WISE Test Questions and Answers 2024 with Complete Solutions
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Course
WISE
Institution
WISE
WISE Test Questions and Answers 2024 with Complete Solutions
Which statement best describes the relationship between a person's educational level and that person's potential earning power? - Answer- A person with a professional degree is likely to earn at least four times as much per year as a ...
WISE Test Questions and Answers
2024 with Complete Solutions
Which statement best describes the relationship between a person's educational level
and that person's potential earning power? - Answer- A person with a professional
degree is likely to earn at least four times as much per year as a person who did not
complete high school
Which statement is FALSE about most ATM (Automated Teller Machine) cards? -
Answer- You can always get cash anywhere in the world with no fee.
When money is not used and goods and services are exchanged for other goods and
services, this system is called: - Answer- Barter
The common name for U.S. currency is: - Answer- Green backs
A type of electronic funds transfer (EFT) is: - Answer- An ATM transaction
Nora needed to make a long-distance call from a pay phone and did not have the cash.
She was able to make the call by using her: - Answer- Cash card
A cash card generally: - Answer- Is purchased with a specific amount of money that can
be used to pay for goods or services
The primary sources of income for most people between the ages of 20 and 35 who are
not living on a pension or social security are: - Answer- Salaries, wages, and tips
Which of the following statements is usually true about individuals who are financially
literate? - Answer- They understand the basics of personal finance and money
management
Money in the United States includes: - Answer- Checking account balances on which
checks can be drawn
The denominations of coins in the United States are: - Answer- $.01, $.05, $.10, $.25,
$.50, and $1.00
Which of the following is a disadvantage of using phone cards, debit cards, electronic
transfers, and ATM cards? - Answer- They expose consumers to greater likelihood of
identity theft
Identify the background color of a U.S. $5.00 bill. - Answer- Green
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