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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. Maintain by writing regular records






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






3. Protection against future loss






4. 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.






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






6. A person appointed by a testator to carry out the terms of the will






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






8. 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.






9. A specific plan for spending your income






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






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






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






13. Making money for owning something






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






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






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






17. Funds that pay part of their distributions out of principal cannibalize their assets. This depletes the fund's asset base. Funds cannibalize assets to maintain a dividend and keep shareholders happy. However - like feeding a cow its own milk - this p






18. The apparent worth as opposed to the real worth






19. Arrangement for deferred payment for goods and services






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






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






22. A loan where the payment is acheived through interest






23. A person appointed by a testator to carry out the terms of the will






24. Income on which tax must be paid; total income minus exemptions and deductions






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






26. An accounting entry acknowledging income or capital items






27. A debt; something disadvantageous






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






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






30. Income before taxes






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






32. A loan in which the rate can be altered to adjust to economical need






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






34. The act of reducing the selling price of merchandise






35. The act of taking out money or other capital






36. A general and progressive increase in prices






37. Total assets minus total liabilities






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






39. Production of a certain amount






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






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






42. Something that is made open or revealed






43. The money paid for employee services






44. Funds that pay part of their distributions out of principal cannibalize their assets. This depletes the fund's asset base. Funds cannibalize assets to maintain a dividend and keep shareholders happy. However - like feeding a cow its own milk - this p






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






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






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






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






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






50. An obligation to pay money to another party







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