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 fixed charge for borrowing money






2. The act of reducing the selling price of merchandise






3. The amount accruing to the corporations owners

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






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






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






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






8. 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






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






10. A fixed charge for borrowing money






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






12. A debt; something disadvantageous






13. Profits paid to investors






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






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






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






17. 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






18. The economical needs of an individual






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






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






21. The time interval between the deposit of a check in a bank and its payment






22. The maximum credit that a customer is allowed






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






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






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






26. 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.






27. An institution that issues something (securities or publications or currency etc.)






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






29. The extent to which something is covered






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






31. An accounting entry acknowledging income or capital items






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






33. A bond with zero discounts






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






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






36. Money paid to a worker






37. An accounting entry acknowledging sums that are owing






38. A penalty for making a payment after the due date






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






40. The extent to which something is covered






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






42. The amount accruing to the corporations owners

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43. Arrangement for deferred payment for goods and services






44. A delay in enforcing rights or claims or privileges






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






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






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






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






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






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