Wise Test Review All Topics Questions And Answers Well Illustrated 2024.
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Course
Wise
Institution
Wise
Wise Test Review All Topics Questions And Answers Well Illustrated 2024.
Collateral - correct answer. security given for loan, assets to secure the debt
Capacity - correct answer. your ability to repay the debt. Do you have sufficient $money to repay a loan
Capital - correct a...
Wise Test Review All Topics Questions And
Answers Well Illustrated 2024.
Collateral - correct answer. security given for loan, assets to secure the debt
Capacity - correct answer. your ability to repay the debt. Do you have sufficient
$money to repay a loan
Capital - correct answer. "net worth". wealth in the form of money or property owned
by a person
Character - correct answer. good reputation, Integrity
Credit history - correct answer. a summary of a person's borrowing and repayment
history
50 dollars - correct answer. In the event that your credit card is stolen in the United
States, federal law limits the liability of card holders to ____ regardless of the amount
charged on the card by the unauthorized user.
zero liability "Owes nothing" - correct answer. if just the credit card account number
itself is stolen, federal law guarantees that the card holder has a___________to the
issuer.
EFT - correct answer. electronic funds transfer; exchange of money by sending bank
records via a computer network
FDIC - correct answer. the federal government protects your money up to $250,000 in
a single account
Department store charge cards. - correct answer. Which of the following is considered
to be open-end credit?
Notify the credit card companies - correct answer. 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
10 years - correct answer. When a person declares bankruptcy that fact will appear on
the person?s credit report
, A personal loan without assets to cover the loan amount - correct answer. What is
meant by an uncollateralized loan?
a collateralized loan - correct answer. When a person brings an item to a pawnshop to
obtain cash, the transaction is considered
Monetary policy - correct answer. Which of the following does the Federal Reserve
use to regulate the nation's money supply?
Salaries, wages, and tips - correct answer. The primary sources of income for most
people between the ages of 20 and 35 who are not living on a pension or social security
are:
better off financially the person is. - correct answer. A person's debt ratio shows the
relationship between debt and net worth. The lower the ratio the
Exercise Tax - correct answer. A person complains about how expensive it is to be a
cigarette smoker. One of the reasons cigarettes are so expensive is that
budget variance - correct answer. the difference between the budgeted amount and
the actual amount that you spend
budget variance - correct answer. A man budgeted $200 a month for clothing. This
month the man spent $150 on clothing therefore that budget item is considered to have
capital gains on the investment will be taxed at a lower rate. - correct answer. One of
the benefits of holding an investment for over a year rather than selling it in less than a
year is that the
Federal Reserve System - correct answer. New coins and currency make their way
into the general economy, consumers and businesses, through the distribution system
of the:
A: tax and penalty free. - correct answer. 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
80 shares of the stock and the price of each share is $40. - correct answer. An
investor bought 40 shares of ABC corporation's stock at $80 a share. Two weeks later,
the investor receives notice that the corporation has approved a 2-for-1 stock split.
Based on this information, the investor would own at the moment of the split
exempt from state and local taxes. - correct answer. The interest earned on United
States Series EE Savings Bonds is
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