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W!SE Financial Literacy EXAMS BUNDLE | Questions Correctly Answered
W!SE Financial Literacy EXAMS BUNDLE | Questions Correctly Answered
[Show more]W!SE Financial Literacy EXAMS BUNDLE | Questions Correctly Answered
[Show more]Earned Income - ANSWER Income derived from active participation 
in a trade or business, including wages, salary, tips, 
commissions and bonuses. 
Unearned Income - ANSWER Any income that comes from investments and other 
sources unrelated to employment services. Examples: interest from a savings ac...
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Add to cartEarned Income - ANSWER Income derived from active participation 
in a trade or business, including wages, salary, tips, 
commissions and bonuses. 
Unearned Income - ANSWER Any income that comes from investments and other 
sources unrelated to employment services. Examples: interest from a savings ac...
When a person declares bankruptcy that fact will appear on the person?s credit report - 
ANSWER for a 10 year period, 
Most of the adverse information on a credit report appears for 7 years. After a declared 
bankruptcy, the limit is 10 years.
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Add to cartWhen a person declares bankruptcy that fact will appear on the person?s credit report - 
ANSWER for a 10 year period, 
Most of the adverse information on a credit report appears for 7 years. After a declared 
bankruptcy, the limit is 10 years.
Liquidity - ANSWER The ability to convert an asset to cash quickly 
Products that are liquid - ANSWER Stocks and Money Market accounts 
Gift Cards - ANSWER a card that is given as a gift with a specified amount of money. 
There is a monthly inactivity fee that may begin after 12 months. 
Discretiona...
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Add to cartLiquidity - ANSWER The ability to convert an asset to cash quickly 
Products that are liquid - ANSWER Stocks and Money Market accounts 
Gift Cards - ANSWER a card that is given as a gift with a specified amount of money. 
There is a monthly inactivity fee that may begin after 12 months. 
Discretiona...
Which of the following does the Federal Reserve uses to regulate the nation's money 
supply? - ANSWER Monetary Policy Reason: Uses it to regulate the nation's money 
supply. 
Which of the following is a disadvantage of using of using phone cards, debit cards, 
electronic transfers, and ATM cards? ...
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Add to cartWhich of the following does the Federal Reserve uses to regulate the nation's money 
supply? - ANSWER Monetary Policy Reason: Uses it to regulate the nation's money 
supply. 
Which of the following is a disadvantage of using of using phone cards, debit cards, 
electronic transfers, and ATM cards? ...
Which of the following does the Federal Reserve use to regulate the nation's money 
supply? 
C: Monetary policy - ANSWER The Federal Reserve uses monetary policy to regulate 
the nation's money supply. Monetary policy is directed at expanding or contracting the 
supply of money and credit in the U...
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Add to cartWhich of the following does the Federal Reserve use to regulate the nation's money 
supply? 
C: Monetary policy - ANSWER The Federal Reserve uses monetary policy to regulate 
the nation's money supply. Monetary policy is directed at expanding or contracting the 
supply of money and credit in the U...
sources of income - ANSWER wages, rentals, interest, capital, profits, investments, 
entrepreneurship 
Exemption (aka an allowance) and how does it work - ANSWER allowance is used to 
reduce amount of taxed income 
Liquidity—what does it mean; what products are liquid - ANSWER the degree of ease i...
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Add to cartsources of income - ANSWER wages, rentals, interest, capital, profits, investments, 
entrepreneurship 
Exemption (aka an allowance) and how does it work - ANSWER allowance is used to 
reduce amount of taxed income 
Liquidity—what does it mean; what products are liquid - ANSWER the degree of ease i...
To determine the time value of depositing $100 in a savings account, a person needs to 
know the interest rate and - ANSWER B: the rate of inflation. 
Reason : The ?time value of money? is a way of looking at how much a saving or 
investment is worth at the end of a period of time when it is compare...
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Add to cartTo determine the time value of depositing $100 in a savings account, a person needs to 
know the interest rate and - ANSWER B: the rate of inflation. 
Reason : The ?time value of money? is a way of looking at how much a saving or 
investment is worth at the end of a period of time when it is compare...
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