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






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






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






4. A general and progressive increase in prices






5. Compute credits and debits of an account






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






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






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






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






10. The maximum credit that a customer is allowed






11. An accounting entry acknowledging income or capital items






12. Having honest intentions






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






14. Preparing a plan for transferring property during one's lifetime and at one's death






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






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






17. The act of taking out money or other capital






18. Something that is made open or revealed






19. A share set aside for a specific purpose






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






21. Someone who has insufficient assets to cover their debts






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






23. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






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






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






26. Stock whose holders are guaranteed priority in the payment of dividends but whose holders have no voting rights






27. An extra charge for various credit activities such as using an ATM or receiving a cash advance






28. The recipient of funds or other benefits






29. A bond with zero discounts






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






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






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






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






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






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






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






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






38. The interest rate that a bond issuer will pay to a bondholder






39. Place to create a savings account.






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






41. A legal process intended to insure equality among the creditors of a corporation declared in bankruptcy






42. 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.






43. Something of value; a resource; an advantage






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






45. The act of reducing the selling price of merchandise






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






47. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






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






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






50. An obligation to pay money to another party