WISE Test Practice Questions and Answers Update Already Passed
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Course
WISE
Institution
WISE
WISE Test Practice Questions and Answers Update Already Passed
When money is not used and goods and services are exchanged for other goods and services, this system is called: - Answer- Barter
David bought stock for $4,000 and one year later he sold it for $1,000. The sale resulted in a: - A...
WISE Test Practice Questions and
Answers Update 2024-2025 Already
Passed
When money is not used and goods and services are exchanged for other goods and
services, this system is called: - Answer- Barter
David bought stock for $4,000 and one year later he sold it for $1,000. The sale resulted
in a: - Answer- Capital loss
Money orders are: - Answer- A purchased certificate to pay a specified amount to a
specific payee
Ellen, Barbara, and Paul all charged $1,000 on their credit cards last year. Who paid the
most in finance charges? - Answer- Paul, who only pays the minimum amount each
month
Troy has $50 a month transferred electronically from his checking account to his
savings account. The is an example of: - Answer- A savings plan
A blank endorsement on a check: - Answer- Creates a check that can be cashed by
anyone
Mr. Akon's wife died. The money he received as the beneficiary on her life insurance is
called the: - Answer- Death benefit or face value
Judi and Phil had a joint VISA credit card while they were married. They are now
divorced. Who is responsible for the balance owed on the VISA card? - Answer- Both
Judi and Phil
Jane opened her credit card bill and was surprised by the amount she owed. She
cannot pay the full amount of the bill this month. The lowest dollar amount Jane is
required to pay by the credit card company is the: - Answer- Minimum payment
When the market has a steady decline in stock prices over a period of time, it is known
as a: - Answer- Bear market
Insurance is frequently described as a method of "sharing the risk" because the" -
Answer- Insured share
, A creditor determines your creditworthiness on: - Answer- Character, collateral, and
capacity
Using someone else's money, promising to repay at a future date, and paying a fee for
use of the money is the definition for: - Answer- Credit
Sara has invested in corporate bonds which are: - Answer- Loans to the issuer of the
bond
Most Consumer Credit Counseling Services (CCCS): - Answer- Charge a fee for setting
up and administering a debt repayment plan
When a corporation or governement agency borrows money from an investor and pays
intrerest and principal to that same investor, it is a: - Answer- Bond
Frankie's savings account has earned a lot of interest. He wants to know if he must pay
taxes on the interest earned. What would the IRS tell him? - Answer- Savings account
interest is taxable
Which of the following investment products is guaranteed by the federal government? -
Answer- U.S. Treasury notes
You can continue to charge purchases on your credit card when: - Answer- The amount
you owe on the card is below your credit limit.
A Neon Oil Corporation tanker spilled oil in the ocean around Australia. As a result of
this accident, the share price of this stock is likely to: - Answer- Decrease
When a self-employed person decides to purchase disability insurance it is generally to:
- Answer- Protect against the financial effects of not being able to work.
George received a dividend from the company in which he is a stockholder. A dividend
is: - Answer- Distribution of part of the company's profit
The activity of the New York Stock Exchange most closely resembles: - Answer- An
auction house
What action should a person take who must make a tuition payment at the end of
August each year? - Answer- Decide how much money will be needed and then place
1/12th of that amount in a separate account each month.
Predatory lending practices generally include: - Answer- Very high interest and fees
Why does a corporation issue bonds? - Answer- To raise money for expansion or other
company operations
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