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Wise Practice Test Questions Solved 2024
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Wise Practice Test Questions Solved 2024
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Wise Practice Test Questions Solved 2024A person is depositing $20 in cash and a check for $50. On the checking account
deposit slip, the person should - ANSWER-list the cash deposit separately from the
check as well as the total of the deposit.
ATM (Automated Teller Machine) - ANSWER-a computer terminal that you can use to
make deposits, withdraw cash, transfer money between accounts, check your account
balances, and pay some kinds of bills
ATM Pin number - ANSWER-You should never write any PIN on something that might
be stolen. Write your PIN down and keep it in a secure place in your home.
Automobile insurance - ANSWER-covers motor vehicles, including automobiles, trucks,
and motorcycles, the injuries to the driver and passengers
bankruptcy - ANSWER-will appear on the person?s credit report for 10 years
budget variance. - ANSWER-the difference between the budgeted amount and the
actual amount that you spend
capital gains - ANSWER-are profits made from the sale of capital assets such as stocks
and bonds
Capital gains - ANSWER-provides an increase in assets or wealth?
Capital gains - ANSWER-tax deferred until the 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.
cash value for whole life insurance - ANSWER-Policy that accumulates cash value is
more expensive than a policy that does not accumulate cash value
cash value of a whole life insurance - ANSWER-calculated amount of money which
includes the premiums paid as well as the interest on that money.
certificate of deposit - ANSWER-A long-term, fixed rate
Certificate of deposit - ANSWER-has the most predictable income?
certificate of deposit - ANSWER-If you believe interest rates are going to fall in the near
future and remain low for a considerable period of time. You should invest in:
Certificate of deposit - ANSWER-Most certificates of deposit (CDs) are issued with an
interest rate that is fixed at a specified rate for the entire term of the deposit.
, Collateral - ANSWER-tangible asset that is used to secure a loan. In the case of a
mortgage, the actual house or apartment serves as the collateral for that loan.
collateralized loan. - ANSWER-A loan that is secured by collateral, properties or assets
that are subject to seizure on default.
collateralized loan. - ANSWER-When a person brings an item to a pawnshop to obtain
cash, the transaction is considered
common stock - ANSWER-the most basic form of ownership, including voting rights on
major issues, in a company
Credit union - ANSWER-Credit unions are not-for-profit savings and lending financial
institutions, owned by its members
Credit unions - ANSWER-Are insured by National Credit Union Administration
(NCUA),up to $100,000
Credit unions - ANSWER-Credit unions usually pay the highest rates of interest
because they have lower risks and costs of operation. They are not-for-profit
organizations
debit card - ANSWER-Purchases made with your debit card are usually Deducted
immediately from your checking account
debt ratio - ANSWER-calculated by dividing liabilities by net worth
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.
deductible - ANSWER-250 deductible, means the person will have to pay the first $250
which will be deducted from the claim settlement paid by the insurance company.
deductible - ANSWER-the amount of money that the policy holder pays when a claim is
settled.
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
Department store charge cards. - ANSWER-open-end credit
Deposit slips - ANSWER-list the cash deposit separately from the check as well as the
total of the deposit
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