WISE Test 2023/ 144 questions and answers
100% verified.
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 unauthorized purchases he is liable for
is: - -$50
-Consumers who file for bankruptcy are still responsible for: - -Tax claims and student
loans
-Which of the following provides an increase in assets or wealth? - -Having capital
gains
-The denominations of coins in the United States are: - -$.01, $.05, $.10, $.25, $.50,
$1.00
-Mutual funds are: - -An investment that holds a wide range of different investment
instruments, providing diversification
-Michele and Claudia have a seven year old son. They won $50,000 on a TV games
show and want to put it away for their son's education. Which of the following has the
highest potential growth and the highest risk? - -Common Stock
-Banks use savings account deposits to: - -Give loans to consumers and businesses
-You have a checking account balance of $100 and you deposit a personal $200 check
from your brother in you checking account. When will you be able to withdraw $150 in
cash? - -3 to 7 days later, depending on your bank's check clearance policy
-Why is term life insurance usually the least expensive type of life insurance? - -The
policy only pays a death benefit
-Neil will be traveling by air in Southeast Asia for six-week vacation. Which step will not
provide protection during the trip? - -Take his passport
-Victims of predatory lending practices are typically: - -The elderly and people with a
poor credit history
-How can you avoid becoming a victim of identity theft? - -Avoid giving your Social
Security number on a phone call you did not initate
-Which of the following statements is usually true about indivuals who are financially
literate? - -They understand the basics of personal finance and money management
, -Which of the following is a disadvantage of using phone cards, debit cards, electronic
transfers, and ATM cards? - -They expose consumers to greater likelihood of identity
theft
-The price of the Candy Corporation Stock will generally increase when there is: - -
Positive news about corporate earnings
-The process of setting aside money and putting it to work by having it earn intrest or
dividends or gain value in the equities market with the idea of having additional funds to
use in the future is described as: - -Savings and Investing
-The most liquid type of investment is: - -A money market account
-Joan wants to open a checking account and wonders if checking accounts pay interest.
How would you answer her question? - -Some types of checking accounts pay interest
-The purpose of Insurance is NOT to: - -Diversify an investment portfolio
-Generally, the higher the deductible on an insurance policy, the - -Lower the premium
-A credit card finance charge is: - -The dollar amount it cost to use credit
-Approximately, what is the annual finance charge for each $100 owed on a credit card
with a 16% annual interest rate (APR)? - -$16.00
-New coins and currency make their way into the general economy, consumers and
businesses, through the distribution system of the: - -Federal Reserve System
-Which of the following provides an increase in assets or wealth? - -Having capital
gains
-A factor that is likely to affect the market price of a stock is: - -Corporate profits
-An investor buys 100 shares of a common stock @ $36.00 a share. The stock is now
selling at $38.00 a share. When deciding whether to hold or sell the stock, which factor
is it important for the investor to consider? - -The commission charged for buying and
selling the stock
-Margaret wants to store a valuable coin collection and important papers. Generally,
consumers should: - -Rent a safe deposit box for their valuebles
-The term used to describe the ease and speed with which you can convert savings or an
investment to cash is: - -Liquidty
-Richard's auto insurance policy ecpired on the 5/15/2002. Richard was upset with his
insurance agent and decided to change insureance companies. At 10:00am on
100% verified.
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 unauthorized purchases he is liable for
is: - -$50
-Consumers who file for bankruptcy are still responsible for: - -Tax claims and student
loans
-Which of the following provides an increase in assets or wealth? - -Having capital
gains
-The denominations of coins in the United States are: - -$.01, $.05, $.10, $.25, $.50,
$1.00
-Mutual funds are: - -An investment that holds a wide range of different investment
instruments, providing diversification
-Michele and Claudia have a seven year old son. They won $50,000 on a TV games
show and want to put it away for their son's education. Which of the following has the
highest potential growth and the highest risk? - -Common Stock
-Banks use savings account deposits to: - -Give loans to consumers and businesses
-You have a checking account balance of $100 and you deposit a personal $200 check
from your brother in you checking account. When will you be able to withdraw $150 in
cash? - -3 to 7 days later, depending on your bank's check clearance policy
-Why is term life insurance usually the least expensive type of life insurance? - -The
policy only pays a death benefit
-Neil will be traveling by air in Southeast Asia for six-week vacation. Which step will not
provide protection during the trip? - -Take his passport
-Victims of predatory lending practices are typically: - -The elderly and people with a
poor credit history
-How can you avoid becoming a victim of identity theft? - -Avoid giving your Social
Security number on a phone call you did not initate
-Which of the following statements is usually true about indivuals who are financially
literate? - -They understand the basics of personal finance and money management
, -Which of the following is a disadvantage of using phone cards, debit cards, electronic
transfers, and ATM cards? - -They expose consumers to greater likelihood of identity
theft
-The price of the Candy Corporation Stock will generally increase when there is: - -
Positive news about corporate earnings
-The process of setting aside money and putting it to work by having it earn intrest or
dividends or gain value in the equities market with the idea of having additional funds to
use in the future is described as: - -Savings and Investing
-The most liquid type of investment is: - -A money market account
-Joan wants to open a checking account and wonders if checking accounts pay interest.
How would you answer her question? - -Some types of checking accounts pay interest
-The purpose of Insurance is NOT to: - -Diversify an investment portfolio
-Generally, the higher the deductible on an insurance policy, the - -Lower the premium
-A credit card finance charge is: - -The dollar amount it cost to use credit
-Approximately, what is the annual finance charge for each $100 owed on a credit card
with a 16% annual interest rate (APR)? - -$16.00
-New coins and currency make their way into the general economy, consumers and
businesses, through the distribution system of the: - -Federal Reserve System
-Which of the following provides an increase in assets or wealth? - -Having capital
gains
-A factor that is likely to affect the market price of a stock is: - -Corporate profits
-An investor buys 100 shares of a common stock @ $36.00 a share. The stock is now
selling at $38.00 a share. When deciding whether to hold or sell the stock, which factor
is it important for the investor to consider? - -The commission charged for buying and
selling the stock
-Margaret wants to store a valuable coin collection and important papers. Generally,
consumers should: - -Rent a safe deposit box for their valuebles
-The term used to describe the ease and speed with which you can convert savings or an
investment to cash is: - -Liquidty
-Richard's auto insurance policy ecpired on the 5/15/2002. Richard was upset with his
insurance agent and decided to change insureance companies. At 10:00am on
