Wise Certification Test Question and answers rated A+ 2024/2025
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Course
WISE
Institution
WISE
Wise Certification Test Question and answers rated A+ 2024/2025 Wise Certification Test
If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the - correct answer US Treasury Department
Margaret wants to store a valuable coin collection & important papers...
Wise Certification Test
If a person makes a deposit of $10,000 or more into a bank account, the bank
must notify the - correct answer ✔US Treasury Department
Margaret wants to store a valuable coin collection & important papers.
Generally, consumers should: - correct answer ✔Rent a safe deposit box for
their valuables
Troy has $50 a month transferred electronically from his checking account to
his savings account. This is an example of: - correct answer ✔A savings plan
Employees prefer direct deposits because: - correct answer ✔The money is
generally deposited in their checking account sooner than it would be if they
had to deposit it in person
A person is depositing $20 in cash and a check for $50. On the checking
account deposit slip, the person should - correct answer ✔List the cash
deposit it separately from the check as well as the total of the deposit
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 in order to
negotiate a new payment plan
To qualify for a Federal Housing Administration (FHA) loan, a person must
generally - correct answer ✔Fulfill income guidelines
When a person declares bankruptcy that fact will appear on the person's
credit report - correct answer ✔For a 10 year period
,Which of the following is considered to be open-end credit? - correct answer
✔Department store charge cards
What is meant by an uncollateralized loan? - correct answer ✔A person loan
without assets to cover the loan amount
Which of the following does the Federal Reserve use to regulate the nation's
money supply? - correct answer ✔Monetary policy
Money for saving, investing, of spending cannot be from: - correct answer
✔Capital losses from the sale of stock
Susan gives Marie her ABC Credit Union debit card & personal identification
number (PIN) so Marie could get $25 from Susan's bank account. Marie
withdrew $100 instead of the agreed $25. How can Sudan get the $75 back? -
correct answer ✔No bank or government agency is obligated to reimburse
Susan because she authorized Marie to use her ATM card & PIN
Which of the following is a disadvantage of using phone cards, debit cards,
electronic transfers, and ATM cards? - correct answer ✔They expose
consumers to greater likelihood of identify theft
A person complains about how expensive it is to be a cigarette smoker. Once
of the reasons cigarettes are so expensive is that - correct answer ✔The
government imposes an excise tax on them
One of the benefits of holding an investment for over a year rather than selling
it in less than a year is that the - correct answer ✔Capital gains on the
investment will be taxed at a lower rate
, A man budgeted $200 a month for clothing. This month the man spent $150
on clothing therefore that budgeted item is considered to have - correct
answer ✔A budget variance
A persons debt ration shows the relationship between debt and net worth. The
lower the ratio the - correct answer ✔Better off financially the person is
After five years of owning a Roth Individual Retirement Account (IRA) a
person wants to buy his first home, the person can withdraw money from the
Roth IRA - correct answer ✔Tax & penalty fee
A company offers a defined-contribution pension plan which means that upon
retirement the employee will receive - correct answer ✔The total amount of
money contributed plus investment earnings
As an investment, a person decides to buy a small house that has three rental
apartments. The profits from this investment may be lower then expected if
the - correct answer ✔One of the apartments is not rented
Buying s treasury bill (T-bill) is best for investors who are looking for - correct
answer ✔A secure, low risk investment
A pharmacy is to drugs as the American Stock Exchange is to: - correct
answer ✔Securities
Before the Kiss Corporation can issue stocks or bonds, it must register the
issue with: - correct answer ✔The Securities and Exchange Commission
(SEC)
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