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Wise Test Questions and Answers Already Graded A
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Wise Test Questions and Answers Already Graded A For what type of expense is borrowing typically considered wise? - An asset that appreciates in value over time - A short-term necessity - An immediate luxury - Routine monthly bills Why is the interest rate for a car loan usually lower...

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  • August 1, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wise test questions and answers already graded a

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1 Wise Test Questions and Answers Already Graded A For what type of expense is borrowing typically considered wise? - An asset that appreciates in value over time ✔✔ - A short -term necessity - An immediate luxury - Routine monthly bills Why is the interest rate for a car loan usually lower than that for a personal loan? - The vehicle serves as collateral for the loan ✔✔ - Car loans are generally consider ed riskier - Personal loans require higher credit scores - Car loans are unsecured Who is most likely to turn to a non -bank financial service provider? - Those who are unable to secure a loan through traditional banks or credit unions ✔✔ - Individuals seeking investment advice 2 - Those looking for higher interest savings accounts - People who already have multiple credit cards Which financial advisor suggests a strategy that reduces investment risk through diversification? - Advis or C, who recommends investing in mutual funds ✔✔ - Advisor A, who focuses on high -risk investments - Advisor B, who advocates for stock trading - Advisor D, who promotes real estate investments What is a primary reason investors prefer stocks t hat offer dividends? - They receive periodic income from the company ✔✔ - The stock's price is expected to rise sharply - Dividends are guaranteed by the company - The stock is less volatile If a college student shares a credit card with her parent and charges $1500, who is accountable for paying the bill? - Both the student and the parent are jointly responsible for the debt ✔✔ 3 - Only the student, since they made the charges - The p arent, as the primary cardholder - The credit card company will cover the charges How does the Rule of 72 assist in financial planning? - It estimates the time needed to double an investment based on its interest rate ✔✔ - It calculates potent ial earnings from a savings account - It determines the number of payments required to pay off a loan - It predicts the future value of a stock investment What factor most influences the premium for car insurance? - The type and model of the v ehicle owned ✔✔ - The driver’s credit score - The geographic location - The length of the driver’s history Why do financial experts caution against payday loans? - These loans often create a cycle of continuous borrowing ✔✔

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