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WISE (Finance Economics) CERTIFICATION TEST QUESTIONS CORRECTLY ANSWERED.
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WISE (Finance Economics) CERTIFICATION TEST QUESTIONS CORRECTLY ANSWERED.
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WISE (Finance Economics) CERTIFICATIONTEST QUESTIONS CORRECTLY ANSWERED.
Another term for the dollar amount of your paycheck after taxes and other
withholding is:
Correct Answer -Net income
In terms of retirement income, a person should realize that the amount of
money the person will receive from the Social Security system's benefits
depends on the person's
Correct Answer -earnings over a lifetime of work
What does a well-designed, successful financial plan include?
Correct Answer -Retirement planning
Rossi has a part time job delivering pizzas to raise money for college in 2
years. Going to college is one of Rossi's
Correct Answer -Goals
Spreading one's assets across several types of saving and investment
products to manage risk is called:
Correct Answer -Diversification
Discretionary income is:
Correct Answer -The difference between your total income and your
essential living expenses
If a person makes a deposit of $10,000 or more into a bank account, the
bank must notify the
Correct Answer -US Treasury Department
,An example of closed-end credit is a
Correct Answer -Mortgage
Before a person borrows money from a bank to make a major purchase,
which question is considered most important for the person to answer?
Correct Answer -Do the benefits of making the purchase outweigh the
costs of borrowing the money?
When a person declares bankruptcy that fact will appear on the person's
credit report
Correct Answer -for a 10 year period
When an unmarried individual makes a contribution to a Roth individual
Retirement Account (IRA) it is
Correct Answer -not currently tax deductible
A 60-year old makes a withdraw from his Roth Individual Retirement
Account (IRA.) The money withdrawn will be
Correct Answer -Tax free
When an investor buys a zero-coupon bond, the investor
Correct Answer -purchases the bond at a discount from the face value of
the bond
When security are traded in the secondary market, who makes or loses
money?
Correct Answer -Investors
, Which product is considered to be an investment
Correct Answer -a corporate bond
In terms of taxes, hen stock dividends are reinvested, the owner of the
stock
Correct Answer -Still has to pay income taxes on the dividends
To determine the time value of depositing $100 in a savings account, a
person needs to know the interest rate and
Correct Answer -The rate of inflation
A students grandmother has decided to buy a long term health care
insurance policy. The student's grandmother's decision is most likely
related to the fact that this type of coverage
Correct Answer -is not offered by Medicare
For the past 5 years, a person has has a $20,000 whole life insurance
policy that has a cash value clause. The person decides to surrender the
policy. At the time of surrender, the person will receive
Correct Answer -A calculated amount of money which includes the
premiums paid as well as the interest on that money
When James received his paycheck, he planned to cash it at a checking
store. You advise him to cash it at his own bank if possible. Why?
Correct Answer -They typically charge high fees
Which financial product may pay a dividend
Correct Answer -Common stock
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