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. The act of reducing the selling price of merchandise






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






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






4. A fixed charge for borrowing money






5. 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






6. Total assets minus total liabilities






7. 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.






8. Something of value; a resource; an advantage






9. The money(usually a set amount) given to an individual to spend






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






11. Money paid to a worker






12. The money(usually a set amount) given to an individual to spend






13. Someone who has insufficient assets to cover their debts






14. 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






15. Business organizations that accommodate the buying and selling of securities.






16. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






17. Someone who lends money at excessive rates of interest






18. Place to create a savings account.






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






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






21. The outcome of an event especially as relative to an individual






22. An accounting entry acknowledging income or capital items






23. An accounting entry acknowledging income or capital items






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






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






26. An obligation to pay money to another party






27. An exchange that occurs as a compromise






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






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






30. Limited quantities of resources to meet unlimited wants






31. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






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






33. 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.






34. Receiving money for loaning money






35. Loan where the lender goes through the borrower






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






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






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






39. The extent to which something is covered






40. Profits paid to investors






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






42. The shares available to sell/buy






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






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






45. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month






46. The apparent worth as opposed to the real worth






47. The process of making a decision - usually complex






48. An amount that credit card companies can charge for the use of a credit card.






49. 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.






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