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WISE Test 143 Questions 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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WISE Test 143 Questions 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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WISE Test 143 Questions.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/WISE%20Test%WISE Test Actual 143 Questions & Verified
Answers Correctly
1. One of Andre's seldom-used credit cards has been stolen without his
knowledge. When he gets his monthly statement, he realizes that someone
else has been using the card and reports it stolen.The maximum amount of
unauthorized purchases he is liable for is
Answer $50
2. Consumers who file for bankruptcy are still responsible for
Answer Tax claims andstudent loans
3. Which of the following provides an increase in assets or wealth?
Answer Havingcapital gains
4. The denominations of coins in the United States are
Answer $.01, $.05, $.10, $.25,
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$.50, $1.00
5. Mutual funds are
Answer An investment that holds a wide range of different investmentinstruments,
providing diversification
6. Michele and Claudia have a seven year old son. They won $50,000 on a TV
games show and want to put it away for their son's education.Which of
the following has the highest potential growth and the highest risk?
Answer CommonStock
7. Banks use savings account deposits to
Answer Give loans to consumers and busi-nesses
8. You have a checking account balance of $100 and you deposit a personal
$200 check from your brother in you checking account.When will you be ableto
withdraw $150 in cash?
Answer 3 to 7 days later, depending on your bank's check clearance policy
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9. Why is term life insurance usually the least expensive type of life insur-
ance?
Answer The policy only pays a death benefit
10. Neil will be traveling by air in Southeast Asia for six-week vacation.Which
step will not provide protection during the trip?
Answer Take his passport
11. Victims of predatory lending practices are typically
Answer The elderly and peoplewith a poor credit history
12. How can you avoid becoming a victim of identity theft?
Answer Avoid giving yourSocial Security number on a phone call you did not initate
13. Which of the following statements is usually true about indivuals who are
financially literate?
Answer They understand the basics of personal finance and money management
14. Which of the following is a disadvantage of using phone cards, debit cards,
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