Exam (elaborations)
WISE Personal Finance Test 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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WISE Personal Finance Test 2024 Updated Questions and Answers (2024/2025) (Verified Answers)
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Personal Finance WISE Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Personal%20FinaWISE Personal Finance Test
1. Inflation
Answer the rise in the level of prices for goods and services
2. TimeValue of Money
Answer the increase of an amount of money due to earned interestor dividends
3. Balance Sheet
Answer statement that identifies the items you own, what you owe, andyour net
worth
4. PayingYourself First
Answer the concept of setting aside a portion of your income forsavings before
spending any of it
5. Commission
Answer a fee charged by a brokerage firm or investment bank to buy or sellsecurities
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,Personal Finance WISE Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Personal%20Fina
of an investor
6. Potential Earning Power
Answer the amount of money you may earn over time
7. Finance Charge
Answer the total dollar amount of interest you pay to use credit
8. Compounding
Answer the process of earning interest on both the principal and any priorinterest
earned in your account
9. Medicare
Answer is a government sponsored health care coverage for the elderly
10. Credit Limit
Answer The maximum dollar amount of money the creditor will makeavailable
to you on your credit card
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