Wise Practice Test Exam Questions With
100% Correct Answers 2024/2025
If a fire happens to someone's house that they own, what type of insurance will pay for the damage
most likely?
Homeowners insurance
If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock?
Price of stock will decrease
Why is a stock characterized as a "growth" stock?
The corporation is expected to increase significantly in revenues and earnings.
An example of a long-term investment is:
Investing in mutual funds or stocks or bonds
T/F....Debit card puchases should be recorded in a checkbook register.
True
Why does the government put an excise tax on cigarettes?
Increase revenue (money come in) and stop people from smoking
Roy Williams has $1,000 to invest. He is thinking that interest rates or rates of return will increase
during the year. What should he buy?
He should buy a certificate of deposit that will mature either in 3 months, 6 months or a year so he
can get a new one when the rates are higher later.
When buying stock, what should you be aware of?
If the price of the stock will go up or down.
Why would people be warned against taking payday loans?
People get trapped into re-borrowing over and over again (paying one loan off with another loan).
What should be included when writing a will?
Beneficiaries
What is a benefit of paying bills automatically from a bank account?
Bills are paid on time
What is the purpose of renters insurance?
Protect your personal property
As it relates to a budget, what is a surplus?
Extra money that is left over once all expenses are budgeted.
100% Correct Answers 2024/2025
If a fire happens to someone's house that they own, what type of insurance will pay for the damage
most likely?
Homeowners insurance
If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock?
Price of stock will decrease
Why is a stock characterized as a "growth" stock?
The corporation is expected to increase significantly in revenues and earnings.
An example of a long-term investment is:
Investing in mutual funds or stocks or bonds
T/F....Debit card puchases should be recorded in a checkbook register.
True
Why does the government put an excise tax on cigarettes?
Increase revenue (money come in) and stop people from smoking
Roy Williams has $1,000 to invest. He is thinking that interest rates or rates of return will increase
during the year. What should he buy?
He should buy a certificate of deposit that will mature either in 3 months, 6 months or a year so he
can get a new one when the rates are higher later.
When buying stock, what should you be aware of?
If the price of the stock will go up or down.
Why would people be warned against taking payday loans?
People get trapped into re-borrowing over and over again (paying one loan off with another loan).
What should be included when writing a will?
Beneficiaries
What is a benefit of paying bills automatically from a bank account?
Bills are paid on time
What is the purpose of renters insurance?
Protect your personal property
As it relates to a budget, what is a surplus?
Extra money that is left over once all expenses are budgeted.
