WISE Test 2023 with 50 questions and answers 100% verified
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WISE Test 2023 with 50 questions and answers 100% verified
One of Andre's seldom-used credit cards has been stolen without his knowledge. When he gets his monthly statement, he realizes that someone else has been using the card and reports it stolen. The maximum amount of unauthorized purchases ...
wise test 2023 with 50 questions and answers 100 verified one of andres seldom used credit cards has been stolen without his knowledge when he gets his monthly statement
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WISE Test 2023 with 50 questions and answers 100%
verified
One of Andre's seldom-used credit cards has been stolen without his knowledge.
When he gets his monthly statement, he realizes that someone else has been
using the card and reports it stolen. The maximum amount of unauthorized
purchases he is liable for is:
$50
Consumers who file for bankruptcy are still responsible for:
Tax claims and student loans
Which of the following provides an increase in assets or wealth?
Having capital gains
The denominations of coins in the United States are:
$.01, $.05, $.10, $.25, $.50, $1.00
Mutual funds are:
An investment that holds a wide range of different investment instruments, providing
diversification
Michele and Claudia have a seven year old son. They won $50,000 on a TV games
show and want to put it away for their son's education. Which of the following has
the highest potential growth and the highest risk?
Common Stock
Banks use savings account deposits to:
Give loans to consumers and businesses
You have a checking account balance of $100 and you deposit a personal $200
check from your brother in you checking account. When will you be able to
withdraw $150 in cash?
3 to 7 days later, depending on your bank's check clearance policy
Why is term life insurance usually the least expensive type of life insurance?
The policy only pays a death benefit
Neil will be traveling by air in Southeast Asia for six-week vacation. Which step
will not provide protection during the trip?
Take his passport
Victims of predatory lending practices are typically:
The elderly and people with a poor credit history
How can you avoid becoming a victim of identity theft?
Avoid giving your Social Security number on a phone call you did not initate
Which of the following statements is usually true about indivuals who are
financially literate?
They understand the basics of personal finance and money management
Which of the following is a disadvantage of using phone cards, debit cards,
electronic transfers, and ATM cards?
They expose consumers to greater likelihood of identity theft
The price of the Candy Corporation Stock will generally increase when there is:
Positive news about corporate earnings
, The process of setting aside money and putting it to work by having it earn
intrest or dividends or gain value in the equities market with the idea of having
additional funds to use in the future is described as:
Savings and Investing
The most liquid type of investment is:
A money market account
Joan wants to open a checking account and wonders if checking accounts pay
interest. How would you answer her question?
Some types of checking accounts pay interest
The purpose of Insurance is NOT to:
Diversify an investment portfolio
Generally, the higher the deductible on an insurance policy, the
Lower the premium
A credit card finance charge is:
The dollar amount it cost to use credit
Approximately, what is the annual finance charge for each $100 owed on a credit
card with a 16% annual interest rate (APR)?
$16.00
New coins and currency make their way into the general economy, consumers
and businesses, through the distribution system of the:
Federal Reserve System
Which of the following provides an increase in assets or wealth?
Having capital gains
A factor that is likely to affect the market price of a stock is:
Corporate profits
An investor buys 100 shares of a common stock @ $36.00 a share. The stock is
now selling at $38.00 a share. When deciding whether to hold or sell the stock,
which factor is it important for the investor to consider?
The commission charged for buying and selling the stock
Margaret wants to store a valuable coin collection and important papers.
Generally, consumers should:
Rent a safe deposit box for their valuebles
The term used to describe the ease and speed with which you can convert
savings or an investment to cash is:
Liquidty
Richard's auto insurance policy ecpired on the 5/15/2002. Richard was upset with
his insurance agent and decided to change insureance companies. At 10:00am on
5/16/2002, as he drove to a different agent to buy a new policy, he had an
accident. Who is liable for the damage to his car and his personal injuries?
Richard
A company offers direct deposit of employees' earnings. The company will still
provide each employee with a statement that lists the employees'
Gross pay, the ammount and type of deductions and net pay.
What is a credit score?
A number used to determine how much credit to extend to a person.
A cash card generally:
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