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






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






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






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






5. Money paid to a worker






6. 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.






7. Is your gross income after certain reductions have been made






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






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






10. A specific plan for spending your income






11. The act of taking out money or other capital






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






13. 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.






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






15. The maximum credit that a customer is allowed






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






17. The period covered by a salary payment






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






19. The money paid for employee services






20. Stock other than preferred stock






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






22. Grant use or occupation of under a term of contract






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






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






25. A long-term loan extended to someone who buys property






26. Total assets minus total liabilities






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






28. 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






29. Maintain by writing regular records






30. Give back (tax return)






31. The amount accruing to the corporations owners

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32. The recipient of funds or other benefits






33. Loan where the lender goes through the borrower






34. Items which the IRS allows to be subtracted from your gross taxable income in order to determine your taxable income.






35. A general and progressive increase in prices






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






37. The act of reducing the selling price of merchandise






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






39. Compute credits and debits of an account






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






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






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






43. A long-term loan extended to someone who buys property






44. Having honest intentions






45. Someone who lends money at excessive rates of interest






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






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






48. The act of committing money or capital to an endeavor (a business - project - real estate - etc.) with the expectation of obtaining an additional income or profit.






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






50. Arrangement for deferred payment for goods and services