WISE PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED A+
◍ Bank statement.
Answer: A record, usually sent to the account holder once per month,
summarizing all transactions in an account during the time from the
previous statement to the current statement.
◍ Check fraud.
Answer: A check or another negotiable instrument that has been materially
and maliciously altered to effect a fraud. Usually either the name of the
payee or the amount of the check is changed. (altered check)
◍ Money market account.
Answer: A combination savings-investment plan in which money deposited
is used to purchase safe, liquid securities.
◍ Why is term life insurance usually the least expensive type of life
insurance?.
Answer: The policy only pays a death benefit
◍ Checking (account).
Answer: A bank account against which the depositor can drawn checks
payable on demand.
◍ Certified check.
Answer: A check containing certification that the person who issued the
check has sufficient funds on deposit to cover payment.
◍ Line of credit.
Answer: The maximum amount of money the creditor has made available to
you.
◍ A pharmacy is to drugs as the American Stock Exchange is to:.
, Answer: Securities
◍ Safe deposit box.
Answer: A small, secure storage compartment that you can rent in a bank,
usually for $100 a year or less.
◍ A person complains about how expensive it is to be a cigarette smoker. One
of the reasons cigarettes are so expensive is that.
Answer: he government imposes an excise tax on them.
◍ 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.
Answer: a calculated amount of money which includes the premiums paid as
well as the interest on that money.
◍ 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.
Answer: brokerage firm is lending the investor 50% of the money.
◍ A bank Certificate of Deposit is a:.
Answer: Savings instrument that requires a deposit for a period of time
during which there is a penalty for withdrawals
◍ Lucy has no insurance. The situation(s) should she consider insuring against
first are:.
Answer: Losses resulting from an illness, accident, or disability
◍ Cashier's check.
Answer: A check that a bank draws on its own funds.
◍ The "Rule of 72" is an easy way to:.
Answer: Calculate how fast your savings will double in value at given
interest rates
◍ Before the Kiss Corporation can issue stocks or bonds, it must register the
issue with:.
Answer: The Securities and Exchange Commission (SEC)
QUESTIONS WITH ANSWERS GRADED A+
◍ Bank statement.
Answer: A record, usually sent to the account holder once per month,
summarizing all transactions in an account during the time from the
previous statement to the current statement.
◍ Check fraud.
Answer: A check or another negotiable instrument that has been materially
and maliciously altered to effect a fraud. Usually either the name of the
payee or the amount of the check is changed. (altered check)
◍ Money market account.
Answer: A combination savings-investment plan in which money deposited
is used to purchase safe, liquid securities.
◍ Why is term life insurance usually the least expensive type of life
insurance?.
Answer: The policy only pays a death benefit
◍ Checking (account).
Answer: A bank account against which the depositor can drawn checks
payable on demand.
◍ Certified check.
Answer: A check containing certification that the person who issued the
check has sufficient funds on deposit to cover payment.
◍ Line of credit.
Answer: The maximum amount of money the creditor has made available to
you.
◍ A pharmacy is to drugs as the American Stock Exchange is to:.
, Answer: Securities
◍ Safe deposit box.
Answer: A small, secure storage compartment that you can rent in a bank,
usually for $100 a year or less.
◍ A person complains about how expensive it is to be a cigarette smoker. One
of the reasons cigarettes are so expensive is that.
Answer: he government imposes an excise tax on them.
◍ 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.
Answer: a calculated amount of money which includes the premiums paid as
well as the interest on that money.
◍ 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.
Answer: brokerage firm is lending the investor 50% of the money.
◍ A bank Certificate of Deposit is a:.
Answer: Savings instrument that requires a deposit for a period of time
during which there is a penalty for withdrawals
◍ Lucy has no insurance. The situation(s) should she consider insuring against
first are:.
Answer: Losses resulting from an illness, accident, or disability
◍ Cashier's check.
Answer: A check that a bank draws on its own funds.
◍ The "Rule of 72" is an easy way to:.
Answer: Calculate how fast your savings will double in value at given
interest rates
◍ Before the Kiss Corporation can issue stocks or bonds, it must register the
issue with:.
Answer: The Securities and Exchange Commission (SEC)
