Exam (elaborations)
WISE PERSONAL FINANCE QUESTIONS AND ANSWERS
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WISE PERSONAL FINANCE QUESTIONS AND ANSWERS
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Name: Score:75 Multiple choice questions
Definition 1 of 75
A savings account with a low (no) minimum balance, ease of withdrawal, insured by the FDIC...
Traditional Savings Account
Certificate Of Deposit
Money Market Account
Checking Account
Definition 2 of 75
Type of endorsement that only allows you to deposit a check into your account.
Restrictive
Hypertrophic
Obstructive
Comprehensive
Definition 3 of 75
The measure of quality of life based on the amounts and kinds of goods and services a person
can buy.
Quality of Life
Net Worth
Factors of Production
Standard of Living
,Definition 4 of 75
The maximum dollar amount of money the creditor will make available to you on your credit
card
Finance Charge
Credit Report
Credit Union
Credit Limit
Definition 5 of 75
Total Gain / Initial Investment
Rate of Return
Inflation
Diversification
Time Value of Money
Definition 6 of 75
Difference between what you own and what you owe.
Net Worth
Inflation
Balance Sheet
Liquidity
Definition 7 of 75
the concept of setting aside a portion of your income for savings before spending any of it
Emergency Savings
Time Value Of Money
All Are Way Of Saving Money
Paying Yourself First
,Definition 8 of 75
An order to sell a stock you own at a price lower than the current market price because you
want to minimize potential losses.
Bull Market
Limit Order
Market Order
Stop Order
Definition 9 of 75
Personal Info, Credit History, Inquiries, Public Records
Finance Charge
Net Worth
Credit Report
Credit Union
Definition 10 of 75
A strategy of investing in a broad range and number of companies in order to limit the
potential investment risk.
Diversification
Liquidity
Market Penetration
Inflation
, Definition 11 of 75
Bans unfair rate increases, prevents unfair fee traps, protects students and young people
Gramm-leach-bliley Act
Fair Credit Reporting Act
Credit CARD Act
Truth In Lending Act
Definition 12 of 75
Goals that are Specific, Measurable, Achievable, Realistic and Time-Bound
Objectives/goals
SMART goals
Verbal communication
Strategic goals
Definition 13 of 75
Money left after paying expenses.
Budget Variance
Disposable Income
Discretionary Income
Inflation
Definition 14 of 75
You would be eligible for a tax refund if the amount withheld from your paycheck is:
Comprehensive
Greater than tax liability
Potential earning power
Property damage liability & bodily injury liability
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