Personal Finance WISE Test Questions, Exams of Nursing

Download Personal Finance WISE Test Questions and more Exams Nursing in PDF only on Docsity! Personal Finance WISE Test questions Latest Exam 2024 If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the: - correct answers✅US Treasury Department The term used to describe the ease and speed with which you can convert savings or an investment to cash is: - correct answers✅Liquidity Which financial product typically pays the highest rate of interest? - correct answers✅Certificate of Deposit What action should a person take who must make a tuition payment at the end of August each year? - correct answers✅Decide how much money will be needed and then place 1/12 of that amount in a separate account each month A person is depositing $20 in cash and a check for $50. On the checking account deposit slip, the person should - correct answers✅list the cash deposit separately from the check as well as the total of the deposit Which of the following is considered to be open-end credit? - correct answers✅Department store charge cards Personal Finance WISE Test questions Latest Exam 2024 To qualify for a Federal Housing Administration (FHA) loan, a person must generally - correct answers✅fulfill income guidelines A person has three credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should they take? - correct answers✅Notify the credit card companies in order to negotiate a new payment plan When a person declares bankruptcy that fact will appear on the person's credit report - correct answers✅for a 10 year period What is meant by an uncollateralized loan? - correct answers✅A personal loan without assets to cover the loan amount When a person brings an item to a pawnshop to obtain cash, the transaction is considered - correct answers✅a collateralized loan Claire got a new credit card from American Bank and wants to cancel her USA credit card. The best method is to dispose of her USA credit card is to: - correct answers✅Cut up the card, put parts in different garbage Personal Finance WISE Test questions Latest Exam 2024 Jane saw a breakfast cereal being advertised on TV and insisted that her mother purchase this cereal. This is an example of advertising's: - correct answers✅Power of persuasion in creating demand An example of a fixed expense is - correct answers✅Apartment rent Electricity and food expenditures are: - correct answers✅variable expenses that change from one period to another discretionary income is: - correct answers✅The difference between your total income and your essential living expenses. Expenditures that remain constant from one time period to another are: - correct answers✅Fixed expenses A company offers a defined contribution pension plan which means that upon retirement the employee will receive: - correct answers✅The total amount of money contributed plus investment earnings Personal Finance WISE Test questions Latest Exam 2024 After five years of owning a Roth Individual Retirement Account (IRA), a person wants to buy his first home, the person can withdraw money from the Roth IRA: - correct answers✅Tax and penalty free Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at $50 a share on 50% margin. This means that the - correct answers✅The brokerage firm is lending the investor 50% of the money As an investment, a person decides to buy a small house that has three rental apartments. The profits from this investment may be lower than expected if: - correct answers✅One of the apartments is not rented What is the largest equities market in the world? - correct answers✅New York Stock Exchange (NYSE) A person owns a stock that pays a $2.00 a share dividend. If the person chooses to reinvest that dividend, this means that the $2.00 will go toward buying - correct answers✅More of the same stock The interest earned on United States Series EE Savings Bonds is: - correct answers✅Exempt from state and local taxes Personal Finance WISE Test questions Latest Exam 2024 An investor bought 40 shares of ABC corporation's stock at $80 a share. Two weeks later, the investor receives notice that the corporation has approved a 2-for-1 stock split. Based on this information, the investor would own at the moment of the split - correct answers✅80 shares of stock and the price of each share is $40 Before the Kiss Corporation can issue stocks or bonds, it must register the issue with: - correct answers✅The Securities and Exchange Commission A pharmacy is to drugs as the American Stock Exchange is to: - correct answers✅Securities Buying a treasury bill (T-bill) is best for investors who are looking for - correct answers✅A secure, low risk investment The price of a security may be affected by: - correct answers✅current events To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and: - correct answers✅The rate of inflation Personal Finance WISE Test questions Latest Exam 2024 A high school student has begun to investigate the field of finance as a career choice. In deciding about the field, what question does the student focus on first? - correct answers✅Will I find a balance between financial rewards and personal satisfaction? To make sure you will always remember your automated teller machine (ATM) card personal identification number (PIN) you write the PIN and keep it - correct answers✅In a secure place at home Which types of financial institution pays the highest rate of interest on savings account balances? - correct answers✅Credit Unions A person is convinced that a lending institution is charging too much interest for a loan. This person should be aware that - correct answers✅There are state usury laws A person believes that interest rates are going to fall in the near future and remain low for a considerable period of time. This person should invest in - correct answers✅A long-term, fixed rate certificate of deposit Personal Finance WISE Test questions Latest Exam 2024 Generally, the higher the deductible on an insurance policy, the - correct answers✅Lower the premium A man's job provided the main income for his family. He died unexpectedly and had no life insurance. The probable financial consequence for his wife and two children DOES NOT include: - correct answers✅An increase in income and expenses Financial services and products generally offered by banks and credit unions include: - correct answers✅Savings and loans Employees prefer direct deposits because: - correct answers✅The money is generally deposited in their checking account sooner than it would be if they had to deposit it in person