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






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






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






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






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






6. Stock other than preferred stock






7. A specific plan for spending your income






8. Place to create a savings account.






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






10. A debt; something disadvantageous






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






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






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






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






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






16. The financial gain (earned or unearned) accruing over a given period of time






17. An automatic loan made to you if you write a check for more money than you have in your account






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






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






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






21. The act of lending money at an exorbitant rate of interest






22. The financial gain (earned or unearned) accruing over a given period of time






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






24. Anything that is used to produce goods or services






25. Money paid to a worker






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






27. The percentage of a sum of money charged for its use






28. A venture undertaken without regard to possible loss or injury






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






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






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






32. 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.






33. 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






34. Profits paid to investors






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






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






37. The act of reducing the selling price of merchandise






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






39. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month






40. An obligation to pay money to another party






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






42. Production of a certain amount






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






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






45. Electronic Funds Transfer






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






47. Loan where the lender goes through the borrower






48. A delay in enforcing rights or claims or privileges






49. Payment for insurance






50. 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.