Wise practice test taxes Study guides, Class notes & Summaries

WISE Practice Test 1 Exam Questions With 100% Correct Answers 2024/2025 When an unmarried individual makes a contribution to a Roth Individual Retirement Account (IRA) it is - answerD: Not currently tax deductible. A Roth IRA allows a $3000 annual contribution; $3500 if the individual is over 50 years of age. which is not tax deductible A student's grandmother has decided to buy a long term health care insurance policy. The student's grandmother's decision is most likely related to the...

WISE Practice Test 1 Exam Questions With 100% Correct Answers 2024/2025 When an unmarried individual makes a contribution to a Roth Individual Retirement Account (IRA) it is D: Not currently tax deductible. A Roth IRA allows a $3000 annual contribution; $3500 if the individual is over 50 years of age. which is not tax deductible A student's grandmother has decided to buy a long term health care insurance policy. The student's grandmother's decision is most likely related to the fact...

WISE Practice Test 2 Exam Questions With 100% Correct Answers 2024/2025 What should a person do when he believes he is being charged too high a rate of interest for a loan by a lending institution? Notify the lending institution about state usury laws. Which is the best example of a way to reduce fees paid for ATM transactions? When making supermarket purchases with a debit card, a person adds $50 in cash to the transaction instead of using an ATM machine. A person owns a stock tha...

Wise Practice test Exam Questions With 100% Correct Answers 2024/2025 Debbie owns a clothing store. She is concerned that a customer who is injured in the store will sue. Which type of insurance should Debbie purchase? - answerLiability insurance Richard's auto insurance policy expired on 5/15/2002. Richard was upset with his insurance agent and decided to change insurance companies. At 10:00 a.m. on 5/16/2002, as he drove to a different agent to buy a new policy, he had an accident. Who ...

Banking Wise Practice Test Exam Questions with 100% Correct Answers 2024 If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the US Treasury Department- In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Some concerns may be that a person might be trying to avoid paying taxes on game winnings or perhaps illegal gains The National Credit Union Administration (NCUA) i...

WISE- Practice Test #2 – Investing Exam Questions With 100% Correct Answers 2024/2025 A pharmacy is to drugs as the American Stock Exchange is to: A. Interest B. Stock advisors C. Securities D. Mutual funds C Reason A pharmacy, run by a licensed pharmacist, is authorized by a state government to fill prescription orders. A stock or bond exchange is where registered stockbrokers buy and sell securities such as stocks or bonds (fill orders) for investors. Exchanges are similar to other m...

Banking Wise Practice Test Exam Questions with 100% Correct Answers 2024 If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the - answerUS Treasury Department- In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Some concerns may be that a person might be trying to avoid paying taxes on game winnings or perhaps illegal gains The National Credit Union Administration ...

WISE Financial Literacy Certification Test Practice Study Guide. Sources of Income - answerWages, rentals, interest, capital, profit, investments, entrepreneurship Exemption (allowance) and how it works - answerAllowance is used to reduce amount of taxed income Liquidity - answerThe degree of ease in which the assets can be sold Gift cards and how they work (a monthly inactivity fee may begin after 12 months) - answerclosed loop system and open loop system Discretionary income or budget...

Banking Wise Practice Test Exam Questions with 100% Correct Answers 2024 If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the - answerUS Treasury Department- In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Some concerns may be that a person might be trying to avoid paying taxes on game winnings or perhaps illegal gains The National Credit Union Administration ...

Wise Practice test Exam Questions With 100% Correct Answers 2024/2025 Debbie owns a clothing store. She is concerned that a customer who is injured in the store will sue. Which type of insurance should Debbie purchase? - answerLiability insurance Richard's auto insurance policy expired on 5/15/2002. Richard was upset with his insurance agent and decided to change insurance companies. At 10:00 a.m. on 5/16/2002, as he drove to a different agent to buy a new policy, he had an accident. Who ...