Exam (elaborations)
WISE Financial Literacy Practice Test (1).
- Module
- Pathophysiology EXAM 4 UTA
- Institution
- Pathophysiology EXAM 4 UTA
WISE Financial Literacy Practice Test (1).
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WISE Financial Literacy Practice TestWhich of the following does the Federal Reserve use to regulate the nation's money
supply? - ANS-Monetary policy
Identify the background color of a U.S. $5.00 bill. - ANS-Green
A type of electronic funds transfer (EFT) is: - ANS-An ATM transaction
Scott just got an ATM card to use and must choose a PIN (Personal Identification
Number). How should he select a PIN that will give him maximum protection against
anyone else being able to find out what the PIN is? - ANS-Use a random selection of
letters and numbers
Which statement is FALSE about most ATM (Automated Teller Machine) cards? -
ANS-You can always get cash anywhere in the world with no fee.
A high school student has begun to investigate the field of finance as a career choice. In
deciding about the field, the student should focus on which question first? - ANS-Will I
find a balance between financial rewards and personal satisfaction from work?
Money for saving, investing, or spending cannot be from: - ANS-Capital losses from the
sale of stock
Which statement best describes the relationship between a person's educational level
and that person's potential earning power? - ANS-A person with a professional degree
is likely to earn at least four times as much per year as a person who did not complete
high school
Purchases made with your debit card are usually: - ANS-Deducted immediately from
your checking account
Jami lost her debit card. She did not report it missing for 3 months. If an unauthorized
person used her debit card, her maximum liability is: - ANS-Unlimited liability
The interest earned on United States Series EE Savings Bonds is - ANS-exempt from
state and local taxes.
, Buying a treasury bill (T-bill) is best for investors who are looking for - ANS-a secure,
low risk investment.
A pharmacy is to drugs as the American Stock Exchange is to: - ANS-Securities
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 -
ANS-one of the apartments is not rented.
What is the largest equities market in the world? - ANS-New York Stock Exchange
(NYSE)
A person owns a stock that pays a $2.00 a share dividend. If the person chooses to
reinvest that dividend, this means that the $2.00 will go toward buying - ANS-more of
the same stock.
Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50
a share on 50% margin. This means that the - ANS-brokerage firm is lending the
investor 50% of the money.
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 - ANS-80
shares of the stock and the price of each share is $40.
Before the Kiss Corporation can issue stocks or bonds, it must register the issue with: -
ANS-The Securities and Exchange Commission (SEC)
If a business wants to raise capital but not create debt, it can: - ANS-Issue common
stock
If a person makes a deposit of $10,000 or more into a bank account, the bank must
notify the... - ANS-US Treasury Department
In order to track large deposits, the federal government requires that deposits of
$10,000 or more be reported to the Treasury Department. Some concerns may be that
a person might be trying to avoid paying taxes on game winnings or perhaps illegal
gains. - ANS-State Banking Commission
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