Wise Practice Exam Tested Questions With Revised Correct Answers Updated & Passed

Wise Practice Exam Tested Questions With Revised Correct Answers Updated & Passed Which statement is FALSE about most ATM (Automated Teller Machine) cards? - ANSWER : You can always get cash anywhere in the world with no fee. You must have a bank account to have an ATM card because the ATM card is used to electronically make deposits into, withdrawals from, or get information concerning your bank balance at an ATM 24 hours a day, seven days a week. If you use an ATM that is not in your bank?s ATM network, you will likely be charged a fee by the network that owns that ATM. In addition, your own bank may add a fee to your monthly statement for using an ATM outside their ATM network The primary sources of income for most people between the ages of 20 and 35 who are not living on a pension or social security are: - ANSWER : Salaries, wages, and tips The primary sources of income for most people between the ages of 20 and 35 are salaries, wages, and tips from their employment, also known as earned income. Earned income is also the primary source of income for most other age groups. Very few people have sufficient unearned income - dividends, interest, rents, or profits - to live on without holding a job or running a business. Which of the following statements is usually true about individuals who are financially literate? - ANSWER : They understand the basics of personal finance and money management Financial literacy is knowledge of facts, concepts, and technological tools that are basic to being smart about money. People who are not financially literate are more likely to fall prey to consumer scams, have excessive consumer debt, and spend their money without a spending plan. Ultimately, they may end up in serious financial trouble.