Wise Test 2023/ 35 Questions and Answers –
100% correct.
When a person brings an item to a pawnshop to obtain cash, the transaction is
considered - -a collateralized loan.
-To qualify for a Federal Housing Administration (FHA) loan, a person must generally
- -fulfill income guidelines.
-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? - -Notify the
credit card companies in order to negotiate a new payment plan.
-Which of the following is considered to be open-end credit? - -Department store
charge cards.
-What is meant by an uncollateralized loan? - -A personal loan without assets to cover
the loan amount.
-Which of the following does the Federal Reserve use to regulate the nation's money
supply? - -Monetary policy
-Money for saving, investing, or spending cannot be from: - -Capital losses from the
sale of stock
-Jami lost her debit card. She did not report it missing for 3 months. If an
unauthorized person used her debit card, her maximum liability is: - -Unlimited
liability
-Susan gives Marie her ABC Credit Union debit card and personal identification
number (PIN) so Marie could get $25 from Susan's bank account. Marie withdrew $100
instead of the agreed to $25. How can Susan get the $75 back? - -No bank or
government agency is obligated to reimburse Susan because she authorized Marie to use
her ATM card and PIN
-A man budgeted $200 a month for clothing. This month the man spent $150 on
clothing therefore that budget item is considered to have - -a budget variance.
-A person complains about how expensive it is to be a cigarette smoker. One of the
reasons cigarettes are so expensive is that - -he government imposes an excise tax on
them.
-A person's debt ratio shows the relationship between debt and net worth. The lower
the ratio the - -better off financially the person is.
-One of the benefits of holding an investment for over a year rather than selling it in
less than a year is that the - -capital gains on the investment will be taxed at a lower
rate.
100% correct.
When a person brings an item to a pawnshop to obtain cash, the transaction is
considered - -a collateralized loan.
-To qualify for a Federal Housing Administration (FHA) loan, a person must generally
- -fulfill income guidelines.
-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? - -Notify the
credit card companies in order to negotiate a new payment plan.
-Which of the following is considered to be open-end credit? - -Department store
charge cards.
-What is meant by an uncollateralized loan? - -A personal loan without assets to cover
the loan amount.
-Which of the following does the Federal Reserve use to regulate the nation's money
supply? - -Monetary policy
-Money for saving, investing, or spending cannot be from: - -Capital losses from the
sale of stock
-Jami lost her debit card. She did not report it missing for 3 months. If an
unauthorized person used her debit card, her maximum liability is: - -Unlimited
liability
-Susan gives Marie her ABC Credit Union debit card and personal identification
number (PIN) so Marie could get $25 from Susan's bank account. Marie withdrew $100
instead of the agreed to $25. How can Susan get the $75 back? - -No bank or
government agency is obligated to reimburse Susan because she authorized Marie to use
her ATM card and PIN
-A man budgeted $200 a month for clothing. This month the man spent $150 on
clothing therefore that budget item is considered to have - -a budget variance.
-A person complains about how expensive it is to be a cigarette smoker. One of the
reasons cigarettes are so expensive is that - -he government imposes an excise tax on
them.
-A person's debt ratio shows the relationship between debt and net worth. The lower
the ratio the - -better off financially the person is.
-One of the benefits of holding an investment for over a year rather than selling it in
less than a year is that the - -capital gains on the investment will be taxed at a lower
rate.
