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Wise Test Comprehensive Review (all topics) 2024/2025
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Wise Test Comprehensive Review (all topics) 2024/2025
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Wise Test Comprehensive Review (alltopics) 2024/2025
10 years - ANSWER-When a person declares bankruptcy that fact will appear on the
person?s credit report
50 dollars - ANSWER-In the event that your credit card is stolen in the United States,
federal law limits the liability of card holders to ____ regardless of the amount charged
on the card by the unauthorized user.
80 shares of the stock and the price of each share is $40. - ANSWER-An investor
bought 40 shares of ABC corporation's stock at $80 a share. Two weeks later, the
investor receives notice that the corporation has approved a 2-for-1 stock split. Based
on this information, the investor would own at the moment of the split
a collateralized loan - ANSWER-When a person brings an item to a pawnshop to obtain
cash, the transaction is considered
A long-term, fixed rate certificate of deposit - ANSWER-Lamar believes that interest
rates are going to fall in the near future ,She should invest in:
A personal loan without assets to cover the loan amount - ANSWER-What is meant by
an uncollateralized loan?
a secure, low risk investment. - ANSWER-Buying a treasury bill (T-bill) is best for
investors who are looking for
A: tax and penalty free. - ANSWER-After five years of owning a Roth Individual
Retirement Account (IRA), a person wants to buy his first home, the person can
withdraw money from the Roth IRA
Appreciation - ANSWER-a general increase in the value of property that occurs over
time
ATM - ANSWER-Automated Teller Machine that is electronically connected to an
individual's bank account
ATM Card - ANSWER-a magnetic card used in an ____ machine to deposit or withdraw
money.
Auto Loan - ANSWER-A loan that is issued for the purpose of buying a car.
Automatic Teller Machine - ANSWER-Machine, which allows a person to make a
deposit or withdrawal from their account without having to go to the bank.
, Automobile insurance - ANSWER-covers motor vehicles, including automobiles, trucks,
and motorcycles, the injuries to the driver and passengers
Balance - ANSWER-The amount of money remaining in a bank account.
Balance a Checkbook - ANSWER-when the amount of money in the checking account
is the same as the bank's records.
Beneficiary - ANSWER-A survivor who receives all or part of the money from a life
insurance policy.
better off financially the person is. - ANSWER-A person's debt ratio shows the
relationship between debt and net worth. The lower the ratio the
Big Board - ANSWER-A nickname for the New York Stock Exchange (NYSE)
blank endorsement - ANSWER-anyone can cash the check after the check has been
signed
blue chip stock - ANSWER-stock from large companies, less risk
blue chip stock - ANSWER-stock from large companies, less risk
Bodily Injury - ANSWER-Covers medical, lost wages, etc. to people injured in the other
car if you are at fault.
bond - ANSWER-a certificate of debt given by a company or government that entitles
the bondholder to the original amount plus interest paid by a set date
Bond - ANSWER-a certificate representing a promise to pay a definite amount of money
at a stated interest rate on a specified due date
Bond Principal - ANSWER-The face value of a bond.
Bouncing a Check - ANSWER-Writing a check from an account for more money than is
currently in the account, and the bank returns it to the place where it was cashed.
Budget - ANSWER-A plan for making and spending money
budget variance - ANSWER-A man budgeted $200 a month for clothing. This month the
man spent $150 on clothing therefore that budget item is considered to have
budget variance - ANSWER-the difference between the budgeted amount and the
actual amount that you spend
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