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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. The apparent worth as opposed to the real worth






2. Protection against future loss






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






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






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






6. A loan where the payment is acheived through interest






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






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






9. 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






10. The standard IRS form for individual tax returns.






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






12. The recipient of funds or other benefits






13. 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






14. Profits paid to investors






15. Electronic Funds Transfer






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






17. An accounting entry acknowledging sums that are owing






18. Receiving money for loaning money






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






20. 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






21. The economical needs of an individual






22. Funds that are often times traded through a stock exchange (NYSE)






23. 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






24. Business organizations that accommodate the buying and selling of securities.






25. Protection against future loss






26. The maximum credit that a customer is allowed






27. The process of managing one's assets and wealth






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






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






30. Place to create a savings account.






31. Money paid to a worker






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






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






34. Payment for insurance






35. Arrangement for deferred payment for goods and services






36. The money paid for employee services






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






38. The shares available to sell/buy






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






40. Something that is made open or revealed






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






42. 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.






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






44. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






45. Give back (tax return)






46. Funds that are often times traded through a stock exchange (NYSE)






47. The money paid for employee services






48. Bring into consonance or accord - to agree on terms






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






50. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure







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