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






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






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






4. The amount accruing to the corporations owners

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






6. 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






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






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






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






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






11. An obligation to pay money to another party






12. A debt; something disadvantageous






13. 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






14. An obligation to pay money to another party






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






16. Compute credits and debits of an account






17. Making money for owning something






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






19. Something that is made open or revealed






20. 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






21. Profits paid to investors






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






23. Give back (tax return)






24. 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.






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






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






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






28. 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






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






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






31. The act of reducing the selling price of merchandise






32. 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.






33. The money paid for employee services






34. The extent to which something is covered






35. The amount accruing to the corporations owners

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






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






38. Loan where the lender goes through the borrower






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






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






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






42. Total assets minus total liabilities






43. 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.






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






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






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






47. Someone who has insufficient assets to cover their debts






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






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






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