Personal Finance WISE Test questions and answers latest 2023 with complete solution
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Wise
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Personal Finance WISE Test questions and answers latest 2023 with complete solution
If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the:
US Treasury Department
The term used to describe the ease and speed with which you can convert savings or an investm...
personal finance wise test questions and answers latest 2023 with complete solution if a person makes a deposit of 10
000 or more into a bank account
the bank must notify the us treasury departmen
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Personal Finance WISE Test questions and answers latest
2023 with complete solution
If a person makes a deposit of $10,000 or more into a bank account, the bank must
notify the:
US Treasury Department
The term used to describe the ease and speed with which you can convert savings or
an investment to cash is:
Liquidity
Which financial product typically pays the highest rate of interest?
Certificate of Deposit
What action should a person take who must make a tuition payment at the end of
August each year?
Decide how much money will be needed and then place 1/12 of that amount in a
separate account each month
A person is depositing $20 in cash and a check for $50. On the checking account
deposit slip, the person should
list the cash deposit separately from the check as well as the total of the deposit
Which of the following is considered to be open-end credit?
Department store charge cards
To qualify for a Federal Housing Administration (FHA) loan, a person must generally
fulfill income guidelines
A person has three credit cards with very large outstanding balances and is unable to
make payments on any of them. Which action should they take?
Notify the credit card companies in order to negotiate a new payment plan
When a person declares bankruptcy that fact will appear on the person's credit report
for a 10 year period
What is meant by an uncollateralized loan?
A personal loan without assets to cover the loan amount
When a person brings an item to a pawnshop to obtain cash, the transaction is
considered
a collateralized loan
Claire got a new credit card from American Bank and wants to cancel her USA credit
card. The best method is to dispose of her USA credit card is to:
Cut up the card, put parts in different garbage bags, and instruct the credit card
company in writing or by phone to close the account
A credit card finance charge is:
The dollar amount it costs to use credit
Which of the following does the Federal Reserve use to regulate the nation's money
supply?
Monetary policy
Jami lost her debit card. She did not report it missing for 3 months. If an unauthorized
person used her debit card, her maximum liability is:
Unlimited liability
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