WISE COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ Which of the following careers would be a possible choice for someone
interested in money and finance?.
Answer: Banker
◍ T/
F. ..Federal Reserve System keeps interest rates low to encourage people to
borrow..
Answer: True
◍ Money set aside to grow is typically called:.
Answer: Savings or investments.
◍ Who suffers the least when inflation happens?.
Answer: Fixed interest rate loans
◍ Julian is a single and recent college graduate who just got his first full-time
job. Which of the following should be his first financial goal?.
Answer: Establishing a fund for emergencies.
◍ If a person starts investing money at the age of 27 at 3% of $40,000, and
another person starts investing at the age of 50 at 3% of $55,000, who will
have more money at the age of 70 assuming that the money is
compounded?.
Answer: The person who started investing at the age of 27 (?)-Money
invested at 25 versus money invested at 50.-Invested money has longer
period of time to compound and benefit from investment gains.
◍ Why does the government tax cigarettes?.
, Answer: Increase revenue and stop people from smoking
◍ What should be included when writing a will?.
Answer: Beneficiaries
◍ An important consideration when saving money for emergencies is:.
Answer: High degree of safety and liquidity.
◍ Bull market.
Answer: Extended period of consumer confidence and optimism when stock
prices rise.
◍ In terms of their finances, when a couple has a baby, they will....
Answer: Receive an additional tax exemption because of the baby.
◍ Advantage of buying stocks that pay dividends..
Answer: Dividends can be paid on a regular basis.
◍ What is the purpose of renters insurance?.
Answer: Protect property
◍ Goals:.
Answer: Need to be realistic, have a target date, and, if possible, an
associated cost.
◍ T/
F. ..Consumer Finance companies are for people who are not able to get a
loan from a bank or credit union..
Answer: True
◍ Something you are working to achieve within a defined period of time is a:.
Answer: Goal.
◍ T/
F. ..the interest rate on a secured loan will typically be lower than the
interest rate on a personal loan..
Answer: True
◍ You budgeted $150 to pay a credit card bill. The bill is for $200. You should
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ Which of the following careers would be a possible choice for someone
interested in money and finance?.
Answer: Banker
◍ T/
F. ..Federal Reserve System keeps interest rates low to encourage people to
borrow..
Answer: True
◍ Money set aside to grow is typically called:.
Answer: Savings or investments.
◍ Who suffers the least when inflation happens?.
Answer: Fixed interest rate loans
◍ Julian is a single and recent college graduate who just got his first full-time
job. Which of the following should be his first financial goal?.
Answer: Establishing a fund for emergencies.
◍ If a person starts investing money at the age of 27 at 3% of $40,000, and
another person starts investing at the age of 50 at 3% of $55,000, who will
have more money at the age of 70 assuming that the money is
compounded?.
Answer: The person who started investing at the age of 27 (?)-Money
invested at 25 versus money invested at 50.-Invested money has longer
period of time to compound and benefit from investment gains.
◍ Why does the government tax cigarettes?.
, Answer: Increase revenue and stop people from smoking
◍ What should be included when writing a will?.
Answer: Beneficiaries
◍ An important consideration when saving money for emergencies is:.
Answer: High degree of safety and liquidity.
◍ Bull market.
Answer: Extended period of consumer confidence and optimism when stock
prices rise.
◍ In terms of their finances, when a couple has a baby, they will....
Answer: Receive an additional tax exemption because of the baby.
◍ Advantage of buying stocks that pay dividends..
Answer: Dividends can be paid on a regular basis.
◍ What is the purpose of renters insurance?.
Answer: Protect property
◍ Goals:.
Answer: Need to be realistic, have a target date, and, if possible, an
associated cost.
◍ T/
F. ..Consumer Finance companies are for people who are not able to get a
loan from a bank or credit union..
Answer: True
◍ Something you are working to achieve within a defined period of time is a:.
Answer: Goal.
◍ T/
F. ..the interest rate on a secured loan will typically be lower than the
interest rate on a personal loan..
Answer: True
◍ You budgeted $150 to pay a credit card bill. The bill is for $200. You should
