WISE Financial Literacy Questions and Answers Pack | 100% Correct Answer | Grade A+

If you have a whole life insurance policy with a cash surrender value, and you surrender the policy, what will you receive? Ans: a calculated amount of money which includes part of the premiums paid as well as the interest on that money (because they're not going to give you the whole amount b...

A credit card is issued to John and Maria Davis. This month, John charges $100 and Maria makes no charges. When the bill is received who is legally responsible for paying the $100 Ans: Both John and Maria A factor that can cause the price of a stock to DECREASE is the company Ans: lowering its ...

In order to get spending under control, a person should first Ans: create a budget of current income and expenses. Comparison shopping for a car is necessary because Ans: the price for the car can vary a great deal. Financial planners generally stress the importance of starting to save and inves...

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the: Ans: US Treasury Department The most liquid type of investment is: Ans: A money market account. He financial institution where Ms. Sanchez has her checking account will continue to pay out money for t...

For the past five years, a person has had a $20000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrender, the person will receive Ans: A calculated amount who includes the premiums paid as well as the interest on that mo...

job Ans: a position of employment with specific duties and compensation lease Ans: a written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement, such as a landlord and tenant liability Ans: an actual or potential financial obl...

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the Ans: A: US Treasury Department. In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Banks use savings account deposi...

In order to get spending under control, a person should first Ans: create a budget of current income and expenses. Comparison shopping for a car is necessary because Ans: the price of the car can vary a great deal. Financial planners generally stress the importance of starting to save and invest...

checking account Ans: transfer money to others by use of checks or electronic payments, access money directly by use of debit card, make deposits to and withdrawals from the account savings account Ans: allow deposits and withdrawals within limits, limit access to funds by check, help users e...