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WISE CERTIFICATION STUDY GUIDE QUESTIONS AND ANSWERS
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WISE CERTIFICATION STUDY GUIDE QUESTIONS AND ANSWERS
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Name: Score:40 Multiple choice questions
Term 1 of 40
T/F...Identity theft victims should file a report with the police and be sure to get a copy of the
report.
True
Beneficiaries
Deductible
False (?)
Term 2 of 40
Bull market
Extended period of consumer confidence and optimism when stock prices rise.
A time when investors are uncertain about the economy and hold back investments.
A market condition characterized by falling prices and investor fear.
A phase where stock prices are stagnant and show no movement.
Term 3 of 40
What should be included when writing a will?
Benefactor
Beneficial
Stockholders
Beneficiaries
,Term 4 of 40
T/F...Federal Reserve System limits the number of depositors a member bank may have.
Deductible
True
Inflation
False (?)
Term 5 of 40
If a person's hospital bill is $10,000 and the health insurance company pays $9,000, what is the
remaining balance of $1,000 called?
Coinsurance
Deductible
Premium
Fixed Interest Rate Loans
Term 6 of 40
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 invest in high-risk stocks that may lose value quickly.
He should spend the money on immediate personal expenses.
He should purchase collectibles that have no guaranteed return.
He should buy a certificate of deposit that is will mature either in 3 months, 6 months or
a year.
,Term 7 of 40
This protects a person's bank accounts up to $250,000.
SIPC
FDIC
CCC
SEC
Term 8 of 40
Who suffers the least when inflation happens?
Short-term loan
Up-front cash
Beneficiaries
Fixed interest rate loans
Term 9 of 40
What is foreclosure?
A situation where a bank grants a loan for purchasing a new home.
A legal agreement allowing a tenant to occupy a property.
Bank takes ownership of a home due to non-payment by owner.
A process where a homeowner sells their property to pay off debts.
Term 10 of 40
Why does the government tax cigarettes?
Increase revenue and stop people from smoking
To subsidize the production of tobacco products.
To encourage more people to start smoking.
To promote the health benefits of smoking.
, Term 11 of 40
T/F...Federal Reserve System keeps interest rates low to encourage people to borrow.
Deductible
Home Insurance
False (?)
True
Term 12 of 40
If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock?
Beneficiaries
Inflation
Price of stock increases
Home insurance
Term 13 of 40
You budgeted $150 to pay a credit card bill. The bill is for $200. You should pay what amount?
$200
$100
$300
$500
Term 14 of 40
T/F...Consumer Finance companies are for people who are not able to get a loan from a bank
or credit union.
Beneficiaries
Deductible
True
False (?)
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