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 financial statement that gives operating results for a specific period






2. Payment for insurance






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






5. Total assets minus total liabilities






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






7. 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.






8. The act of taking out money or other capital






9. Total assets minus total liabilities






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






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






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






13. The date on which a financial obligation must be repaid






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






15. The process of making a decision - usually complex






16. A record of checks written and deposits made in a checking account - kept by the depositor






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






18. Maintain by writing regular records






19. The amount accruing to the corporations owners

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20. 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.






21. Shares of ownership in a company






22. The extent to which something is covered






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






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






25. 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.






26. Whatever must be given up to obtain some item






27. An extra charge for various credit activities such as using an ATM or receiving a cash advance






28. 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






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






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






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






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






33. 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






34. 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.






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






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






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






38. A payment given as a guarantee that an obligation will be met






39. An exchange that occurs as a compromise






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






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






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






43. Something that is made open or revealed






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






45. Making money for owning something






46. 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.






47. 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






48. Someone who lends money at excessive rates of interest






49. Preparing a plan for transferring property during one's lifetime and at one's death






50. A loan where the payment is acheived through interest