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






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






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






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






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






6. A loan where the payment is acheived through interest






7. A debt; something disadvantageous






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






9. A share set aside for a specific purpose






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






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






12. Someone who has insufficient assets to cover their debts






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






14. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






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






16. 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.






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






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






19. Whatever must be given up to obtain some item






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






21. Anything that is used to produce goods or services






22. 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.






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






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






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






26. The shares available to sell/buy






27. The maximum credit that a customer is allowed






28. Something that is made open or revealed






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






30. Loan where the lender goes through the borrower






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






32. All costs or bills related to the business






33. Production of a certain amount






34. The shares available to sell/buy






35. 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.






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






37. Income before taxes






38. The rights of an individual to own - use - rent - invest in - buy - and sell property.






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






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






41. All costs or bills related to the business






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






43. Arrangement for deferred payment for goods and services






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






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






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






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






48. 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






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






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