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






2. 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.






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






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






5. Stock other than preferred stock






6. This stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers






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






8. Someone who has insufficient assets to cover their debts






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






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






11. Electronic Funds Transfer






12. A loan where the payment is acheived through interest






13. The amount accruing to the corporations owners

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14. An accounting entry acknowledging sums that are owing






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






16. 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.






17. The recipient of funds or other benefits






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






19. The economical needs of an individual






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






21. The date on which a financial obligation must be repaid






22. Profits paid to investors






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






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






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






26. A share set aside for a specific purpose






27. 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.






28. A bank account that accumulates interest






29. Funds that are often times traded through a stock exchange (NYSE)






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






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






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






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






34. Maintain by writing regular records






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






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






37. The process of making a decision - usually complex






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






39. Simplified IRS tax form which some individuals can file instead of the 1040 form.






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






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






42. Total assets minus total liabilities






43. A bond with zero discounts






44. Something that is made open or revealed






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






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. 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






49. A venture undertaken without regard to possible loss or injury






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