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






2. The money paid for employee services






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






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






5. Debt backed by a mortgage - pledge of collateral - or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages - auto loans and tax liens.






6. An automatic loan made to you if you write a check for more money than you have in your account






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






8. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






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






10. A fixed charge for borrowing money






11. The apparent worth as opposed to the real worth






12. Compute credits and debits of an account






13. The maximum credit that a customer is allowed






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






15. Total assets minus total liabilities






16. 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






17. Electronic Funds Transfer






18. 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






19. Place to create a savings account.






20. 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.






21. Maintain by writing regular records






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






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






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






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






26. Loan where the lender goes through the borrower






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






28. 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.






29. Someone who has insufficient assets to cover their debts






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






31. A loan made on the signature and credit of the borrower - not secured by collateral. Credit card. (Debenture)






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






33. 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






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






35. Receiving money for loaning money






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






37. An automatic loan made to you if you write a check for more money than you have in your account






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






39. The standard IRS form for individual tax returns.






40. 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.






41. Immunity from a general burden - tax or charge; in bankruptcy or judgment executions - that portion of the debtor's property that cannot be liquidiated and applied to her debts






42. 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.






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






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






45. A financial statement that gives operating results for a specific period






46. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






47. Arrangement for deferred payment for goods and services






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






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






50. 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.