Exam (elaborations)
WISE FINANCIAL LITERACY QUESTIONS AND ANSWERS
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WISE FINANCIAL LITERACY QUESTIONS AND ANSWERS
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Name: Score:49 Multiple choice questions
Term 1 of 49
Comparison shopping for a car is necessary because
the color of the car is the most important factor in pricing.
the price for the car can vary a great deal.
all cars have a fixed price regardless of the dealer.
comparison shopping is only necessary for used cars.
Term 2 of 49
Purchasing power decreases and it costs more money to buy more good when there is an
inflation.
monetary policy.
rent.
economic growth.
Term 3 of 49
A company that sells shares of ownership through a stock exchange to investors is a
private corporation
partnership
sole proprietorship
public corporation
,Term 4 of 49
Which of the following financial products has the highest risk?
Options
Stocks
Bonds
Diversification
Term 5 of 49
A person had an Apple computer that was destroyed in a fire. She was able to buy a new
Apple computer because her insurance policy has the following benefit
market value
replacement value
actual cash value
disposal value
Term 6 of 49
A person earned a salary of $70,000 last year. Additionally, he had $1,000 in interest income
and $2,000 in dividend income. His total income for this year is
$82,000
$60,000
$24,000
$73,000
,Term 7 of 49
An important feature of a good financial goal is that the goal
has a specific time frame.
federal withholding tax and fica.
is appropriate for the person's age.
"a penny saved is a penny earned."
Term 8 of 49
Fixed expenses include
rent.
line
wages.
profit.
Term 9 of 49
A method of reducing investment risk is known as
liquidity
insurance
stocks
diversification
Term 10 of 49
One reason investors purchase stock is to
capital gains
replacement value
increase wealth
earn interest
, Term 11 of 49
Before a person begins investing, he should have
an online course about cryptocurrency trading
a discussion with friends about their investment strategies
a review of the latest stock market trends
a meeting with a licensed financial planner/advisor
Term 12 of 49
Which of the following can help a person lower her personal risk of loss?
Insurance
Diversification
Premium
Comprehensive
Term 13 of 49
A person who dies will have his assets distributed as he wanted as long as he has
a will.
a doctor.
has a specific time frame.
inflation.
Term 14 of 49
The New York Stock Exchange(NYSE) can be described as a
type of investment fund that pools money from multiple investors
marketplace where stocks are bought and sold
government agency that regulates financial institutions
a digital platform for trading cryptocurrencies
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