Exam (elaborations)
Wise Test Questions & Answers 100% Solved
- Course
- Institution
Wise Test Questions & Answers 100% Solved
[Show more]
Content preview
Wise Test Questions & Answers 100%Solved
A pharmacy is to drugs as the American Stock Exchange is to: Correct Ans-Securities
Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50 a share
on 50% margin. This means that the Correct Ans-brokerage firm is lending the investor 50%
of the money.
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 Correct Ans-80 shares of the
stock and the price of each share is $40.
To determine the time value of depositing $100 in a savings account, a person needs to know
the interest rate and Correct Ans-the rate of inflation.
The "Rule of 72" is an easy way to: Correct Ans-Calculate how fast your savings will double in
value at given interest rates
The information that a lender must disclose to consumers applying for a cash loan is: Correct
Ans-The annual percentage rate (APR), and/or the finance charge
, Interest earned on interest is known as: Correct Ans-Compounded interest
If a person has $1,000 in a savings account and earns $20 a year in interest on that account, the
rate of return on the money is close to Correct Ans-2%.
For the past five years, a person has had a $20,000 whole life insurance policy that has a cash
value clause. The person decides to surrender the policy. At the time of surrender, the person
will receive Correct Ans-a calculated amount of money which includes the premiums paid as
well as the interest on that money.
A woman has just received a very expensive piece of jewelry. The woman has homeowner's
insurance. Which statement would it be most appropriate for her to make to her insurance
agent? Correct Ans-"I think I need a personal property floater."
A person buys a flat screen, plasma, theater-like television. The person has homeowner?s
insurance. Why would it be appropriate to add a personal property floater to that insurance?
Correct Ans-To cover the cost of replacement should the television get damaged or stolen.
Why is term life insurance usually the least expensive type of life insurance? Correct Ans-The
policy only pays a death benefit
Lucy has no insurance. The situation(s) should she consider insuring against first are: Correct
Ans-Losses resulting from an illness, accident, or disability
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GOLDTUTORS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
70713 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now
