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Wise Test Review Exam with Complete Solutions
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Wise Test Review Exam with Complete Solutions
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Wise Test Review Exam with Complete SolutionsA credit card is issued to John and Maria Davis. This month, John charges $100 and
Maria makes no charges. When the bill is received who is legally responsible for paying
the $100 - ANSWER-Both John and Maria
A factor that can cause the price of a stock to DECREASE is the company - ANSWER-
lowering its expectations of future earnings.
A good financial goal should - ANSWER-be achievable in five years.
A landlord never received the rent check sent by the renter two weeks ago. What is the
first action the renter should take - ANSWER-Contact the bank to find out if the check
was cashed.
A major reason that corporations issue stock is to - ANSWER-raise money to expand
business activities.
A person has been contributing regularly to her company's 401(k) plan. She decides to
leave the company. It would be financially advisable for her to - ANSWER-move the
money from the 401(k) plan into another qualified retirement plan
A person is looking at his budget to find ways to invest more money. It would be best for
him to - ANSWER-reduce this variable expenses.
A person may need to have liquid assets when - ANSWER-there is an emergency need
for cash
A person receives $200 from an uncle for graduation. This money is considered -
ANSWER-a gift.
A person wants to buy stock in McDonald's. Before buying the stock it is important that
the person consider the - ANSWER-company's potential for making money.
A person wants to open a bank account in his name. He will be required to give the
bank - ANSWER-a state or federal-issued picture identification.
A person's gross pay for this month is $4,000. Why should his monthly budget be less
than $4,000 - ANSWER-Taxes are taken out of his gross pay, reducing the amount of
money he takes home
A role of the Federal Reserve Bank (Fed) is to - ANSWER-influence interest rates.
A service that banks provide is - ANSWER-selling certificates of deposit (CDs).
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