WISE Test questions with correct answers

One of Andre's seldom-used credit cards has been stolen without his knowledge. When he gets his monthly statement, he realizes that someone else has been using the card and reports it stolen. The maximum amount of unauthorized purchases he is liable for is: Answer $50 Consumers who file for bankruptcy are still responsible for: Answer Tax claims and student loans Which of the following provides an increase in assets or wealth? Answer Having capital gains The denominations of coins in the United States are: Answer $.01, $.05, $.10, $.25, $.50, $1.00 Mutual funds are: Answer An investment that holds a wide range of different investment instruments, providing diversification Michele and Claudia have a seven year old son. They won $50,000 on a TV games show and want to put it away for their son's education. Which of the following has the highest potential growth and the highest risk? Answer Common Stock Banks use savings account deposits to: Answer Give loans to consumers and businesses You have a checking account balance of $100 and you deposit a personal $200