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. Shares of ownership in a company






2. 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






3. An obligation to pay money to another party






4. Production of a certain amount






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






6. Making money for owning something






7. 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






8. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






9. A bank account that accumulates interest






10. 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






11. Someone who has insufficient assets to cover their debts






12. Protection against future loss






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






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






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






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






17. 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






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






19. An accounting entry acknowledging sums that are owing






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






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






22. The act of lending money at an exorbitant rate of interest






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






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






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






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






27. Concern for ones own well being and advantages






28. 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






29. An exchange that occurs as a compromise






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






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






32. Time deposits that state the amount of the deposit - maturity - and rate of intrest being paid






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






34. Income before taxes






35. The commercial activity of transporting and selling goods from a producer to a consumer






36. The letters used to identify listed companies on the securities exchanges where they are traded (DPS) Dr. Pepper Snapple Group






37. A share set aside for a specific purpose






38. Anything that is used to produce goods or services






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






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






41. The act of lending money at an exorbitant rate of interest






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






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






44. The act of reducing the selling price of merchandise






45. Arrangement for deferred payment for goods and services






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






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






48. Limited quantities of resources to meet unlimited wants






49. Receiving money for loaning money






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