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 delay in enforcing rights or claims or privileges






2. Anything that is used to produce goods or services






3. An act of economizing






4. The amount of tax owed






5. The rights of an individual to own - use - rent - invest in - buy - and sell property.






6. The standard IRS form for individual tax returns.






7. Arrangement for deferred payment for goods and services






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






9. The period covered by a salary payment






10. Loan where the lender goes through the borrower






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






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






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






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






15. Loan deal in which the actual lender may not be known to the borrower.






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






17. The money(usually a set amount) given to an individual to spend






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






19. Limited quantities of resources to meet unlimited wants






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






21. The value of a security that is set by the company issuing it






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






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






24. The apparent worth as opposed to the real worth






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






26. Someone who lends money at excessive rates of interest






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






28. The recipient of funds or other benefits






29. The act of taking out money or other capital






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






31. 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.






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






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






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






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






36. Money paid to a worker






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






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






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






40. The amount accruing to the corporations owners

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


41. Total assets minus total liabilities






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






43. Receiving money for loaning money






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






45. Something that is made open or revealed






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






47. The act of proving that an instrument purporting to be a will was signed and executed in accord with legal requirements






48. 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






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






50. A specific plan for spending your income