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






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






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






5. All costs or bills related to the business






6. A general and progressive increase in prices






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






8. A loan that is paid off in a fixed rate over a period of time






9. A general and progressive increase in prices






10. The apparent worth as opposed to the real worth






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






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






13. The money paid for employee services






14. By planning ahead you can ensure financial stability during your retirement.






15. Loan where the lender goes through the borrower






16. Protection against future loss






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






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






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






20. The extent to which something is covered






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






22. Having honest intentions






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






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






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






26. A specific plan for spending your income






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






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






29. Receiving money for loaning money






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






31. 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






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






33. 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.






34. A delay in enforcing rights or claims or privileges






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






36. The date on which a financial obligation must be repaid






37. 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.






38. A specific plan for spending your income






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






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






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






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






43. Maintain by writing regular records






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






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






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






47. 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.






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






49. The act of reducing the selling price of merchandise






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