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 guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






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






3. The maximum credit that a customer is allowed






4. The extent to which something is covered






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






6. An obligation to pay money to another party






7. 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.






8. A business activity that changes assets - liabilities - or owner's equity






9. An accounting entry acknowledging sums that are owing






10. Compute credits and debits of an account






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






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






13. The standard IRS form for individual tax returns.






14. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation






15. The distribution of investment funds among broad classes of assets.






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






17. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






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






19. The standard IRS form for individual tax returns.






20. 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.






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






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






23. The recipient of funds or other benefits






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






25. Having honest intentions






26. The act of taking out money or other capital






27. An accounting entry acknowledging income or capital items






28. Electronic Funds Transfer






29. A specific plan for spending your income






30. The period covered by a salary payment






31. The shares available to sell/buy






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






33. Maintain by writing regular records






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






35. 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






36. The economical needs of an individual






37. An institution that issues something (securities or publications or currency etc.)






38. A fixed charge for borrowing money






39. A loan where the payment is acheived through interest






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






41. The process of making a decision - usually complex






42. An amount that credit card companies can charge for the use of a credit card.






43. The extent to which something is covered






44. A delay in enforcing rights or claims or privileges






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






46. Items of personal interest to collectors that can increase in value in the future






47. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






48. A record of checks written and deposits made in a checking account - kept by the depositor






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






50. Profits paid to investors