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 money paid for employee services






2. 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.






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






4. The act of reducing the selling price of merchandise






5. Anything that is used to produce goods or services






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






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






8. The amount accruing to the corporations owners

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9. Money paid to a worker






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






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






12. Something that is made open or revealed






13. 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.






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






15. Give back (tax return)






16. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






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






18. An accounting entry acknowledging income or capital items






19. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






20. All costs or bills related to the business






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






22. A bank account that accumulates interest






23. Having honest intentions






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






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






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






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






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






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






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






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






32. A penalty for making a payment after the due date






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






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






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






36. 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.






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






38. The time interval between the deposit of a check in a bank and its payment






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






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






41. 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






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






43. 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.






44. A bond with zero discounts






45. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






46. Making money for owning something






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






48. Limited quantities of resources to meet unlimited wants






49. The economical needs of an individual






50. Someone who has insufficient assets to cover their debts