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Wise Practice Test Questions And Accurate Answers Latest Update
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Wise Practice Test Questions And Accurate Answers Latest Update...
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Wise Practice Test Questions And Accurate AnswersLatest Update
budget variance. - The answer is the difference between the budgeted amount and the
actual amount you spend
debt ratio - Answer shows the relationship between debt and net worth.
debt ratio - Answer The lower the ratio the better off financially the person is.
debt ratio -Answer calculated by dividing liabilities by net worth
excise tax - government levies a tax on specific products and services, alcohol for
instance, cigarette, gas, airline
capital gains - gains realized from the sale of capital assets; stocks and bonds
Capital gains-tax is not paid until asset is sold
Capital Gains Tax- Answer If held over one year are considered long-term capital gains
and are taxed at a lower tax rate or in some cases are not taxed at all.
variable expenses- Answer change from one period to another,examples Electricity and
food expenditures
seek advice from your friends- Answer will be of least help to you in managing your
money?
Financial planning - Answer the process of developing and implementing a coordinated
series of actions to achieve financial success.
Financial planning - Answer need to be reviewed and adjusted to accommodate
changing needs and goals.
, emergency fund - Answer Should be an important consideration when saving money
liquidity - Answer being in cash or easily convertible to cash, How easily an asset can be
converted into cash
Social Security - Answer benefits depends on the person?s earnings over a lifetime of
work
Department store charge cards. - Answer open-end credit
Department store charge cards. - Answer is a revolving live of credit that is offered by
banks There is a limit set on the line of credit and the funds
mortgage loan - Answer closed-end credit,made at a specified interest rate for a
specified time period.
collateralised loan. - Answer The loan is secured with collateral, properties, or assets
up for seizure in case of default.
Collateralized loan. - Answer Anytime a person brings an item to a pawnshop in order to
get cash, one could consider the transaction to be
Federal Housing Administration (FHA) loan - Answer insures lenders who make
mortgage loans that are riskier than regular bank loans because
unsecured loan - Solution A personal loan that is not covered by assets equal to the loan
amount.
Collateral - Solution physical asset used to secure a loan. For instance, if a person takes
out a mortgage, that actual house or apartment is the collateral for that loan.
bankruptcy - Solution will be on the person's credit report for 10 years
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