WISE Practice Test 1 Exam Questions With 100% Correct Answers 2024/2025
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WISE Practice Test 1 Exam Questions With 100% Correct Answers 2024/2025
When an unmarried individual makes a contribution to a Roth Individual Retirement Account (IRA) it is
D: Not currently tax deductible.
A Roth IRA allows a $3000 annual contribution; $3500 if the individual is over 50 years...
WISE Practice Test 1 Exam Questions With
100% Correct Answers 2024/2025
When an unmarried individual makes a contribution to a Roth Individual Retirement Account (IRA) it
is
D: Not currently tax deductible.
A Roth IRA allows a $3000 annual contribution; $3500 if the individual is over 50 years of age. which is
not tax deductible
A student's grandmother has decided to buy a long term health care insurance policy. The student's
grandmother's decision is most likely related to the fact that this type of coverage
is not offered by Medicare.
In terms of taxes, when stock dividends are reinvested, the owner of the stock
still has to pay income taxes on the dividends..
When an investor buys a zero-coupon bond, the investor
purchases the bond at a discount from the face value of the bond.
Before the Kiss Corporation can issue stocks or bonds, it must register the issue with:
The Securities and Exchange Commission (SEC)
Which type of financial institution usually pays the highest rate of interest on savings account
balances?
An initial public offering of stock
To determine the time value of depositing $100 in a savings account, a person needs to know the
interest rate and
the rate of inflation
The information that a lender must disclose to consumers applying for a cash loan is:
The annual percentage rate (APR), and/or the finance charge
For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value
clause. The person decides to surrender the policy. At the time of surrender, the person will receive
a calculated amount of money which includes the premiums paid as well as the interest on that
money.
A person places $1,000 in an investment that is considered a tax shelter. Because it is a tax shelter the
person can expect
immediate tax benefits from the investment.
The "Rule of 72" is an easy way to:
Calculate how fast your savings will double in value at given interest rates
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