amount






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






41. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






42. Protection against future loss






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






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






45. The act of reducing the selling price of merchandise






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






47. 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.






48. Receiving money for loaning money






49. The process of making a decision - usually complex






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