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 loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






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






3. 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.






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






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






6. Whatever must be given up to obtain some item






7. 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






8. All costs or bills related to the business






9. 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.






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






11. 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






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






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






14. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






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






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






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






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






19. Having honest intentions






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






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






22. A share set aside for a specific purpose






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






24. The extent to which something is covered






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






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






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






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






29. 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.






30. Limited quantities of resources to meet unlimited wants






31. Something that is made open or revealed






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






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






34. Making money for owning something






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






36. The commercial activity of transporting and selling goods from a producer to a consumer






37. Loan where the lender goes through the borrower






38. Production of a certain amount






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






40. Arrangement for deferred payment for goods and services






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






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






43. Electronic Funds Transfer






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






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






46. The recipient of funds or other benefits






47. Something of value; a resource; an advantage






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






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






50. A debt; something disadvantageous