W!SE FINANCIAL LITERACY CERTIFICATION
TEST (Study Guide) Latest recent and
frequently tested exam with comprehensive
questions and verified accurate solution
(detailed & elaborated) GRADED A+
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, Role of the Treasury Department - correct ans:collects taxes, prints money, issues treasury bonds
Opportunity cost - correct ans:next best alternative - it is what is given up when a choice is made.
Money orders (high rate of counterfeits) - correct ans:A money order is a payment order for a pre-
specified amount of money and is purchased at different types of stores - it is used like a check. They are
usually limited in maximum face value to some specified figure
Discretionary Income or Budget Surplus - correct ans:not allocated for food or shelter
Liquidity - correct ans:the degree of ease in which assets can be sold
Exemption - correct ans:allowance is used to reduce amount of taxed income
sources of income - correct ans:wages, rentals, interest, capital, profits, investments, entrepreneurship
Pay Yourself First - correct ans:automatically route money from paycheck to savings (before paying bills).
CD (cash deposit) - correct ans:a time deposit offered at financial institutions - penalty if cashed before
maturity.
Institutions that give loans - correct ans:banks, credit unions, pawnshops, finance companies, payday
lenders, tax preparers
Which institution(s) charge the highest interest rates on loans - correct ans:pawnshops, payday lenders,
tax refund lenders, finance companies
credit union - correct ans:member owned co-operative financial institution - advantage is lower interest
rates on loans
TEST (Study Guide) Latest recent and
frequently tested exam with comprehensive
questions and verified accurate solution
(detailed & elaborated) GRADED A+
Professional Academic Assistance Services
Services Offered
Proctored Exam Assistance
Online Class Management (Full Course Support)
Exam Preparation & Study Materials
Assignments and Coursework Support
Essays and Research Papers
Discussion Posts and Replies
CONTACT INFORMATION
WHATAPPSLINK- https://wa.me/254784769540
, Role of the Treasury Department - correct ans:collects taxes, prints money, issues treasury bonds
Opportunity cost - correct ans:next best alternative - it is what is given up when a choice is made.
Money orders (high rate of counterfeits) - correct ans:A money order is a payment order for a pre-
specified amount of money and is purchased at different types of stores - it is used like a check. They are
usually limited in maximum face value to some specified figure
Discretionary Income or Budget Surplus - correct ans:not allocated for food or shelter
Liquidity - correct ans:the degree of ease in which assets can be sold
Exemption - correct ans:allowance is used to reduce amount of taxed income
sources of income - correct ans:wages, rentals, interest, capital, profits, investments, entrepreneurship
Pay Yourself First - correct ans:automatically route money from paycheck to savings (before paying bills).
CD (cash deposit) - correct ans:a time deposit offered at financial institutions - penalty if cashed before
maturity.
Institutions that give loans - correct ans:banks, credit unions, pawnshops, finance companies, payday
lenders, tax preparers
Which institution(s) charge the highest interest rates on loans - correct ans:pawnshops, payday lenders,
tax refund lenders, finance companies
credit union - correct ans:member owned co-operative financial institution - advantage is lower interest
rates on loans
