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






2. Loan where the lender goes through the borrower






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






4. Something of value; a resource; an advantage






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






6. An obligation to pay money to another party






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






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






9. Increase of an amount of money as a result of interest or dividends earned - directly corresponds with inflation






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






11. A share set aside for a specific purpose






12. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






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






14. Stock other than preferred stock






15. The extent to which something is covered






16. An amount that credit card companies can charge for the use of a credit card.






17. The process of making a decision - usually complex






18. A bond with zero discounts






19. A specific plan for spending your income






20. Loan where the lender goes through the borrower






21. Having honest intentions






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






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






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






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






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






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






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






29. A loan where the payment is acheived through interest






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






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






32. The time interval between the deposit of a check in a bank and its payment






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






34. Compute credits and debits of an account






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






36. A deduction allowed to a taxpayer because of his status (having certain dependents or being blind or being over 65 etc.)






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






38. Profits paid to investors






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






40. 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.






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






42. 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.






43. A fixed charge for borrowing money






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






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






46. A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount






47. 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






48. Shares of ownership in a company






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






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.