WISE TEST LATEST REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) AGRADE.

It is usually a good idea to borrow for? - ANSWER something that increase in value over time A person generally pays a lower interest rate on a car loan than on a personal loan because the? - ANSWER car is collateral for the loan The federal reserve system (FED) helps protect depositors and its member banks by setting? - ANSWER requirements as to the amount of money a member bank must have a deposit The reason that a person should AVOID making a check payable to "cash" is that? - ANSWER anyone can cash the check if it is stolen The government taxes cigarettes in order to raise revenue and to? - ANSWER discourage smoking A person refuses to open a savings account because he worries that the bank will fail and he will lose all of his money. What does this person need to know? - ANSWER accounts at the Federal Deposit Insurance Corporation (FDIC) member banks are insured up to $250,000 What is a good strategy to build wealth for the future? - ANSWER Deposit money into both savings and investment accounts each month When applying for a loan, the higher a person's credit score/rating the? - ANSWER lower the interest rate will be for the loan