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






2. Having honest intentions






3. The maximum credit that a customer is allowed






4. The amount of money you would need to deposit now in order to attain a desired amount in the future






5. 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






6. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






8. The shares available to sell/buy






9. Something of value; a resource; an advantage






10. Loan deal in which the actual lender may not be known to the borrower.






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






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






13. Concern for ones own well being and advantages






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






15. A delay in enforcing rights or claims or privileges






16. A bond with zero discounts






17. Compute credits and debits of an account






18. A specific plan for spending your income






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






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






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






22. An act of economizing






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






24. A loan where the payment is acheived through interest






25. The period covered by a salary payment






26. The money paid for employee services






27. The process of making a decision - usually complex






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






29. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






30. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






31. Someone who has insufficient assets to cover their debts






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






33. Total assets minus total liabilities






34. Protection against future loss






35. Place to create a savings account.






36. 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






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






38. Having honest intentions






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






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






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






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






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






44. The act of taking out money or other capital






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






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






47. A debt; something disadvantageous






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






49. Money paid to a worker






50. Someone who lends money at excessive rates of interest