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 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.






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






4. An accounting entry acknowledging sums that are owing






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






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






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






8. Maintain by writing regular records






9. The shares available to sell/buy






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






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






12. A bank account that accumulates interest






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






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






15. 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.






16. An obligation to pay money to another party






17. The act of taking out money or other capital






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






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






20. The date on which a financial obligation must be repaid






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






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






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






24. 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.






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






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






27. The value of a security that is set by the company issuing it






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






29. 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






30. An act of economizing






31. Concern for ones own well being and advantages






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






33. Give back (tax return)






34. Whatever must be given up to obtain some item






35. Protection against future loss






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






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






38. The outcome of an event especially as relative to an individual






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






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






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






42. By planning ahead you can ensure financial stability during your retirement.






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






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






45. Limited quantities of resources to meet unlimited wants






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






47. Interest calculated on both the principal and the accrued interest






48. A share set aside for a specific purpose






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






50. The amount accruing to the corporations owners

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