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 organization that pools people's money and invests it






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






4. Income before taxes






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






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






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






9. The extent to which something is covered






10. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






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






12. Having honest intentions






13. Whatever must be given up to obtain some item






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






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






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






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






18. An accounting entry acknowledging sums that are owing






19. A delay in enforcing rights or claims or privileges






20. Making money for owning something






21. The act of taking out money or other capital






22. 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.






23. Something that is made open or revealed






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






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






26. A debt; something disadvantageous






27. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






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






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






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






31. Money paid to a worker






32. Total assets minus total liabilities






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






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






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






36. Making money for owning something






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






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






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






40. The amount accruing to the corporations owners

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






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






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






44. An obligation to pay money to another party






45. Profits paid to investors






46. The maximum credit that a customer is allowed






47. Give back (tax return)






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






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






50. An act of economizing