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. The economical needs of an individual






2. Someone who lends money at excessive rates of interest






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






4. 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.






5. Income before taxes






6. 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






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






8. A delay in enforcing rights or claims or privileges






9. Can be found in a newspaper and shows information about popular stocks.






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






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






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






13. An exchange that occurs as a compromise






14. 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






15. Prompt payment for goods or services in currency or by check






16. Loan where the lender goes through the borrower






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






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






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






20. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






21. Something of value; a resource; an advantage






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






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






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






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






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






27. Total assets minus total liabilities






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






29. The withholding form each new employee fills out - stating the number of exemptions. the more exemptions listed - the less withholding tax will be taken from the paycheck.






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






31. Limited quantities of resources to meet unlimited wants






32. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






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






34. 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.






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






36. 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.






37. Income on which tax must be paid; total income minus exemptions and deductions






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






39. Shares of ownership in a company






40. Give back (tax return)






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






42. Money paid to a worker






43. The maximum credit that a customer is allowed






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






45. Certificates that represent money the government has borrowed from private citizens






46. The money(usually a set amount) given to an individual to spend






47. Place to create a savings account.






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






49. 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






50. The amount of tax owed