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 penalty for making a payment after the due date






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






3. Someone who has insufficient assets to cover their debts






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






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






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






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 amount accruing to the corporations owners

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9. The amount accruing to the corporations owners

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10. The economical needs of an individual






11. 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.






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






13. Something of value; a resource; an advantage






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






15. Limited quantities of resources to meet unlimited wants






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






17. 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.






18. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






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






20. All costs or bills related to the business






21. 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






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






23. A debt not backed by specific property to satisfy the indebtedness in case of default.






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






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






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






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






28. Protection against future loss






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






30. 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






31. A general and progressive increase in prices






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






33. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






35. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






36. An accounting entry acknowledging sums that are owing






37. Having honest intentions






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






39. A loan where the payment is acheived through interest






40. Shares of ownership in a company






41. Production of a certain amount






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






43. The maximum credit that a customer is allowed






44. The extent to which something is covered






45. A bond with zero discounts






46. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






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






48. The apparent worth as opposed to the real worth






49. 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.






50. Money paid to a worker