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. 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.






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






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






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






6. The period covered by a salary payment






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






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






9. 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






10. 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.






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






12. 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.






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






14. A bank account that accumulates interest






15. The maximum credit that a customer is allowed






16. 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






17. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail






18. A bank account that accumulates interest






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






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






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






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






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






24. Profits paid to investors






25. The money paid for employee services






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






27. Stock other than preferred stock






28. The apparent worth as opposed to the real worth






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






30. A loan where the payment is acheived through interest






31. Compute credits and debits of an account






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






33. A share set aside for a specific purpose






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






35. Savings account that pays market rate or better interest and allows access to funds without penalty.






36. Arrangement for deferred payment for goods and services






37. Electronic Funds Transfer






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






39. Something that is made open or revealed






40. All costs or bills related to the business






41. The money paid for employee services






42. Arrangement for deferred payment for goods and services






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






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






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






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






47. Electronic Data Gathering Analysis and Retrieval - the electronic system used by the SEC to enable investors to search electronically for financial reports filed by individual companies






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






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






50. The sum of all bonds issued by the municipality and subtracts self-supporting debt from the figure