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. 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.






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






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






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






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






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






7. Receiving money for loaning money






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






9. Stock other than preferred stock






10. Stock other than preferred stock






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






12. A specific plan for spending your income






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






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






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






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






17. The shares available to sell/buy






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






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






20. A loan that is paid off in a fixed rate over a period of time






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






22. Whatever must be given up to obtain some item






23. An estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share






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






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






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






27. The standard IRS form for individual tax returns.






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






29. The money(usually a set amount) given to an individual to spend






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






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






32. A loan backed by something valuable - such as property






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






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






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






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






37. An obligation to pay money to another party






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






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






40. An exchange that occurs as a compromise






41. The maximum credit that a customer is allowed






42. 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.






43. Arrangement for deferred payment for goods and services






44. The act of reducing the selling price of merchandise






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






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






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






48. Profits paid to investors






49. A debt; something disadvantageous






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