Wise Test Practice Question and answers already passed 2024/2025
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Course
WISE
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WISE
Wise Test Practice Question and answers already passed 2024/2025 Wise Test Practice- Personal Finance
A single person who graduated from college is now employed full time. During the first year, it is highly recommended that this person focus on .. - correct answer establishing an emergency fu...
Wise Test Practice- Personal Finance
A single person who graduated from college is now employed full time. During
the first year, it is highly recommended that this person focus on .. - correct
answer ✔establishing an emergency fund
Checking account overdraft protection at a bank is an optional service that is -
correct answer ✔a short term loan with a high rate of interest
A married couple wants to file for Chapter 13 personal bankruptcy. Which of
the following must be true in order for them to qualify? - correct answer ✔At
least one of the individuals must be earning income when filing for Chapter 13
bankruptcy
Which item can be collateral to secure a loan? - correct answer ✔house
All of the following words describe the use or state of having credit except for -
correct answer ✔grant
The main purpose of requiring a cosigner on a loan is to - correct answer
✔secure the loan if the lead borrower defaults
Once is claim is paid by the insurance company for car damage due to an
accident that was caused by the insured policyholder, the insured person can
usually expect that - correct answer ✔premiums will be increased
When a person with a term life insurance policy dies, which of the following
will a beneficiary receive? - correct answer ✔Face Value
, A factor that affects the price of securities is - correct answer ✔Current
Events
A person wants to buy a house now but does not have all the money needed
to pay for the house. What can he do to get the money he needs? - correct
answer ✔Apply for a mortgage
The financial institution where a person has her checking account will
continue to pay out money for the checks she writes if - correct answer
✔There is enough money in her account to cover the amount of the checks
The largest percentage of funds in bank depositor accounts, after meeting the
Reserve Requirement, is used for - correct answer ✔loans to consumers and
banks
A collateral loan is a personal loan that is - correct answer ✔secured by an
asset that can be sold
A change in interest rates is a result of influence by the - correct answer
✔Federal Reserve System
The qualifications for becoming a certified financial planner (CFP) include -
correct answer ✔passing a 10 hour test and passing required classes
A grandmother recently put $10,000 into an investment account earning 8% a
year for her granddaughter's college education. Using the rule of 72, how
much will be in the account in 18 years, assuming all of the interest is left in
the account? - correct answer ✔$40,000
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