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Personal Finance WISE Test Questions and Answers Already Passed
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Personal Finance WISE Test Questions and Answers Already Passed What does inflation refer to? A. The decrease in prices of goods and services B. The level of income received from investments C. The rise in the general price level of goods and services D. The amount of interest earned on...

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  • August 1, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • personal finance wise test questions and answers

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  • Personal Finance WISE
  • Personal Finance WISE

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1 Personal Finance WISE Test Questions and Answers Already Passed What does inflation refer to? A. The decrease in prices of goods and services B. The level of income received from investments C. The rise in the general price level of goods and services D. The amount of interest earned on savings ✔✔C. The rise in the general price level of goods and services How is the time value of money best described? A. The appreciation of money due to market fluctuations B. The growth in the value of money from earned interest or dividends C. The re duction in value of money over time D. The immediate cash value of investments ✔✔B. The growth in the value of money from earned interest or dividends 2 What does a balance sheet show? A. Your income and expenditure for a specific period B. You r assets, liabilities, and net worth C. The interest earned on your savings D. The total amount of your credit card debt ✔✔B. Your assets, liabilities, and net worth What does the principle of "paying yourself first" involve? A. Saving a port ion of your income before covering any expenses B. Spending all your income on immediate needs C. Using savings to pay off credit card debt D. Investing all your earnings in high -risk assets ✔✔A. Saving a portion of your income before covering any expenses What is a commission in financial transactions? A. A fee for consulting services 3 B. The cost of purchasing stocks or bonds C. The fee charged by a brokerage firm for buying or selling securities D. The tax applied to investment earnings ✔✔C. The fee charged by a brokerage firm for buying or selling securities What does "potential earning power" refer to? A. The total amount spent on education and training B. The income you could potent ially earn over time C. The amount of money currently in your bank account D. The value of assets owned ✔✔B. The income you could potentially earn over time What is meant by a finance charge? A. A fee for late payment of credit card bills B. The total interest paid for using credit C. A charge for checking account maintenance

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