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 penalty for making a payment after the due date






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






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






4. An act of economizing






5. Stock other than preferred stock






6. Production of a certain amount






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






8. 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






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






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






11. Place to create a savings account.






12. An exchange that occurs as a compromise






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






14. A legal document declaring a person's wishes regarding the disposal of their property when they die






15. 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






16. Loan with equal number of payments of the same amount over a fixed period of time.






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






18. Someone who has insufficient assets to cover their debts






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






20. Whatever must be given up to obtain some item






21. 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.






22. A legal document declaring a person's wishes regarding the disposal of their property when they die






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






24. Short-term and Long-term objectives that are driven by values.






25. The right to take another's property if an obligation is not discharged






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






27. The process of making a decision - usually complex






28. A record of checks written and deposits made in a checking account - kept by the depositor






29. Something of value; a resource; an advantage






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






31. 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.






32. Someone who has insufficient assets to cover their debts






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






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






35. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






36. The process of making a decision - usually complex






37. 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.






38. The shares available to sell/buy






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






40. Financial reports that summarize the financial condition and operations of a business






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






42. The apparent worth as opposed to the real worth






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






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






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






46. Income before taxes






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






48. 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






49. A bond with zero discounts






50. Someone who lends money at excessive rates of interest