WISE PRACTICE SCRIPT UPDATED 2026
TESTED SOLUTIONS
⫸ Exemption Answer: Allowance reducing taxable income amount.
⫸ Liquidity Answer: Ease of selling assets for cash.
⫸ Gift Cards Answer: Closed/open loop systems with potential fees.
⫸ Discretionary Income Answer: Income not allocated for essentials.
⫸ Money Orders Answer: Pre-specified payment order, hard to
counterfeit.
⫸ Opportunity Cost Answer: Next best alternative given up in choices.
⫸ Inflation Impact Answer: Lenders hurt most; borrowers least affected.
⫸ Treasury Department Answer: Collects taxes, prints money, issues
bonds.
, ⫸ Pay Yourself First Answer: Route paycheck to savings before
expenses.
⫸ Certificate of Deposit (CD) Answer: Time deposit with penalties for
early withdrawal.
⫸ High Interest Lenders Answer: Pawnshops, payday lenders, finance
companies.
⫸ Credit Union Answer: Member-owned institution with lower loan
rates.
⫸ Overdraft Protection Answer: Loan feature preventing checking
account overdraft.
⫸ Compound Interest Answer: Interest calculated on principal plus
previous interest.
⫸ Time Value of Money Answer: Money's value increases with interest
over time.
⫸ Liquid Financial Products Answer: Savings/checking accounts easily
converted to cash.
⫸ Rule of 72 Answer: Years to double investment = 72 / interest rate.
TESTED SOLUTIONS
⫸ Exemption Answer: Allowance reducing taxable income amount.
⫸ Liquidity Answer: Ease of selling assets for cash.
⫸ Gift Cards Answer: Closed/open loop systems with potential fees.
⫸ Discretionary Income Answer: Income not allocated for essentials.
⫸ Money Orders Answer: Pre-specified payment order, hard to
counterfeit.
⫸ Opportunity Cost Answer: Next best alternative given up in choices.
⫸ Inflation Impact Answer: Lenders hurt most; borrowers least affected.
⫸ Treasury Department Answer: Collects taxes, prints money, issues
bonds.
, ⫸ Pay Yourself First Answer: Route paycheck to savings before
expenses.
⫸ Certificate of Deposit (CD) Answer: Time deposit with penalties for
early withdrawal.
⫸ High Interest Lenders Answer: Pawnshops, payday lenders, finance
companies.
⫸ Credit Union Answer: Member-owned institution with lower loan
rates.
⫸ Overdraft Protection Answer: Loan feature preventing checking
account overdraft.
⫸ Compound Interest Answer: Interest calculated on principal plus
previous interest.
⫸ Time Value of Money Answer: Money's value increases with interest
over time.
⫸ Liquid Financial Products Answer: Savings/checking accounts easily
converted to cash.
⫸ Rule of 72 Answer: Years to double investment = 72 / interest rate.
