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






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






3. Funds that are often times traded through a stock exchange (NYSE)






4. The commercial activity of transporting and selling goods from a producer to a consumer






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






7. 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.






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






9. Payment for insurance






10. An exchange that occurs as a compromise






11. All costs or bills related to the business






12. An act of economizing






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






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






15. 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






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






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






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






19. Protection against future loss






20. An obligation to pay money to another party






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






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






23. Electronic Funds Transfer






24. Something of value; a resource; an advantage






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






26. Someone who has insufficient assets to cover their debts






27. An accounting entry acknowledging income or capital items






28. Something that is made open or revealed






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






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






31. Place to create a savings account.






32. The shares available to sell/buy






33. Production of a certain amount






34. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






35. 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.






36. The act of lending money at an exorbitant rate of interest






37. The amount of tax owed






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






39. Someone who lends money at excessive rates of interest






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






41. 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.






42. Someone who lends money at excessive rates of interest






43. 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.






44. Limited quantities of resources to meet unlimited wants






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






46. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






47. Bring into consonance or accord - to agree on terms






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






49. 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






50. Protection against future loss