Exam (elaborations)
Wise Practice 2024 Test Updated Questions and Answers (2024/2025) (Verified Answers)
- Course
- Institution
Wise Practice 2024 Test Updated Questions and Answers (2024/2025) (Verified Answers)
[Show more]
Content preview
WISE Practice Test-.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/WISE%20PractWISE Practice Test- Questions & Answers
1. Question :To qualify for a Federal Housing Administration (FHA) loan, a
person must generally
A: have at least a high school diploma.
B: have one-quarter of the cost of the homefor
a down-payment.
C: fulfill income guidelines.
D: provide two individuals to co-sign the loan.
Answer : C: fulfill income guidelines.
2. A high school student has begun to investigate the field of finance as a career
choice. In deciding about the field, the student should focus on whichquestion
first?
A:Will I find a balance between financial rewards and personal satisfactionfrom
work?
1 of 49 11/8/2024, 7:41
,WISE Practice Test-.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/WISE%20Pract
B: How many people do I know who work in this field?C:
Once I train for this area, how long before I will be at
the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs?
Answer : A: Will I find a balance between financial rewards and personalsatisfaction
from work?
3. A:Will I find a balance between financial rewards and personal satisfaction
from work?
Reason : It is important to investigate a career with the idea of not only getting a
sense of earning potential, types of positions available and the training
necessary to acquire these positions but what are the chances thatthe individual
will enjoy working in this field.
Answer : D: An ATM transaction
4. A company offers a defined-contribution pension plan which means that
upon retirement the employee will receive
2 of 49 11/8/2024, 7:41
,WISE Practice Test-.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/WISE%20Pract
A: one-half of the employee's last year's salary.
B: the total amount of money contributed plus investment
earnings.
C: an amount of money based only on the length of time
the employee worked for the company.
D: a specified amount of money based totally on the profit
earned by the company while the employee worked
there.
Answer : B: the total amount of money contributed plus investment earnings.
3 of 49 11/8/2024, 7:41
,WISE Practice Test-.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/WISE%20Pract
5. The interest earned on United States Series EE Savings Bonds is
A: exempt from state and local taxes.
B: paid in a lump sum at the time the face value on the bond is reached.
C: equal to the money paid to purchase it.
Answer : A: exempt from state and local taxes.
Reason :The interest rate on US savings bonds is exempt from state and local taxes.
6. Buying a treasury bill (T-bill) is best for investors who are looking for
A: a place to invest between $100-$500.
B: a secure, low risk investment.
C: a higher yield on their investment than corporate bonds offer.
D: an investment that matures in 10-30 years.
Answer : B: a secure, low, risk investment.
Reason : These bills are backed by the full faith and credit of the US government,
therefore considered relatively risk free.
4 of 49 11/8/2024, 7:41
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 BESTGOODIES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now