Wise Practice Test Exam Questions With
100% Correct Answers 2024/2025
Us currency
Not backed by gold; has value based on the confidence in and strength of the us government
Barter
Exchange with goods and services, not money
Role of the us department of treasury
Printing money
Factors that influence income
Job opportunities, employment developments, inflation & deflation, recession & depression, taxation
Type of imvestment where interest rates may increase
Short term savings
Truth in lending act
Federal law that requires the cost of credit to be disclosed to consumers in bold print on loan
agreement
Which investment would you choose today if you believe interest rates will go up?
Short term savings instruments
Which of the following is the federal law that requires the cost of credit be disclosed to consumers in
bold print on agreement?
The truth in lending Act
A person is convinced that a lending institution is charging too much interest for a loan. This person
should be aware that...
Charging excessive interest rates in a loan is known as usury and that practice is prohibited by law
If a person has $1000 on a savings account and earn $20 a year in interest on that account, the rate of
return on the money is close to...
%2
The information that a lender must disclose to consumers applying for a cash loan is...
Consumers must be told annual percentage rate (APR) l, the finance charge, any special loan terms for
mortgages
Money receives today is worth more than the same amount of money received sometime in the
future is...
Time value money is the concept that Money received today is worth more than the same amount of
money received in the future
100% Correct Answers 2024/2025
Us currency
Not backed by gold; has value based on the confidence in and strength of the us government
Barter
Exchange with goods and services, not money
Role of the us department of treasury
Printing money
Factors that influence income
Job opportunities, employment developments, inflation & deflation, recession & depression, taxation
Type of imvestment where interest rates may increase
Short term savings
Truth in lending act
Federal law that requires the cost of credit to be disclosed to consumers in bold print on loan
agreement
Which investment would you choose today if you believe interest rates will go up?
Short term savings instruments
Which of the following is the federal law that requires the cost of credit be disclosed to consumers in
bold print on agreement?
The truth in lending Act
A person is convinced that a lending institution is charging too much interest for a loan. This person
should be aware that...
Charging excessive interest rates in a loan is known as usury and that practice is prohibited by law
If a person has $1000 on a savings account and earn $20 a year in interest on that account, the rate of
return on the money is close to...
%2
The information that a lender must disclose to consumers applying for a cash loan is...
Consumers must be told annual percentage rate (APR) l, the finance charge, any special loan terms for
mortgages
Money receives today is worth more than the same amount of money received sometime in the
future is...
Time value money is the concept that Money received today is worth more than the same amount of
money received in the future
