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






2. 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.






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






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






5. Stock other than preferred stock






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






7. Money paid to a worker






8. The maximum credit that a customer is allowed






9. A tax-deferred investment and savings plan that acts as a personal pension fund for employees






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






11. The act of taking out money or other capital






12. A delay in enforcing rights or claims or privileges






13. Someone who has insufficient assets to cover their debts






14. Arrangement for deferred payment for goods and services






15. The amount accruing to the corporations owners

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






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






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






19. Shares of ownership in a company






20. The maximum credit that a customer is allowed






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






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






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






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






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






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






27. An exchange that occurs as a compromise






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






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






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






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






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






33. A fixed charge for borrowing money






34. The shares available to sell/buy






35. The recipient of funds or other benefits






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






37. Total assets minus total liabilities






38. Income before taxes






39. 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.






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






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






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






43. Something that is made open or revealed






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






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






46. Electronic Funds Transfer






47. 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.






48. Give back (tax return)






49. A bond with zero discounts






50. Whatever must be given up to obtain some item