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WISE Test Questions and Answers Already Passed
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WISE Test Questions and Answers Already Passed If Andre discovers that one of his infrequently used credit cards has been stolen and misused, and he reports it only after seeing the fraudulent charges on his statement, what is the most he would be responsible for? $50 After declaring b...

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  • August 1, 2024
  • August 1, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wise test questions and answers already passed

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1 WISE Test Questions and Answers Already Passed If Andre discovers that one of his infrequently used credit cards has been stolen and misused, and he reports it only after seeing the fraudulent charges on his statement, what is the most he would be responsible for? ✔✔ $50 After declaring bankruptcy, which obligations remain the individual's responsibility? ✔✔ Tax debts and student loans What leads to an increase in an individual's assets or financial wealth? ✔✔ Realizing capital gains What are the various coin denominations used in the United St ates? ✔✔ 1 cent, 5 cents, 10 cents, 25 cents, 50 cents, $1 How would you describe mutual funds? 2 ✔✔ They are investment vehicles that aggregate a diverse range of financial assets to offer diversification. Michele and Claudia, who have a seven -year-old child, won $50,000 on a game show and plan to invest it for their son's education. What type of investment offers the greatest potential for growth and carries the highest risk? ✔✔ Common Stock What do banks typically do with the deposits from savings accounts? ✔✔ They use these funds to provide loans to individuals and businesses. With a checking account balance of $100, if you deposit a $200 personal check from your brother, when will you be able to withdraw $150 in cash? ✔✔ Generally within 3 t o 7 days, depending on the bank's check clearing procedures. Why is term life insurance often the most affordable type of life insurance? ✔✔ It only provides a death benefit without any cash value accumulation. 3 Neil is planning a six -week vacation to Southeast Asia by air. Which precaution will not offer protection during his trip? ✔✔ Carrying his passport Who are the most common targets of predatory lending practices? ✔✔ The elderly and individuals with poo r credit histories What can you do to protect yourself from identity theft? ✔✔ Avoid sharing your Social Security number in unsolicited phone calls. What is generally true about individuals who are knowledgeable about personal finance? ✔✔ They have a good grasp of fundamental financial principles and money management. What is a common drawback of using phone cards, debit cards, electronic transfers, and ATM cards? ✔✔ They increase the risk of identity theft. Under what condition is the price of Ca ndy Corporation stock likely to rise?

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