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. All costs or bills related to the business






2. The act of taking out money or other capital






3. 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.






4. Compute credits and debits of an account






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






6. Income on which tax must be paid; total income minus exemptions and deductions






7. The economical needs of an individual






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






9. 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






10. Payment for insurance






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






12. Profits paid to investors






13. Someone who lends money at excessive rates of interest






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






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






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






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






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






19. A loan in which the rate can be altered to adjust to economical need






20. A debt not backed by specific property to satisfy the indebtedness in case of default.






21. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






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






23. Loan with equal number of payments of the same amount over a fixed period of time.






24. A debt; something disadvantageous






25. The extent to which something is covered






26. The period covered by a salary payment






27. 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






28. Loan where the lender goes through the borrower






29. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations - investments - and financing.






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






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






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






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






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






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






36. A financial statement that gives operating results for a specific period






37. Someone who lends money at excessive rates of interest






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






39. Income before taxes






40. The amount of tax owed






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






42. 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






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






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






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






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






47. Place to create a savings account.






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






49. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






50. 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.