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






2. A debt; something disadvantageous






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






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






5. 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.






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






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






8. 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.






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






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






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






12. Someone who has insufficient assets to cover their debts






13. An obligation to pay money to another party






14. Something of value; a resource; an advantage






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






16. Prompt payment for goods or services in currency or by check






17. Maintain by writing regular records






18. A long-term loan extended to someone who buys property






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






20. An accounting entry acknowledging sums that are owing






21. A bank account that accumulates interest






22. Whatever must be given up to obtain some item






23. Making money for owning something






24. An act of economizing






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






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






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






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






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






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






31. A bond with zero discounts






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






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






34. Loan where the lender goes through the borrower






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






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






37. Stock other than preferred stock






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






39. Shares of ownership in a company






40. 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






41. A specific plan for spending your income






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






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






44. Total assets minus total liabilities






45. Prompt payment for goods or services in currency or by check






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






47. The period covered by a salary payment






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






49. A general and progressive increase in prices






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