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






2. 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.






3. 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






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






5. A share set aside for a specific purpose






6. 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






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






8. 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






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






10. Something that is made open or revealed






11. An obligation to pay money to another party






12. The money paid for employee services






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






14. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






15. 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.






16. Having honest intentions






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






18. The recipient of funds or other benefits






19. Give back (tax return)






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






21. A loan where the payment is acheived through interest






22. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






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






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






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






26. Maintain by writing regular records






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






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






29. Short-term and Long-term objectives that are driven by values.






30. Give back (tax return)






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






32. All costs or bills related to the business






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






34. Electronic Funds Transfer






35. Money paid to a worker






36. Something of value; a resource; an advantage






37. An accounting entry acknowledging sums that are owing






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






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






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






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






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






43. An exchange that occurs as a compromise






44. Having honest intentions






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






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






47. The act of taking out money or other capital






48. Money paid to a worker






49. A record of checks written and deposits made in a checking account - kept by the depositor






50. The maximum credit that a customer is allowed