Personal Finance Question and answers already passed 2024/2025
0 view 0 purchase
Course
WISE
Institution
WISE
Personal Finance Question and answers already passed 2024/2025 Personal Finance: Wise Test Study Guide
When a person declares bankruptcy, that fact will appear on the person's credit report for ______ years - correct answer 10 years
Most of the adverse info on a credit report appears for __...
Personal Finance: Wise Test Study
Guide
When a person declares bankruptcy, that fact will appear on the person's
credit report for ______ years - correct answer ✔10 years
Most of the adverse info on a credit report appears for _____ years - correct
answer ✔7 years
A person has three credit cards with very large outstanding balances and is
unable to make payments on any of them. Which action should the person
take? - correct answer ✔Notify the credit card companies and negotiate new
terms
When a person brings an item to a pawnshop to obtain cash, the transaction
is considered to be _____ - correct answer ✔a collateralized loan
The Federal Reserve uses ______ to regulate the nation's money supply -
correct answer ✔Monetary policy
A high school student has begun to investigate the field of finance as a career
choice. In deciding about the field, what question does the student focus on
first? - correct answer ✔Will I find a balance between financial rewards and
personal satisfaction?
To make sure you will always remember your ATM PIN you write the PIN and
keep it ______ - correct answer ✔in a secure place at home
, The primary sources of income for most people between 20 and 35 who are
not living on a pension or social security: - correct answer ✔Salaries, wages,
and tips
A person's debt ratio shows the relationship between debt and net worth. If
the ratio is low, it means ______ - correct answer ✔the person is better off
financially
A man budgeted $200 a month for clothing. This month the man spent $150
on clothing, therefore that budget item is considered to have _____ - correct
answer ✔a budget variance
One of the benefits of holding an investment for over a year, rather than
selling it in less than a year, is _______ - correct answer ✔the capital gains
on the investment will be taxed at a lower rate
One of the reasons cigarettes are so expensive is _______ - correct answer
✔the government imposes an excise tax on the cigarettes
A company offers a defined contribution pension to their employees. Upon
retirement the employees receives _______ - correct answer ✔The total
amount of money contributed plus investment earnings
A person owns a stock that pays a $2 a share dividend. If the person chooses
to reinvest that dividend, the $2 will be used to buy _____ - correct answer
✔more of the same stock
What is the largest equities market in the world? - correct answer ✔The New
York Stock Exchange (NYSE)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller flyhigher329. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
