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. 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






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






3. The extent to which something is covered






4. A delay in enforcing rights or claims or privileges






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






6. Electronic Funds Transfer






7. The economical needs of an individual






8. The act of reducing the selling price of merchandise






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






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






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






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






13. The act of reducing the selling price of merchandise






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






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






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






17. Limited quantities of resources to meet unlimited wants






18. An accounting entry acknowledging sums that are owing






19. Protection against future loss






20. 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.






21. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






22. Compute credits and debits of an account






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






24. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure






25. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






26. Something that is made open or revealed






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






28. A fixed charge for borrowing money






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






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






31. A specific plan for spending your income






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






33. Institution that functions much like a business - but does not operate for the purpose of generating profits






34. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






35. Diagnosis Codes (in CCB Popup if more then 5 codes)






36. Concern for ones own well being and advantages






37. 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






38. A loan where the payment is acheived through interest






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






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






41. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






42. Payment for insurance






43. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






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






45. 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.






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






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






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






49. A share set aside for a specific purpose






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