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. Financial reports that summarize the financial condition and operations of a business






2. Diagnosis Codes (in CCB Popup if more then 5 codes)






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






4. The act of taking out money or other capital






5. 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






6. 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.






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






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






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






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






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






12. Financial organization that pools people's money and invests it






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






14. A delay in enforcing rights or claims or privileges






15. 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






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






17. The apparent worth as opposed to the real worth






18. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






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






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






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






22. 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






23. Someone who has insufficient assets to cover their debts






24. Arrangement for deferred payment for goods and services






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






26. Payment for insurance






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






28. The amount accruing to the corporations owners

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






30. The standard IRS form for individual tax returns.






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






32. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






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






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






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






37. Is your gross income after certain reductions have been made






38. The period covered by a salary payment






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






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






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






42. Maintain by writing regular records






43. Having honest intentions






44. Someone who has insufficient assets to cover their debts






45. Having honest intentions






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






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






48. 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.






49. An act of economizing






50. 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.