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. Someone who has insufficient assets to cover their debts






2. 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






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






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






5. Things that incite or spur to action; rewards or reasons for performing a task.






6. Arrangement for deferred payment for goods and services






7. The amount accruing to the corporations owners


8. Simplified IRS tax form which some individuals can file instead of the 1040 form.






9. An automatic loan made to you if you write a check for more money than you have in your account






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






11. 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






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






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






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






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






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






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






18. 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.






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






20. The apparent worth as opposed to the real worth






21. The recipient of funds or other benefits






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






23. Income before taxes






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






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






26. An accounting entry acknowledging sums that are owing






27. A debt; something disadvantageous






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






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






30. Making money for owning something






31. An exchange that occurs as a compromise






32. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






33. A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday.






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






35. Production of a certain amount






36. A bank account that accumulates interest






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






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






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






40. A bond with zero discounts






41. Payment for insurance






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






43. The recipient of funds or other benefits






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






45. 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






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






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






48. 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.






49. Something that is made open or revealed






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