Wise Financial Literacy Test Exam Questions With Verified And Updated Solutions.

Wise Financial Literacy Test Exam Questions With Verified And Updated Solutions. If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the: - answerUS Treasury Department The most liquid type of investment is: - answerA money market account. He financial institution where Ms. Sanchez has her checking account will continue to pay out money for the checks she writes as long as: - answerThere is enough money in Ms. Sanchez's account to cover the amount if the checks Money orders are: - answerA purchased certificate to pay a specified amount to a specific payee The best suggestion you gave a friend who is writing a check for the first time is: - answerDate the check because it is usually proof of payment To qualify for a Federal Housing administration (FHA) loan, a person must generally: - answerfulfill 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 the person take? - answerNotify the credit card companies in order to negotiate a new payment plan What is meant by an uncollateralized loan? - answerA personal loan without assets to cover the loan amount When a person declares bankruptcy that fact will appear on the person's credit report: - answerFor a 10 year period Which of following is considered to be opened credit? - answerDepartment store charge cards When a person brings an item to a pawnshop to obtain cash, the transaction is considered: - answera collateralized loan Predatory lending practices generally include: - answerVery high interest rates and fees