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WISE (Finance Economics) FREQUENTLY TESTED EXAM QUESTIONS CORRECTLY ANSWERED.
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WISE (Finance Economics) FREQUENTLY TESTED EXAM QUESTIONS CORRECTLY ANSWERED.
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WISE (Finance Economics) FREQUENTLYTESTED EXAM QUESTIONS CORRECTLY
ANSWERED.
When money is not used and goods and services are exchanged for other
goods and services, this system is called:
Correct Answer -Barter
David bought stock for $4,000 and one year later he sold it for $1,000. The
sale resulted in a:
Correct Answer -Capital loss
Money orders are:
Correct Answer -A purchased certificate to pay a specified amount to a
specific payee
Ellen, Barbara, and Paul all charged $1,000 on their credit cards last year.
Who paid the most in finance charges?
Correct Answer -Paul, who only pays the minimum amount each month
Troy has $50 a month transferred electronically from his checking account
to his savings account. The is an example of:
Correct Answer -A savings plan
A blank endorsement on a check:
Correct Answer -Creates a check that can be cashed by anyone
,Mr. Akon's wife died. The money he received as the beneficiary on her life
insurance is called the:
Correct Answer -Death benefit or face value
Judi and Phil had a joint VISA credit card while they were married. They are
now divorced. Who is responsible for the balance owed on the VISA card?
Correct Answer -Both Judi and Phil
Jane opened her credit card bill and was surprised by the amount she owed.
She cannot pay the full amount of the bill this month. The lowest dollar
amount Jane is required to pay by the credit card company is the:
Correct Answer -Minimum payment
When the market has a steady decline in stock prices over a period of time,
it is known as a:
Correct Answer -Bear market
Insurance is frequently described as a method of "sharing the risk" because
the"
Correct Answer -Insured share
A creditor determines your creditworthiness on:
Correct Answer -Character, collateral, and capacity
, Using someone else's money, promising to repay at a future date, and paying
a fee for use of the money is the definition for:
Correct Answer -Credit
Sara has invested in corporate bonds which are:
Correct Answer -Loans to the issuer of the bond
Most Consumer Credit Counseling Services (CCCS):
Correct Answer -Charge a fee for setting up and administering a debt
repayment plan
When a corporation or governement agency borrows money from an investor
and pays intrerest and principal to that same investor, it is a:
Correct Answer -Bond
Frankie's savings account has earned a lot of interest. He wants to know if he
must pay taxes on the interest earned. What would the IRS tell him?
Correct Answer -Savings account interest is taxable
Which of the following investment products is guaranteed by the federal
government?
Correct Answer -U.S. Treasury notes
You can continue to charge purchases on your credit card when:
Correct Answer -The amount you owe on the card is below your credit limit.
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