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WISE Financial Literacy Certification EXAM
VERIFIED Questions and Answers GRADED A+
GUARANTEED PASS INSTANT ACCESS PDF
Question : To qualify for a Federal Housing Administration (FHA) loan, a person
must generally
A: have at least a high school diploma.
B: have one-quarter of the cost of the home
for a down-payment.
C: fulfill income guidelines.
D: provide two individuals to co-sign the loan. - ANS :C: fulfill income guidelines.
A high school student has begun to investigate the field of finance as a career
choice. In deciding about the field, the student should focus on which question
first?
A: Will I find a balance between financial rewards and personal satisfaction from
work?
B: How many people do I know who work in this field?
C: Once I train for this area, how long before I will be
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at the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs? - ANS :A: Will I find a balance between financial rewards and
personal satisfaction from work?
A type of electronic funds transfer (EFT) is:
A: A transaction made with a check
B: A deposit made with a bank teller
C: Not widely used by consumers
D: An ATM transaction - ANS :D: An ATM transaction
A company offers a defined-contribution pension plan which means that upon
retirement the employee will receive
A: one-half of the employee's last year's salary.
B: the total amount of money contributed plus investment
earnings.
C: an amount of money based only on the length of time
the employee worked for the company.
D: a specified amount of money based totally on the profit
earned by the company while the employee worked
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there. - ANS :B: the total amount of money contributed plus investment earnings.
The interest earned on United States Series EE Savings Bonds is
A: exempt from state and local taxes.
B: paid in a lump sum at the time the face value on the bond is reached.
C: equal to the money paid to purchase it. - ANS :A: exempt from state and local
taxes.
Buying a treasury bill (T-bill) is best for investors who are looking for
A: a place to invest between $100-$500.
B: a secure, low risk investment.
C: a higher yield on their investment than corporate bonds offer.
D: an investment that matures in 10-30 years. - ANS :B: a secure, low, risk
investment.
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
A: investor will pay only $5000 for the shares.
B: investor is buying 2000 shares.
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WISE Financial Literacy Certification EXAM
VERIFIED Questions and Answers GRADED A+
GUARANTEED PASS INSTANT ACCESS PDF
Question : To qualify for a Federal Housing Administration (FHA) loan, a person
must generally
A: have at least a high school diploma.
B: have one-quarter of the cost of the home
for a down-payment.
C: fulfill income guidelines.
D: provide two individuals to co-sign the loan. - ANS :C: fulfill income guidelines.
A high school student has begun to investigate the field of finance as a career
choice. In deciding about the field, the student should focus on which question
first?
A: Will I find a balance between financial rewards and personal satisfaction from
work?
B: How many people do I know who work in this field?
C: Once I train for this area, how long before I will be
1|Page
, 2
at the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs? - ANS :A: Will I find a balance between financial rewards and
personal satisfaction from work?
A type of electronic funds transfer (EFT) is:
A: A transaction made with a check
B: A deposit made with a bank teller
C: Not widely used by consumers
D: An ATM transaction - ANS :D: An ATM transaction
A company offers a defined-contribution pension plan which means that upon
retirement the employee will receive
A: one-half of the employee's last year's salary.
B: the total amount of money contributed plus investment
earnings.
C: an amount of money based only on the length of time
the employee worked for the company.
D: a specified amount of money based totally on the profit
earned by the company while the employee worked
2|Page
, 3
there. - ANS :B: the total amount of money contributed plus investment earnings.
The interest earned on United States Series EE Savings Bonds is
A: exempt from state and local taxes.
B: paid in a lump sum at the time the face value on the bond is reached.
C: equal to the money paid to purchase it. - ANS :A: exempt from state and local
taxes.
Buying a treasury bill (T-bill) is best for investors who are looking for
A: a place to invest between $100-$500.
B: a secure, low risk investment.
C: a higher yield on their investment than corporate bonds offer.
D: an investment that matures in 10-30 years. - ANS :B: a secure, low, risk
investment.
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
A: investor will pay only $5000 for the shares.
B: investor is buying 2000 shares.
3|Page
