Wise Financial Literacy Test Questions and Answers Graded A+
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Course
Wise Financial Literacy
Institution
Wise Financial Literacy
Wise Financial Literacy Test Questions
and Answers Graded A+
What will you receive if you surrender a whole life insurance policy that has a cash surrender
value?
You will get a specific sum of money, which includes a portion of the premiums you have
paid along with accrued interest, but...
1 Wise Financial Literacy Te st Questions and Answers Graded A+ What will you receive if you surrender a whole life insurance policy that has a cash surrender value? ✔✔You will get a specific sum of money, which includes a portion of the premiums you have paid along with accrued interest, but not the total amoun t you initially paid. What does the term capital gain refer to? ✔✔It represents the profit earned from selling stocks. Can you explain the concepts of a bull market and a bear market? ✔✔A bull market is characterized by rising prices and over all optimism (represented by a bull's upward thrust). In contrast, a bear market is marked by declining prices and pessimism (symbolized by a bear's downward swipe). What does an exemption involve in terms of taxes? ✔✔An exemption is a reduction in your taxable income based on the number of dependents you claim. 2 What does an annual deductible mean? ✔✔It is the amount you must pay out -of-pocket at the start of the year before your insurance coverage begins. What defines a Managed Health Care Plan? ✔✔In this plan, you are required to visit your primary care doctor who will decide if you need to see a specialist. Additionally, there are co -payments required for visits to the primary care physician. Which type of life insurance does not a ccumulate any cash value? ✔✔Term life insurance. When you reinvest dividends, what are they used to purchase? ✔✔They are used to acquire additional shares of the same stock. Which is the largest stock exchange globally? ✔✔The New York Sto ck Exchange (NYSE).
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