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 bank account that accumulates interest






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. A general and progressive increase in prices






4. 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.






5. The shares available to sell/buy






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






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






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






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






10. Something that is made open or revealed






11. A bank - credit union - savings and loan - or other organization that offers services related to saving and borrowing money






12. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






13. Beliefs of a person or social group in which they have an emotional investment (either for or against something)






14. Production of a certain amount






15. 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.






16. The percentage of a sum of money charged for its use






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






18. A bond with zero discounts






19. A loan where the payment is acheived through interest






20. Receiving money for loaning money






21. Stock other than preferred stock






22. Financial reports that summarize the financial condition and operations of a business






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






24. Compute credits and debits of an account






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






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






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






28. 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.






29. Income before taxes






30. Loan where the lender goes through the borrower






31. The amount accruing to the corporations owners

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32. 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.






33. All of the investments - including stocks - bonds - mutual funds - options - and commodities - that are traded.






34. Something of value; a resource; an advantage






35. Act of combinging all debts into one monthly payment - typically extending the terms and the length of time required to repay the debt






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






37. A document - usually containing financial data - that a company delivers to the SEC and - thereby - to the public.






38. Income before taxes






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






40. Anything that is used to produce goods or services






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






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






43. An act of economizing






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






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






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






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






48. Arrangement for deferred payment for goods and services






49. A debt; something disadvantageous






50. The money paid for employee services