Wse financial literacy - Study guides, Class notes & Summaries

Sources of income - wages, rentals, interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance)) and how does it work - allowance is used to reduce amount of taxed income Liquidity—what does it mean; what products are liquid - the degree of ease in which assets can be sold Gift cards and how they work (a monthly inactivity fee may begin after 12 months) - closed loop system and open loop system Discretionary income or budget surplus - not a...

If you are denied credit based on your credit report, you are entitled to a: - Correct Answer : A: Free copy of the credit report if you request it within 60 days Reason : If requested within 60 days after the denial, you must be provided with a free copy of the credit report from the specific credit reporting agency whose report was the basis for credit, employment, insurance, or housing denial. At all other times, there is a small fee to get a credit report. Consumer Credit Counseling S...

Bounced checka check written for an amount more than in your account Cashier's CheckA check issued by a bank and sold to you for personal payments to people who won't accept a personal check. It certifies that you have the money available. credit unionA nonprofit financial institution that is owned by its members and organized for their benefit. Commercial Banka for-profit institution that offers a full range of financial services Money OrderA form of check payment on which the financi...

sources of income - wages, rentals, interest, capital, profits, investments, entrepreneurship exemption (aka allowance) and how does it work - allowance is used to reduce amount of taxed income. personal exemptions are given for people with dependents or spouses. company exemptions are given for non-profits, religious organizations, and government corporations. liquidity—what does it mean? what products are liquid? - liquidity is the degree in which assets can be sold. cash on h...

Which of the following does the Federal Reserve use to regulate the nation's money supply? - Monetary policy Identify the background color of a U.S. $5.00 bill. - Green A type of electronic funds transfer (EFT) is: - An ATM transaction Scott just got an ATM card to use and must choose a PIN (Personal Identification Number). How should he select a PIN that will give him maximum protection against anyone else being able to find out what the PIN is? - Use a random selection of...

W!SE Financial Literacy Certification Test Review Questions and Answers 100% AccurateW!SE Financial Literacy Certification Test Review Questions and Answers 100% AccurateW!SE Financial Literacy Certification Test Review Questions and Answers 100% Accurate Liquidity - ANSWER-The ability to convert an asset to cash quickly Products that are liquid - ANSWER-Stocks and Money Market accounts Gift Cards - ANSWER-a card that is given as a gift with a specified amount of money. There is a monthly...

W!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic ChecklistW!SE Financial Literacy Certification Test Topic Checklist sources of income - ANSWER-wages, stocks, interest, salary exemption - ANSWER-a deduction allowing to reduce the amount of your income that would be taxed liquidity - ANSWER-access to money fast discretionary income - ANSWER-extra money you can use for anyt...

Which of the following does the Federal Reserve uses to regulate the nation's money supply? Monetary Policy Reason: Uses it to regulate the nation's money supply. Which of the following is a disadvantage of using of using phone cards, debit cards, electronic transfers, and ATM cards? They expose consumers to greater likelihood of identity theft. Reason: The growing number of transactions that can be carried out without cash increases convenience for consumers who have credit cards, ph...

When a person declares bankruptcy that fact will appear on the person?s credit report - ANSWER for a 10 year period, Most of the adverse information on a credit report appears for 7 years. After a declared bankruptcy, the limit is 10 years.

sources of income - ANSWER wages, rentals, interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance) and how does it work - ANSWER allowance is used to reduce amount of taxed income Liquidity—what does it mean; what products are liquid - ANSWER the degree of ease in which assets can be sold