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Exam (elaborations)

WISE FINANCIAL LITERACY TEST 2 QUESTIONS AND ANSWERS

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  • WISE FINANCIAL LITERACY
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  • WISE FINANCIAL LITERACY

WISE FINANCIAL LITERACY TEST 2 QUESTIONS AND ANSWERS

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  • September 24, 2024
  • 46
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WISE FINANCIAL LITERACY
  • WISE FINANCIAL LITERACY
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50 Multiple choice questions

Term 1 of 50
The price of a security may be affected by:

fixed expenses

obligating events

current events

external events

Term 2 of 50
A person buys a homeowner's insurance policy with a $250 deductible, which means the
person will:

not have to pay anything in case of a claim

receive a discount on the insurance premium

have to pay the first $250 which will be deducted from the claim settlement paid by the
insurance company


get a higher claim settlement from the insurance company

Term 3 of 50
A company offers a defined-contribution pension plan which means that upon retirement the
employee will receive:

A fixed monthly payment for life


A percentage of the company's profits each year


The total amount of money contributed plus investments earnings

A lump sum payment at the start of employment

,Term 4 of 50
Expenditures that remain constant from one time period to another are:

finance charge


fixed expenses

variable expenses


periodic expenses

Term 5 of 50
A stock broker or financial consultant:

Current events

Building, land, vehicles

Gives financial advice to clients


Sells money orders and certified checks

Term 6 of 50
Money of saving, investing, or spending cannot be from:

Earning interest on a savings account

Receiving a bonus from work


Capital losses from the sale of stock

Winning a lottery jackpot

Term 7 of 50
A man budgeted $200 a month for clothing. This month the man spent $150 on clothing
therefore that budget item is considered to have:

a budget variance

a balance sheet

a custodial payment

a spending variance

,Term 8 of 50
Buying a treasury bill (T-bill) is best for investors who are looking for:

short-term savings instruments


more of the same stock

a secure, low risk investment

the rate of inflation

Term 9 of 50
Before the Kiss Corporation can issue stocks or bonds, it must register the issue with:

New york Stock Exchange (nyse)


Financial accounting Standards Board (fasb)

Exempt from state and local taxes

Securities and Exchange Commission (SEC)

Term 10 of 50
A person owns a stock that pays a $2.00 a share dividend. If the person chooses to reinvest
that dividend, this means that the $2.00 will go toward buying:

more of the same stock


one of the apartments is not rented

have to pay the first $250 which will be deducted from the claim settlement paid by the
insurance company

a collateralized loan

, Term 11 of 50
A good example of a well-stated financial goal is:

Invest $5,000 in stocks in two years


Spend $5,000 on luxury items in two years

Save $5,000 for a vacation in two years

Pay off $5,000 in credit card debt in two years

Term 12 of 50
What is meant by an uncollateralized loan?

A personal loan without assets to cover the loan amount

A loan secured by property or savings

A loan where the borrower must provide collateral

A loan with multiple guarantors for added security

Term 13 of 50
Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50 a share
on 50% margin. This means that the:

brokerage firm is lending the investor 50% of the money.

brokerage firm is charging the investor 50% commission on the trade.


investor is required to pay 50% of the stock price upfront.

investor is buying the stock at a 50% discount.

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