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






2. An act of economizing






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






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






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






6. The amount of tax owed






7. Place to create a savings account.






8. 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.






9. Limited quantities of resources to meet unlimited wants






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






11. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






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






13. Compute credits and debits of an account






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






15. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






16. Income before taxes






17. 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.






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






19. A regular payment to a person that iis intended to allow them to subsist without working






20. The shares available to sell/buy






21. Maintain by writing regular records






22. A loan where the payment is acheived through interest






23. 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






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






25. Can be found in a newspaper and shows information about popular stocks.






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






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






28. Limited quantities of resources to meet unlimited wants






29. Someone who has insufficient assets to cover their debts






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






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






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






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






34. Interest calculated on both the principal and the accrued interest






35. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






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






37. The recipient of funds or other benefits






38. Stock other than preferred stock






39. A fixed charge for borrowing money






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






41. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






42. An exchange that occurs as a compromise






43. Whatever must be given up to obtain some item






44. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






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






46. Give back (tax return)






47. A penalty for making a payment after the due date






48. 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.






49. 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






50. The act of reducing the selling price of merchandise