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WISE certification test complete questions and answers
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WISE certification test complete questions and answers
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WISE certification test completequestions and answers
If a person makes a deposit of $10,000 or more into a bank account, the bank must
notify the CORRECT ANSWERS US Treasury Department.
Which financial product may pay a dividend? CORRECT ANSWERS Common stock
What is a dividend CORRECT ANSWERS a sum of money paid regularly (typically
quarterly) by a company to its shareholders out of its profits (or reserves)
Close ended credit and example CORRECT ANSWERS You have a specific time
period to pay it back Ex. Mortgages
What is a collateralized loan CORRECT ANSWERS Exchanging a tangible item for
cash
To qualify for a Federal Housing Administration (FHA) loan, a person must generally
CORRECT ANSWERS fulfill income guidelines
Which of the following does the Federal Reserve use to regulate the nation's money
supply? CORRECT ANSWERS Monetary policy
New coins and currency make their way into the general economy, consumers and
businesses, through the distribution system of the CORRECT ANSWERS Federal
Reserve System
A person's debt ratio shows the relationship between debt and net worth. The lower the
ratio the CORRECT ANSWERS better off financially the person is.
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 ANSWERS capital gains on the investment will be
taxed at a lower rate.
A person complains about how expensive it is to be a cigarette smoker. One of the
reasons cigarettes are so expensive is that CORRECT ANSWERS the government
imposes an excise tax on them.
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 ANSWERS a budget
variance.
In terms of their finances, when a couple has a baby, they will CORRECT ANSWERS
receive an additional tax exemption because of the baby.
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