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WISE Personal Finance Test 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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WISE Personal Finance Test 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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Personal Finance WISE Test questions.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Personal%20FinaWISE Personal Finance Test
Questions & Answers
1. If a person makes a deposit of $10,000 or more into a bank account, the bank
must notify the
Answer US Treasury Department
2. The term used to describe the ease and speed with which you can convert
savings or an investment to cash is
Answer Liquidity
3. Which financial product typically pays the highest rate of interest?
Answer Certifi- cate of Deposit
4. What action should a person take who must make a tuition payment at the
end of August each year?
Answer Decide how much money will be needed and then place 1/12 of that amount in
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,Personal Finance WISE Test questions.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Personal%20Fina
a separate account each month
5. A 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
6. Which of the following is considered to be open-end credit?
Answer Department store charge cards
7. To qualify for a Federal Housing Administration (FHA) loan, a person must
generally
Answer fulfill income guidelines
8. A person has three credit cards with very large outstanding balances and is
unable to make payments on any of them. Which action should they take?-
Answer Notify the credit card companies in order to negotiate a new payment plan
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