Wise practice test credit - Study guides, Class notes & Summaries

Wise Practice Test 1 50 Questions and Answers 100% Pass When someone deposits at least $10,000 into their bank account, which government agency must be informed? US Treasury Department Which organization guarantees up to $100,000 per depositor in a single credit union? National Credit Union Association (NCUA) Which type of financial institution benefits from the insurance provided by the National Credit Union Association (NCUA)? Credit union How do travelers checks operate,...

WISE PRACTICE TEST CREDIT NEW UPDATE 2023 100% PASSED SOLUTION When a person declares bankruptcy that fact will appear on the person?s credit report uestion 2 : A person has three credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should the person take? Question 3 : Which of the following is considered to be open-end credit? Question 4 : To qualify for a Federal Housing Administration (FHA) loan, a person must generally...

Banking Wise Practice Test Questions with Verified Solutions What must a bank do when a deposit of $10,000 or more is made? Report the transaction to the US Treasury Department. This measure helps monitor large sums and ensure they are not from untaxed or illegal activities. Which organization insures accounts held in credit unions? The National Credit Union Administration (NCUA), which insures up to $100,000 per depositor in each credit union. Why should James cash his paycheck at his b...

Economics and Personal Finance Wise Test Practice With Complete Solutions What should you check on a $200 gift card before using it? Review the terms or packaging for details on any inactivity fees. When assessing credit card offers, what is the key factor to consider? The annual percentage rate (APR) of the card. For a car loan with a 10% interest rate, when is the loan's total cost minimized? When repaid over 3 years. Which financial practice reflects an understanding of the t...

Wise Practice Test Exam Questions With 100% Correct Answers 2024/2025 One of Andre's seldom-used credit cards has been stolen without his knowledge. When he gets his monthly statement, he realizes that someone else has been using the card and reports it stolen. The maximum amount of the unauthorized purchases he is he liable for is: c.The total amount b.$50 d.$25 B Why is term life insurance usually the least expensive type of life insurance? a. The policy only pays a death benefit b...

Wise Financial Literacy Practice Test Questions and Answers (Graded A)Wise Financial Literacy Practice Test Questions and Answers (Graded A)Wise Financial Literacy Practice Test Questions and Answers (Graded A)Wise Financial Literacy Practice Test Questions and Answers (Graded A)Wise Financial Literacy Practice Test Questions and Answers (Graded A) If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the - ANSWER-A: US Treasury Department. In order to track l...

Wise 50 ?'s Practice test 1|Complete with A+ Graded Answers US Treasury Department If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the National Credit Union Association (NCUA) insures each depositor's accounts up to $100,000 in one credit union Credit union Are insured by National Credit Union Association (NCUA) Travelers checks Function as cash and are easily replaced if lost The Fed is short for The Federal Reserve System ...

WISE- Practice Test #6 – Credit | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS To qualify for a Federal Housing Administration (FHA) loan, a person must generally A. have at least a high school diploma. B. have one-quarter of the cost of the home for a down-payment. C. fulfill income guidelines. D. provide two individuals to co-sign the loan. - Answer -Correct Answer C Reason The Federal Housing Administration (FHA) insures lenders who make mortgage loans tha...

WISE Test Practice Questions and Answers Update Already Passed When money is not used and goods and services are exchanged for other goods and services, this system is called: - Answer- Barter David bought stock for $4,000 and one year later he sold it for $1,000. The sale resulted in a: - Answer- Capital loss Money orders are: - 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. ...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the indi...