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






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






3. Production of a certain amount






4. 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.






5. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






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






7. The economical needs of an individual






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






9. Something that is made open or revealed






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






11. The economical needs of an individual






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






13. Give back (tax return)






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






15. 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.






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






17. Total assets minus total liabilities






18. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






19. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






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






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






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






23. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






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






25. 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.






26. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






27. A debt; something disadvantageous






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






29. Maintain by writing regular records






30. The maximum credit that a customer is allowed






31. The amount accruing to the corporations owners


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






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






34. An accounting entry acknowledging income or capital items






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






36. The apparent worth as opposed to the real worth






37. Compute credits and debits of an account






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






39. 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.






40. Concern for ones own well being and advantages






41. Arrangement for deferred payment for goods and services






42. Electronic Funds Transfer






43. Something of value; a resource; an advantage






44. A debt; something disadvantageous






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






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






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






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






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






50. Profits paid to investors