Personal Finance Question and answers already passed 2024/2025
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Course
WISE
Institution
WISE
Personal Finance Question and answers already passed 2024/2025 Personal Finance: Wise Test Study Guide
When a person declares bankruptcy, that fact will appear on the person's credit report for ______ years - correct answer 10 years
Most of the adverse info on a credit report appears for __...
Personal Finance: Wise Test Study
Guide
When a person declares bankruptcy, that fact will appear on the person's
credit report for ______ years - correct answer ✔10 years
Most of the adverse info on a credit report appears for _____ years - correct
answer ✔7 years
A person has three credit cards with very large outstanding balances and is
unable to make payments on any of them. Which action should the person
take? - correct answer ✔Notify the credit card companies and negotiate new
terms
When a person brings an item to a pawnshop to obtain cash, the transaction
is considered to be _____ - correct answer ✔a collateralized loan
The Federal Reserve uses ______ to regulate the nation's money supply -
correct answer ✔Monetary policy
A high school student has begun to investigate the field of finance as a career
choice. In deciding about the field, what question does the student focus on
first? - correct answer ✔Will I find a balance between financial rewards and
personal satisfaction?
To make sure you will always remember your ATM PIN you write the PIN and
keep it ______ - correct answer ✔in a secure place at home
, The primary sources of income for most people between 20 and 35 who are
not living on a pension or social security: - correct answer ✔Salaries, wages,
and tips
A person's debt ratio shows the relationship between debt and net worth. If
the ratio is low, it means ______ - correct answer ✔the person is better off
financially
A man budgeted $200 a month for clothing. This month the man spent $150
on clothing, therefore that budget item is considered to have _____ - correct
answer ✔a budget variance
One of the benefits of holding an investment for over a year, rather than
selling it in less than a year, is _______ - correct answer ✔the capital gains
on the investment will be taxed at a lower rate
One of the reasons cigarettes are so expensive is _______ - correct answer
✔the government imposes an excise tax on the cigarettes
A company offers a defined contribution pension to their employees. Upon
retirement the employees receives _______ - correct answer ✔The total
amount of money contributed plus investment earnings
A person owns a stock that pays a $2 a share dividend. If the person chooses
to reinvest that dividend, the $2 will be used to buy _____ - correct answer
✔more of the same stock
What is the largest equities market in the world? - correct answer ✔The New
York Stock Exchange (NYSE)
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