Exam (elaborations)
Wise Practice Test Questions Solved 2024
- Course
- Institution
Wise Practice Test Questions Solved 2024
[Show more]
Content preview
Wise Practice Test Questions Solved 2024A person is depositing $20 in cash and a check for $50. On the checking account
deposit slip, the person should - ANSWER-list the cash deposit separately from the
check as well as the total of the deposit.
ATM (Automated Teller Machine) - ANSWER-a computer terminal that you can use to
make deposits, withdraw cash, transfer money between accounts, check your account
balances, and pay some kinds of bills
ATM Pin number - ANSWER-You should never write any PIN on something that might
be stolen. Write your PIN down and keep it in a secure place in your home.
Automobile insurance - ANSWER-covers motor vehicles, including automobiles, trucks,
and motorcycles, the injuries to the driver and passengers
bankruptcy - ANSWER-will appear on the person?s credit report for 10 years
budget variance. - ANSWER-the difference between the budgeted amount and the
actual amount that you spend
capital gains - ANSWER-are profits made from the sale of capital assets such as stocks
and bonds
Capital gains - ANSWER-provides an increase in assets or wealth?
Capital gains - ANSWER-tax deferred until the asset is sold,
Capital Gains Tax - ANSWER-If held over one year are considered long-term capital
gains and are taxed at a lower tax rate or in some cases are not taxed at all.
cash value for whole life insurance - ANSWER-Policy that accumulates cash value is
more expensive than a policy that does not accumulate cash value
cash value of a whole life insurance - ANSWER-calculated amount of money which
includes the premiums paid as well as the interest on that money.
certificate of deposit - ANSWER-A long-term, fixed rate
Certificate of deposit - ANSWER-has the most predictable income?
certificate of deposit - ANSWER-If you believe interest rates are going to fall in the near
future and remain low for a considerable period of time. You should invest in:
Certificate of deposit - ANSWER-Most certificates of deposit (CDs) are issued with an
interest rate that is fixed at a specified rate for the entire term of the deposit.
, Collateral - ANSWER-tangible asset that is used to secure a loan. In the case of a
mortgage, the actual house or apartment serves as the collateral for that loan.
collateralized loan. - ANSWER-A loan that is secured by collateral, properties or assets
that are subject to seizure on default.
collateralized loan. - ANSWER-When a person brings an item to a pawnshop to obtain
cash, the transaction is considered
common stock - ANSWER-the most basic form of ownership, including voting rights on
major issues, in a company
Credit union - ANSWER-Credit unions are not-for-profit savings and lending financial
institutions, owned by its members
Credit unions - ANSWER-Are insured by National Credit Union Administration
(NCUA),up to $100,000
Credit unions - ANSWER-Credit unions usually pay the highest rates of interest
because they have lower risks and costs of operation. They are not-for-profit
organizations
debit card - ANSWER-Purchases made with your debit card are usually Deducted
immediately from your checking account
debt ratio - ANSWER-calculated by dividing liabilities by net worth
debt ratio - ANSWER-shows the relationship between debt and net worth.
debt ratio - ANSWER-The lower the ratio the better off financially the person is.
deductible - ANSWER-250 deductible, means the person will have to pay the first $250
which will be deducted from the claim settlement paid by the insurance company.
deductible - ANSWER-the amount of money that the policy holder pays when a claim is
settled.
Department store charge cards. - ANSWER-is a revolving live of credit that is offered by
banks There is a limit set on the line of credit and the funds
Department store charge cards. - ANSWER-open-end credit
Deposit slips - ANSWER-list the cash deposit separately from the check as well as the
total of the deposit
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LUCKYSTAR2022. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84146 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now