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. The maximum credit that a customer is allowed






2. The act of reducing the selling price of merchandise






3. Production of a certain amount






4. 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.






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






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






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






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






9. An act of economizing






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






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






12. The money paid for employee services






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






14. The interest rate that a bond issuer will pay to a bondholder






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






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






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






18. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






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






20. 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






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






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






23. The act of taking out money or other capital






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






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






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






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






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






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






30. Give back (tax return)






31. The standard IRS form for individual tax returns.






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






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






34. The economical needs of an individual






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






36. Stock other than preferred stock






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






38. The amount accruing to the corporations owners

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






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






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






42. A periodic statement prepared by a bank for each client






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






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






45. The shares available to sell/buy






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






47. An act of economizing






48. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






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






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