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WISE (Finance Economics) SAMPLE TEST QUESTIONS AND ANSWERS RATED A
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WISE (Finance Economics) SAMPLE TEST QUESTIONS AND ANSWERS RATED A
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WISE (Finance Economics) SAMPLE TESTQUESTIONS AND ANSWERS RATED A.
John Smith, who is financially supporting his 10-year-old daughter, is able
to reduce the amount of tax taken out of his salary by claiming his
daughter as a
Correct Answer -dependent
One DISADVANTAGE of giving someone a cash/gift card is that the
person
Correct Answer -is required to make purchases for the exact value that is
on the card
Selling an investment for more than the purchase price results in a
Correct Answer -capital gain
The amount of money a person owes compared to the total of her
spending limit allowed on her credit card is known as the
Correct Answer -debt to credit ratio
The DISADVANTAGE of taking a loan for the maximum number of
years allowed is that the longer the period of time of the loan, the greater
the
Correct Answer -total cost of the loan
The interest rates for loans at credit unions are generally
Correct Answer -lower.
, The main purpose of paying Social Security Tax (FICA) is to be able to
receive
Correct Answer -money during retirement
The most important reason for having health insurance is that
Correct Answer -medical costs related to serious health care problems are
high
The purpose of investing is to
Correct Answer -increase wealth over time.
The United States Treasury Department changes the appearance of the
country's currency in order to
Correct Answer -prevent hi-tech counterfeiting.
The value of buying insurance for a cell phone is to
Correct Answer -be able to replace the cell phone if it is lost or stolen.
Two year ago, a person bought a ticket to the movies that cost $10.00.
This year a ticket for the movies costs $12.00. This increase is most likely
due to
Correct Answer -inflation
How much additional credit does this credit owner have available on
credit card B?
Correct Answer -$7,000
What is a credit card cash advance?
Correct Answer -A loan from a person's credit card company.
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