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






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






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






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






5. Stock other than preferred stock






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






7. An accounting entry acknowledging income or capital items






8. The outcome of an event especially as relative to an individual






9. Someone who has insufficient assets to cover their debts






10. 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.






11. Having honest intentions






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






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






14. Loan where the lender goes through the borrower






15. Making money for owning something






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






17. A loan that is paid off in a fixed rate over a period of time






18. A bond with zero discounts






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






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






21. Limited quantities of resources to meet unlimited wants






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






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






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






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






26. Maintain by writing regular records






27. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






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






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






30. 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






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






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






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






34. Grant use or occupation of under a term of contract






35. 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






36. Income before taxes






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






38. A debt; something disadvantageous






39. 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.






40. The act of reducing the selling price of merchandise






41. Someone who lends money at excessive rates of interest






42. All costs or bills related to the business






43. The economical needs of an individual






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






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






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






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






48. A bank account that accumulates interest






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






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