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. An automatic loan made to you if you write a check for more money than you have in your account






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






3. The interest rate that a bond issuer will pay to a bondholder






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






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






6. Loan deal in which the actual lender may not be known to the borrower.






7. 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.






8. The maximum credit that a customer is allowed






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






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






11. Give back (tax return)






12. Short for Federal Insurance Contributions Act - the name given on the paycheck stub for Social Security and Medicare taxes. The employee pays some of the FICA tax - and and the employer pays some of this tax for each employee. Social Security pays be






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






14. By planning ahead you can ensure financial stability during your retirement.






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






16. The maximum credit that a customer is allowed






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






18. Total assets minus total liabilities






19. Concern for ones own well being and advantages






20. Payment for insurance






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. Whatever must be given up to obtain some item






23. The amount accruing to the corporations owners

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24. The economical needs of an individual






25. The act of taking out money or other capital






26. Shares of ownership in a company






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






28. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






29. A debt; something disadvantageous






30. Bring into consonance or accord - to agree on terms






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






32. The fee - expressed as a percentage - a borrower owes for the use of a creditor's money. At an interest rate of 10% - a borrower would pay $110 for $100 borrowed.






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






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






35. A mutual fund that invests in the stocks that are the basis of a well-known stock or bond index






36. The amount of tax owed






37. An evaluation by a rating company of the probability that a particular bond issue will default






38. Having honest intentions






39. Having honest intentions






40. 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






41. The amount accruing to the corporations owners

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42. A bond with zero discounts






43. A fixed charge for borrowing money






44. The period covered by a salary payment






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






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






47. The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)






48. 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.






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






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