Wise Test Question and answers verified to pass 2024/2025
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Module
WISE
Institution
WISE
Wise Test Question and answers verified to pass 2024/2025 WISE Test
In order to get spending under control, a person should first - correct answer Create a budget of current income and expenses
Comparison shopping for a car is necessary because - correct answer The price for the car can v...
wise test question and answers verified to pass 20
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Wise Test
It is usually a good idea to borrow for - correct answer ✔Something that
increases in value over time
A person generally pays a lower interest rate on a car loan then on a personal
loan because the - correct answer ✔Car is collateral for the loan
Who is most likely to use the service of a non-Bank consumer finance
company - correct answer ✔Individuals who cannot get a loan from a bank
or credit union
Which financial advisor is recommending a long-term investment that lowers
investment risk - correct answer ✔Advisor C invest in mutual funds
Why do investors by stop that pay dividends - correct answer ✔Investors
receive payments from the company during the year
A college student has a joint credit card with her mother. During the first
semester, the student charges a total of $1500 for books, movies and clothes.
The credit card bill for $1500 will have to be paid by the - correct answer
✔Mother and/or the students since both individuals are responsible for
repairing any debt
The rule of 72 helps a person determine the - correct answer ✔Number of
years it takes to double money at a given interest rate
The cost of car insurance is affected by the - correct answer ✔Kind of car
owned
, Why do financial advisors warn people against taking payday loans - correct
answer ✔These loans often results in a pattern of need to continue borrowing
If a person believes that he is a victim of identity theft, he must - correct
answer ✔File a report with the police and get a copy of the report
A stock is characterized as a "growth" stock because the expectation is for the
corporation to - correct answer ✔Have significant increase in sales and
earnings
A public corporation announced today that it lost a major lawsuit. As a result, it
is most likely that the - correct answer ✔Price of the stock will decrease
Which method is used to determine a persons net worth - correct answer
✔Assets minus liabilities equal net worth
JoBlo, who is financially supporting his 10-year-old daughter, is able to reduce
the amount of tax taken out of his salary by claiming his daughter as a -
correct answer ✔Dependent
Why does a person renting an apartment by renters insurance - correct
answer ✔To protect her personal property in case of fire or theft
A person generally spends $100 a month on groceries. If this years inflation
rate is 5%, the person can expect to - correct answer ✔Spend more for the
same amount of groceries
A person should consider paying her monthly bills automatically from her
checking account because it - correct answer ✔Makes it easier to pay the
bills on time each month
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