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






2. A delay in enforcing rights or claims or privileges






3. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






4. Making money for owning something






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






6. Give back (tax return)






7. Something that is made open or revealed






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






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






10. Having honest intentions






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






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






13. The shares available to sell/buy






14. A bond with zero discounts






15. 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






16. Give back (tax return)






17. 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.






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






19. A share set aside for a specific purpose






20. 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






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






22. Production of a certain amount






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






24. Someone who has insufficient assets to cover their debts






25. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.






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






27. An automatic loan made to you if you write a check for more money than you have in your account






28. 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.






29. A loan where the payment is acheived through interest






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






31. Protection against future loss






32. An automatic loan made to you if you write a check for more money than you have in your account






33. 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






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






35. Arrangement for deferred payment for goods and services






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






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






38. The standard IRS form for individual tax returns.






39. Total assets minus total liabilities






40. Anything that is used to produce goods or services






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






42. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






43. Money paid to a worker






44. 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






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






46. Limited quantities of resources to meet unlimited wants






47. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






48. Payment for insurance






49. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






50. A general and progressive increase in prices