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WISE FINANCIAL LITERACY CERTIFICATION TEST TOPIC CHECKLIST QUESTIONS AND ANSWERS
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WISE FINANCIAL LITERACY CERTIFICATION TEST TOPIC CHECKLIST QUESTIONS AND ANSWERS
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Name: Score:63 Multiple choice questions
Definition 1 of 63
stocks, bonds, CD, etc.
which institutions charge the highest interest rate on loans?
institutions that give loans
most and least liquid investments
sources of income
Definition 2 of 63
covers if you are renting and property is damaged or stolen; have to have?
liability coverage
compound interest
renter's insurance
disability insurance
Definition 3 of 63
401k
social security
traditional IRA- pre tax
roth IRA- post tax
retirement plans
debt repayment plans
mutual funds
401k plan
,Definition 4 of 63
stock drops
investment portolio
diversification
inflation
bear market
Definition 5 of 63
when you write a check greater than money you have in your account bank will pay who you
wrote a check to
direct deposit
liquidity
stop payment services
overdraft protection
Definition 6 of 63
covers other people & you when you're at fault;
liability coverage
collision coverage
liability insurance
comprehensive coverage
Definition 7 of 63
when your debt outweighs your income, bank will usually refuse a loan
credit reports
debt to credit ratio
paying bills on time over time
credit card cash advances
,Definition 8 of 63
having more than what you owe
ex: loan and house
securities/ equities
discretionary income
mutual funds
tax anticipation loans
Definition 9 of 63
(like a savings account)
disability insurance
liability coverage
whole-life insurance
out-of-pocket expense
Definition 10 of 63
money
credit reports
treasury bills
mutual funds
treasury bonds
Definition 11 of 63
print money, collect taxes through IRS, look at national debt
what is an advantage of using a credit union?
forms of endorsement for personal check
role of US treasury department
securities/ equities
, Definition 12 of 63
character
capacity
collateral
three C's of credit
documentation Of credit data
purpose of bond
sources of income
Definition 13 of 63
interest on you money
liability coverage
inflation
compound interest
opportunity cost
Definition 14 of 63
interest/72= time it takes to double
sources of income
time value of money
rule of 72
purpose of bond
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