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. An act of economizing






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






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






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






5. Income before taxes






6. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.






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






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






9. The period covered by a salary payment






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






11. Someone who has insufficient assets to cover their debts






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






13. Stock other than preferred stock






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






15. The act of reducing the selling price of merchandise






16. Loan where the lender goes through the borrower






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






18. 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.






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






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






21. 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.






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






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






24. Income before taxes






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






26. A bank account that accumulates interest






27. 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.






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






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






30. Shares of ownership in a company






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






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






33. Protection against future loss






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






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






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






38. Maintain by writing regular records






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






40. The shares available to sell/buy






41. The maximum credit that a customer is allowed






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






43. Profits paid to investors






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






45. The outcome of an event especially as relative to an individual






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






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






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






49. Compute credits and debits of an account






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