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






3. The extent to which something is covered






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






5. The process of managing one's assets and wealth






6. The process of managing one's assets and wealth






7. Arrangement for deferred payment for goods and services






8. Money paid to a worker






9. Shares of ownership in a company






10. Something of value; a resource; an advantage






11. Maintain by writing regular records






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 delay in enforcing rights or claims or privileges






14. Place to create a savings account.






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






16. Profits paid to investors






17. Someone who lends money at excessive rates of interest






18. 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.






19. Maintain by writing regular records






20. Compute credits and debits of an account






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






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






23. Production of a certain amount






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






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






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






27. The period covered by a salary payment






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






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






30. Cash payments made by the government to people who do not supply goods - services - or labor in exchange for these payments. They include Social Security benefits - veterans' benefits - and welfare payments.






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






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






33. A debt; something disadvantageous






34. A bond with zero discounts






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






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






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






38. Preparing a plan for transferring property during one's lifetime and at one's death






39. 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.






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






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






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






43. Someone who lends money at excessive rates of interest






44. The amount accruing to the corporations owners

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45. An accounting entry acknowledging sums that are owing






46. A record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets






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






48. Whatever must be given up to obtain some item






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






50. The apparent worth as opposed to the real worth