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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 committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






2. Something that is made open or revealed






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






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






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






6. An obligation to pay money to another party






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






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






9. Having honest intentions






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






11. Is your gross income after certain reductions have been made






12. The act of reducing the selling price of merchandise






13. Anything that is used to produce goods or services






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






15. The extent to which something is covered






16. The distribution of investment funds among broad classes of assets.






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






18. 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.






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






20. Maintain by writing regular records






21. A business activity that changes assets - liabilities - or owner's equity






22. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






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






24. Place to create a savings account.






25. A specific plan for spending your income






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






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






28. 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






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






30. Electronic Funds Transfer






31. Compute credits and debits of an account






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






33. 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






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






35. Loan where the lender goes through the borrower






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






37. 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






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






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






40. Receiving money for loaning money






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






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






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






44. The process of making a decision - usually complex






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






46. Someone who has insufficient assets to cover their debts






47. An act of economizing






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






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






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







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