Wise test Review all topics /160 questions
and answers with complete solutions.
Collateral - -security given for loan, assets to secure the debt
-Capacity - -your ability to repay the debt. Do you have sufficient $money to repay a
loan
-Capital - -"net worth". wealth in the form of money or property owned by a person
-Character - -good reputation, Integrity
-Credit history - -a summary of a person's borrowing and repayment history
-50 dollars - -In the event that your credit card is stolen in the United States, federal
law limits the liability of card holders to ____ regardless of the amount charged on the
card by the unauthorized user.
-zero liability "Owes nothing" - -if just the credit card account number itself is stolen,
federal law guarantees that the card holder has a___________to the issuer.
-EFT - -electronic funds transfer; exchange of money by sending bank records via a
computer network
-FDIC - -the federal government protects your money up to $250,000 in a single
account
-Department store charge cards. - -Which of the following is considered to be open-end
credit?
-Notify the credit card companies - -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
-10 years - -When a person declares bankruptcy that fact will appear on the person?s
credit report
-A personal loan without assets to cover the loan amount - -What is meant by an
uncollateralized loan?
-a collateralized loan - -When a person brings an item to a pawnshop to obtain cash,
the transaction is considered
-Monetary policy - -Which of the following does the Federal Reserve use to regulate the
nation's money supply?
, -Salaries, wages, and tips - -The primary sources of income for most people between
the ages of 20 and 35 who are not living on a pension or social security are:
-better off financially the person is. - -A person's debt ratio shows the relationship
between debt and net worth. The lower the ratio the
-Exercise Tax - -A person complains about how expensive it is to be a cigarette smoker.
One of the reasons cigarettes are so expensive is that
-budget variance - -the difference between the budgeted amount and the actual amount
that you spend
-budget variance - -A man budgeted $200 a month for clothing. This month the man
spent $150 on clothing therefore that budget item is considered to have
-capital gains on the investment will be taxed at a lower rate. - -One of the benefits of
holding an investment for over a year rather than selling it in less than a year is that the
-Federal Reserve System - -New coins and currency make their way into the general
economy, consumers and businesses, through the distribution system of the:
-A: tax and penalty free. - -After five years of owning a Roth Individual Retirement
Account (IRA), a person wants to buy his first home, the person can withdraw money
from the Roth IRA
-80 shares of the stock and the price of each share is $40. - -An investor bought 40
shares of ABC corporation's stock at $80 a share. Two weeks later, the investor receives
notice that the corporation has approved a 2-for-1 stock split. Based on this information,
the investor would own at the moment of the split
-exempt from state and local taxes. - -The interest earned on United States Series EE
Savings Bonds is
-a secure, low risk investment. - -Buying a treasury bill (T-bill) is best for investors who
are looking for
-Securities - -A pharmacy is to drugs as the American Stock Exchange is to:
-dividend reinvestment - -using dividends previously earned on the stock to buy more
shares
-the rate of inflation. - -To determine the time value of depositing $100 in a savings
account, a person needs to know the interest rate and
-A long-term, fixed rate certificate of deposit - -Lamar believes that interest rates are
going to fall in the near future ,She should invest in:
-Compounded interest - -Interest earned on interest is known as:
and answers with complete solutions.
Collateral - -security given for loan, assets to secure the debt
-Capacity - -your ability to repay the debt. Do you have sufficient $money to repay a
loan
-Capital - -"net worth". wealth in the form of money or property owned by a person
-Character - -good reputation, Integrity
-Credit history - -a summary of a person's borrowing and repayment history
-50 dollars - -In the event that your credit card is stolen in the United States, federal
law limits the liability of card holders to ____ regardless of the amount charged on the
card by the unauthorized user.
-zero liability "Owes nothing" - -if just the credit card account number itself is stolen,
federal law guarantees that the card holder has a___________to the issuer.
-EFT - -electronic funds transfer; exchange of money by sending bank records via a
computer network
-FDIC - -the federal government protects your money up to $250,000 in a single
account
-Department store charge cards. - -Which of the following is considered to be open-end
credit?
-Notify the credit card companies - -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
-10 years - -When a person declares bankruptcy that fact will appear on the person?s
credit report
-A personal loan without assets to cover the loan amount - -What is meant by an
uncollateralized loan?
-a collateralized loan - -When a person brings an item to a pawnshop to obtain cash,
the transaction is considered
-Monetary policy - -Which of the following does the Federal Reserve use to regulate the
nation's money supply?
, -Salaries, wages, and tips - -The primary sources of income for most people between
the ages of 20 and 35 who are not living on a pension or social security are:
-better off financially the person is. - -A person's debt ratio shows the relationship
between debt and net worth. The lower the ratio the
-Exercise Tax - -A person complains about how expensive it is to be a cigarette smoker.
One of the reasons cigarettes are so expensive is that
-budget variance - -the difference between the budgeted amount and the actual amount
that you spend
-budget variance - -A man budgeted $200 a month for clothing. This month the man
spent $150 on clothing therefore that budget item is considered to have
-capital gains on the investment will be taxed at a lower rate. - -One of the benefits of
holding an investment for over a year rather than selling it in less than a year is that the
-Federal Reserve System - -New coins and currency make their way into the general
economy, consumers and businesses, through the distribution system of the:
-A: tax and penalty free. - -After five years of owning a Roth Individual Retirement
Account (IRA), a person wants to buy his first home, the person can withdraw money
from the Roth IRA
-80 shares of the stock and the price of each share is $40. - -An investor bought 40
shares of ABC corporation's stock at $80 a share. Two weeks later, the investor receives
notice that the corporation has approved a 2-for-1 stock split. Based on this information,
the investor would own at the moment of the split
-exempt from state and local taxes. - -The interest earned on United States Series EE
Savings Bonds is
-a secure, low risk investment. - -Buying a treasury bill (T-bill) is best for investors who
are looking for
-Securities - -A pharmacy is to drugs as the American Stock Exchange is to:
-dividend reinvestment - -using dividends previously earned on the stock to buy more
shares
-the rate of inflation. - -To determine the time value of depositing $100 in a savings
account, a person needs to know the interest rate and
-A long-term, fixed rate certificate of deposit - -Lamar believes that interest rates are
going to fall in the near future ,She should invest in:
-Compounded interest - -Interest earned on interest is known as:
