Exam (elaborations)
WISE FINANCIAL LITERACY QUESTIONS AND ANSWERS
- Course
- Institution
WISE FINANCIAL LITERACY QUESTIONS AND ANSWERS
[Show more]
Content preview
Name: Score:49 Multiple choice questions
Term 1 of 49
Comparison shopping for a car is necessary because
the color of the car is the most important factor in pricing.
the price for the car can vary a great deal.
all cars have a fixed price regardless of the dealer.
comparison shopping is only necessary for used cars.
Term 2 of 49
Purchasing power decreases and it costs more money to buy more good when there is an
inflation.
monetary policy.
rent.
economic growth.
Term 3 of 49
A company that sells shares of ownership through a stock exchange to investors is a
private corporation
partnership
sole proprietorship
public corporation
,Term 4 of 49
Which of the following financial products has the highest risk?
Options
Stocks
Bonds
Diversification
Term 5 of 49
A person had an Apple computer that was destroyed in a fire. She was able to buy a new
Apple computer because her insurance policy has the following benefit
market value
replacement value
actual cash value
disposal value
Term 6 of 49
A person earned a salary of $70,000 last year. Additionally, he had $1,000 in interest income
and $2,000 in dividend income. His total income for this year is
$82,000
$60,000
$24,000
$73,000
,Term 7 of 49
An important feature of a good financial goal is that the goal
has a specific time frame.
federal withholding tax and fica.
is appropriate for the person's age.
"a penny saved is a penny earned."
Term 8 of 49
Fixed expenses include
rent.
line
wages.
profit.
Term 9 of 49
A method of reducing investment risk is known as
liquidity
insurance
stocks
diversification
Term 10 of 49
One reason investors purchase stock is to
capital gains
replacement value
increase wealth
earn interest
, Term 11 of 49
Before a person begins investing, he should have
an online course about cryptocurrency trading
a discussion with friends about their investment strategies
a review of the latest stock market trends
a meeting with a licensed financial planner/advisor
Term 12 of 49
Which of the following can help a person lower her personal risk of loss?
Insurance
Diversification
Premium
Comprehensive
Term 13 of 49
A person who dies will have his assets distributed as he wanted as long as he has
a will.
a doctor.
has a specific time frame.
inflation.
Term 14 of 49
The New York Stock Exchange(NYSE) can be described as a
type of investment fund that pools money from multiple investors
marketplace where stocks are bought and sold
government agency that regulates financial institutions
a digital platform for trading cryptocurrencies
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now