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. Someone who has insufficient assets to cover their debts






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






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






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






5. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers






6. Loan where the lender goes through the borrower






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






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






9. 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.






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






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






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






13. 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.






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






15. A penalty for making a payment after the due date






16. Maintain by writing regular records






17. Is your gross income after certain reductions have been made






18. An accounting entry acknowledging income or capital items






19. Shares of ownership in a company






20. The apparent worth as opposed to the real worth






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






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






23. The co-option of another person's personal information (e.g. - name - social security number - credit card number - passport) without that person's knowledge and the fraudulent use of such knowledge






24. A general and progressive increase in prices






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






26. The act of reducing the selling price of merchandise






27. An obligation to pay money to another party






28. A specific plan for spending your income






29. All costs or bills related to the business






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






31. The maximum credit that a customer is allowed






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






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






34. Things that incite or spur to action; rewards or reasons for performing a task.






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






36. Something that is made open or revealed






37. 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.






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






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






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






41. Someone who lends money at excessive rates of interest






42. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






43. Compute credits and debits of an account






44. A share set aside for a specific purpose






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






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






47. A yearly statement of the financial condition - progress - and expectations of an organization






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






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






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