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. Loan where the lender goes through the borrower






2. 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.






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






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






5. Someone who lends money at excessive rates of interest






6. The standard IRS form for individual tax returns.






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






8. The period covered by a salary payment






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






10. Your periodic credit card bill - which describes and summarizes all the outstanding balances - purchases - payments - credits - finance charges and other transactions for the month






11. A bank account that accumulates interest






12. 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.






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






14. An obligation to pay money to another party






15. A regular payment to a person that iis intended to allow them to subsist without working






16. Money paid to a worker






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






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






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






20. Can be found in a newspaper and shows information about popular stocks.






21. Production of a certain amount






22. 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.






23. 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.






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






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






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






27. The money paid for employee services






28. Stock other than preferred stock






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






30. The economical needs of an individual






31. All costs or bills related to the business






32. An amount of money given to the borrower for a set period of time. After the set time has passed - the money must be paid back plus the lending fee - called interest. Payments are normally made over a series of months.






33. Production of a certain amount






34. 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






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






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






37. 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






38. A debt; something disadvantageous






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






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






41. The maximum credit that a customer is allowed






42. An institution that issues something (securities or publications or currency etc.)






43. The distribution of investment funds among broad classes of assets.






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






45. The amount of tax owed






46. Shares of ownership in a company






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






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






49. Programs aimed at helping employees integrate - assimilate - and transition to new jobs






50. Total assets minus total liabilities