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 general and progressive increase in prices






2. Protection against future loss






3. An obligation to pay money to another party






4. Shares of ownership in a company






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






6. The standard IRS form for individual tax returns.






7. The extent to which something is covered






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






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






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






11. The value of a security that is set by the company issuing it






12. An evaluation by a rating company of the probability that a particular bond issue will default






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






14. Loan where the lender goes through the borrower






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






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






17. Limited quantities of resources to meet unlimited wants






18. Arrangement for deferred payment for goods and services






19. Receiving money for loaning money






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






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






22. 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






23. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






24. 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.






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






26. Compute credits and debits of an account






27. Someone who lends money at excessive rates of interest






28. All costs or bills related to the business






29. An obligation to pay money to another party






30. The shares available to sell/buy






31. The act of taking out money or other capital






32. 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.






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






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






35. Something of value; a resource; an advantage






36. A bank account that accumulates interest






37. The interest rate that a bond issuer will pay to a bondholder






38. A specific plan for spending your income






39. A bond with zero discounts






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






41. Someone who has insufficient assets to cover their debts






42. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






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






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






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






46. A share set aside for a specific purpose






47. Whatever must be given up to obtain some item






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






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






50. 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