WISE Financial Literacy
Certification Practice Questions
WITH Correct Answers 100% Pass
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. - CORRECT ANSWER-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
at the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs? - CORRECT ANSWER-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 - CORRECT ANSWER-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
there. - CORRECT ANSWER-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. - CORRECT ANSWER-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.
Certification Practice Questions
WITH Correct Answers 100% Pass
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. - CORRECT ANSWER-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
at the top of the field?
D: Are there people in this field who are dissatisfied
with their jobs? - CORRECT ANSWER-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 - CORRECT ANSWER-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
there. - CORRECT ANSWER-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. - CORRECT ANSWER-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.
