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






2. Limited quantities of resources to meet unlimited wants






3. 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.






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






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






6. Place to create a savings account.






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






8. A bank account that accumulates interest






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






10. Someone who has insufficient assets to cover their debts






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






12. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) The income that is received






13. A guarantee of accrued benefits to participants at retirement age - regardless of their employment status at that time






14. An act of economizing






15. Making money for owning something






16. Something that is made open or revealed






17. Total assets minus total liabilities






18. The money paid for employee services






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






20. The act of reducing the selling price of merchandise






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






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






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






24. 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.






25. The apparent worth as opposed to the real worth






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






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






28. Receiving money for loaning money






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






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






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






32. A bank account that accumulates interest






33. Stock other than preferred stock






34. Shares of ownership in a company






35. All costs or bills related to the business






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






37. Electronic Funds Transfer






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






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






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






41. The recipient of funds or other benefits






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






43. A venture undertaken without regard to possible loss or injury






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






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






46. Someone who has insufficient assets to cover their debts






47. Limited quantities of resources to meet unlimited wants






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






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






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







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