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






2. Money paid to a worker






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






4. An obligation to pay money to another party






5. A record of checks written and deposits made in a checking account - kept by the depositor






6. The maximum credit that a customer is allowed






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






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






9. Making money for owning something






10. 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






11. Simplified IRS tax form which some individuals can file instead of the 1040 form.






12. By planning ahead you can ensure financial stability during your retirement.






13. A financial statement that gives operating results for a specific period






14. A person appointed by a testator to carry out the terms of the will






15. The commercial activity of transporting and selling goods from a producer to a consumer






16. Loan with equal number of payments of the same amount over a fixed period of time.






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






18. Arrangement for deferred payment for goods and services






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






20. A fixed charge for borrowing money






21. The recipient of funds or other benefits






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






23. Something that is made open or revealed






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






25. Certificates that represent money the government has borrowed from private citizens






26. Profits paid to investors






27. The act of taking out money or other capital






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






29. The act of reducing the selling price of merchandise






30. Loan where the lender goes through the borrower






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






32. Loan where the lender goes through the borrower






33. The shares available to sell/buy






34. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






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






36. Protection against future loss






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






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






39. 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






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






41. 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.






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






43. The amount accruing to the corporations owners


44. The process of making a decision - usually complex






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






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






47. A loan that is paid off in a fixed rate over a period of time






48. An act of economizing






49. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






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