WISE Financial Literacy Certification Practice Questions with Correct Answers
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Course
Financial Literacy
Institution
Financial Literacy
WISE Financial Literacy Certification Practice Questions with Correct AnswersWISE Financial Literacy Certification Practice Questions with Correct AnswersWISE Financial Literacy Certification Practice Questions with Correct AnswersWISE Financial Literacy Certification Practice Questions with Correc...
WISE Financial Literacy
Certification Practice Questions
with Correct Answers
Question : To qualify for a Federal Housing Administration (FHA) loan, a
person must generally
A: have at least a high school diploma.
B: have one-quarter of the cost of the home
for a down-payment.
C: fulfill income guidelines.
D: provide two individuals to co-sign the loan. - ANS ✔C: fulfill income
guidelines.
A high school student has begun to investigate the field of finance as a
career choice. In deciding about the field, the student should focus on
which question first?
A: Will I find a balance between financial rewards and personal
satisfaction from work?
WISE Financial Literacy Certification Practice Questions with Correct Answers
, 2
B: How many people do I know who work in this field?
C: Once I train for this area, how long before I will be
at the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs? - ANS ✔A: Will I find a balance between financial rewards
and personal satisfaction from work?
A type of electronic funds transfer (EFT) is:
A: A transaction made with a check
B: A deposit made with a bank teller
C: Not widely used by consumers
D: An ATM transaction - ANS ✔D: An ATM transaction
A company offers a defined-contribution pension plan which means that
upon retirement the employee will receive
A: one-half of the employee's last year's salary.
B: the total amount of money contributed plus investment
earnings.
C: an amount of money based only on the length of time
WISE Financial Literacy Certification Practice Questions with Correct Answers
, 3
the employee worked for the company.
D: a specified amount of money based totally on the profit
earned by the company while the employee worked
there. - ANS ✔B: the total amount of money contributed plus investment
earnings.
The interest earned on United States Series EE Savings Bonds is
A: exempt from state and local taxes.
B: paid in a lump sum at the time the face value on the bond is reached.
C: equal to the money paid to purchase it. - ANS ✔A: exempt from state
and local taxes.
Buying a treasury bill (T-bill) is best for investors who are looking for
A: a place to invest between $100-$500.
B: a secure, low risk investment.
C: a higher yield on their investment than corporate bonds offer.
D: an investment that matures in 10-30 years. - ANS ✔B: a secure, low,
risk investment.
WISE Financial Literacy Certification Practice Questions with Correct Answers
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