WISE Financial Literacy Test Questions
and Answers (2026) | Latest Test Bank
with Verified Solutions | Grade A+
• The most liquid type of investment is: -✓✓A 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: -✓✓There is enough money in Ms.
Sanchez's account to cover the amount if the checks
• Money orders are: -✓✓A 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: -
✓✓Date the check because it is usually proof of payment
• To qualify for a Federal Housing administration (FHA) loan, a person must generally: -
✓✓fulfill 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? -✓✓Notify the
credit card companies in order to negotiate a new payment plan
• What is meant by an uncollateralized loan? -✓✓A personal loan without assets to
cover the loan amount
• When a person declares bankruptcy that fact will appear on the person's credit report:
-✓✓For a 10 year period
• Which of following is considered to be opened credit? -✓✓Department store charge
cards
• When a person brings an item to a pawnshop to obtain cash, the transaction is
considered: -✓✓a collateralized loan
• Predatory lending practices generally include: -✓✓Very high interest rates and fees
• You can continue to change purchases on your credit card when: -✓✓The amount you
owe on the card is below your credit limit
• Which of the following does the federal Reserve use to regulate the nation's money
supply? -✓✓Monetary policy
and Answers (2026) | Latest Test Bank
with Verified Solutions | Grade A+
• The most liquid type of investment is: -✓✓A 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: -✓✓There is enough money in Ms.
Sanchez's account to cover the amount if the checks
• Money orders are: -✓✓A 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: -
✓✓Date the check because it is usually proof of payment
• To qualify for a Federal Housing administration (FHA) loan, a person must generally: -
✓✓fulfill 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? -✓✓Notify the
credit card companies in order to negotiate a new payment plan
• What is meant by an uncollateralized loan? -✓✓A personal loan without assets to
cover the loan amount
• When a person declares bankruptcy that fact will appear on the person's credit report:
-✓✓For a 10 year period
• Which of following is considered to be opened credit? -✓✓Department store charge
cards
• When a person brings an item to a pawnshop to obtain cash, the transaction is
considered: -✓✓a collateralized loan
• Predatory lending practices generally include: -✓✓Very high interest rates and fees
• You can continue to change purchases on your credit card when: -✓✓The amount you
owe on the card is below your credit limit
• Which of the following does the federal Reserve use to regulate the nation's money
supply? -✓✓Monetary policy
