WISE Certification Bundle Set

If a fire happens to someone's house, what type of insurance will pay for the damage most likely? Answer Home insurance If a corporation was sued and lost a major lawsuit, what will happen to the price of their stock? Answer Price of stock increases Why is a stock characterized as a "growth...

Question : To qualify for a Federal Housing Administration (FHA) loan, a person must generally A: have at least a high school diploma. B: have one-quarter of the cost of the home for a down-payment. C: fulfill income guidelines. D: provide two individuals to co-sign the loan. Answer...

Is purchased with a specific amount of money that can be used to pay for goods or services Answer A cash card generally Checking account balances on which checks can be drawn Answer Money in the United States includes: Deducted immediately from your checking account Answer Purchases made with ...

Which of the following does the Federal Reserve use to regulate the nation's money supply? Answer answer: Monetary policy The Federal Reserve uses monetary policy to regulate the nation's money supply. Monetary policy is directed at expanding or contracting the supply of money and credit in the...

Who benefits the most from inflation Answer Long-term fixed rate borrowers Reason : Inflation reduces the purchasing power of money, so every dollar you spend in the future has less value than it has now. Since the payments on long-term fixed rate loans, like 30-year mortgages remain the same for t...

Sources of Income Answer Wages, rentals, interest, capital, profit, investments, entrepreneurship Exemption (allowance) and how it works Answer Allowance is used to reduce amount of taxed income Liquidity Answer The degree of ease in which the assets can be sold Gift cards and how they work...

a good reason to have a credit card is that it allows the person to Answer not have to carry large amounts of cash uses his bank ATM card at his local grocery store's ATM that charges a 3.00 fee for each transaction. he uses this ATM machine sometimes a month. This practice should be Answer no b...

When a person brings an item to a pawnshop to obtain cash, the transaction is considered Answer a collateralized loan. To qualify for a Federal Housing Administration (FHA) loan, a person must generally Answer fulfill income guidelines. A person has three credit cards with very large outstandi...

Wise Financial Literacy Test questions with correct answers

One of Andre's seldom-used credit cards has been stolen without his knowledge. When he gets his monthly statement, he realizes that someone else has been using the card and reports it stolen. The maximum amount of unauthorized purchases he is liable for is: Answer $50 Consumers who file for bank...

When making a list of your liabilities a person should include: Answer mortgage loan Money in the form of cash or currency acts as a: Answer medium of exchange If a person has a $1,000 line of credit, the person can charge: Answer up to $1,000 on the credit card A benefit of buying term lif...

A person who is planning to retire can receive income from all of the following sources EXCEPT: Answer Term life insurance. What should a 50 year old person know about withdrawing money from her traditional individual retirement account ( traditional ira)? Answer There is a 10% penalty on any mon...

A credit card is issued to John and Maria Davis. This month, John charges $100 and Maria makes no charges. When the bill is received who is legally responsible for paying the $100 Answer Both John and Maria A factor that can cause the price of a stock to DECREASE is the company Answer lowering it...