WISE Test Questions and Correct Answers 100% Verified
5 views 0 purchase
Course
WISE
Institution
WISE
WISE Test Questions and Correct Answers 100% Verified
Which financial product typically pays the highest rate of interest? - Answer- Certificate of deposit
Pat has a savings account and a car loan from a not-for-profit financial institution owned by its members. She is probably a member of w...
WISE Test Questions and Correct
Answers 100% Verified
Which financial product typically pays the highest rate of interest? - Answer- Certificate
of deposit
Pat has a savings account and a car loan from a not-for-profit financial institution owned
by its members. She is probably a member of what type of financial institution? -
Answer- Credit Union
The best reason for depositing money in a bank or credit union savings account instead
of keeping your money "under the mattress is that" - Answer- Money deposited in
savings accounts are F.D.I.C insured
Employees prefer direct deposits because: - Answer- The money is generally deposited
in their checking account sooner than it would be if they had to deposit it in person.
Which financial product has the most predicable income? - Answer- Certificate of
deposit
When a person is reconciling a checking account and notices that the balance in the
checkbook does not match the balance on the statement from the bank, which action is
it appropriate for the person to take first? - Answer- Determine that checks already
written have cleared
Which financial product can you buy for $25, is safe, and will be worth $50 at a future
date? - Answer- Series EE savings bond
Frankie's savings account has earned a lot of interest. He wants to know if he must pay
taxes on the interest earned. What would the IRS tell him? - Answer- Savings account
interest is taxable
The financial institution where Ms. Sanchez has her checking account will continue to
pay out money for the checks she writes as long as: - Answer- There is enough money
in Ms. Sanchezs account to cover the amount of the checks
This term used to describe the ease and speed with which you can convert savings or
an investment to cash is: - Answer- Liquidity
The most liquid type of investment: - Answer- A money market account
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
