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. 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






2. The economical needs of an individual






3. A loan in which the rate can be altered to adjust to economical need






4. Loan where the lender goes through the borrower






5. The period covered by a salary payment






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






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






8. All costs or bills related to the business






9. A debt; something disadvantageous






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






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






12. A bank account that accumulates interest






13. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






14. A specific plan for spending your income






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






16. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






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






18. 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.






19. An accounting entry acknowledging sums that are owing






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






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






22. Stock other than preferred stock






23. A yearly statement of the financial condition - progress - and expectations of an organization






24. An institution that issues something (securities or publications or currency etc.)






25. Prompt payment for goods or services in currency or by check






26. 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






27. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






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






29. The maximum credit that a customer is allowed






30. Prompt payment for goods or services in currency or by check






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






32. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






33. The amount of tax owed






34. The rights of an individual to own - use - rent - invest in - buy - and sell property.






35. Someone who has insufficient assets to cover their debts






36. A specific plan for spending your income






37. A fixed charge for borrowing money






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






39. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






40. The sum of current - fixed and intangible assets - which represents everything of value that is owned by the company






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






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






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






44. Maintain by writing regular records






45. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






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






47. 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.






48. Place to create a savings account.






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






50. 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.