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 penalty for making a payment after the due date






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






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






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






5. Anything that is used to produce goods or services






6. Protection against future loss






7. Money paid to a worker






8. The period covered by a salary payment






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






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






11. The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default






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






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






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






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






16. An accounting entry acknowledging sums that are owing






17. 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.






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






19. A bank account that accumulates interest






20. An accounting entry acknowledging sums that are owing






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






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






23. The amount accruing to the corporations owners

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24. Compute credits and debits of an account






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






26. All costs or bills related to the business






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






28. Total assets minus total liabilities






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






30. Stock other than preferred stock






31. A general and progressive increase in prices






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






33. Give back (tax return)






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






35. 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.






36. The amount of tax owed






37. Income before taxes






38. The act of reducing the selling price of merchandise






39. A loan where the payment is acheived through interest






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






41. 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.






42. Bring into consonance or accord - to agree on terms






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






44. Electronic Funds Transfer






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






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






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






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






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






50. The recipient of funds or other benefits