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WISE Exam Practice questions and
verified answers 2026
Which of the following types of investment would best protect the purchasing
power of a family's savings in the event of a sudden increase in inflation? -
correct-answer - A house financed with a fixed-rate mortgage
Under which of the following circumstances would it be financially beneficial to
you to borrow money to buy something now and repay it with future income? -
correct-answer - When you need to buy a car to get a much better paying job.
Which of the following statements best describes your right to check your credit
history for accuracy? - correct-answer - Your credit record can be checked once a
year for free.
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Your take home pay from your job is less than the total amount you earn. Which
of the following best describes what is taken out of your total pay? - correct-
answer - Federal income tax, social security, and Medicare contributions
Retirement income paid by a company is called: - correct-answer - Pension
Many people put aside money to take care of unexpected expenses. If John and
Jenny have money put aside for emergencies, in which of the following forms
would it be of LEAST benefit to them if they needed it right away? - correct-
answer - Invested in a down payment on the house
Justin just found a job with a take-home pay of $2,000 per month. He must pay
$800 for rent and $200 for groceries each month. He also spends $200 per month
on transportation. If he budgets $100 each month for clothing, $150 for
WISE Exam Practice questions and
verified answers 2026
Which of the following types of investment would best protect the purchasing
power of a family's savings in the event of a sudden increase in inflation? -
correct-answer - A house financed with a fixed-rate mortgage
Under which of the following circumstances would it be financially beneficial to
you to borrow money to buy something now and repay it with future income? -
correct-answer - When you need to buy a car to get a much better paying job.
Which of the following statements best describes your right to check your credit
history for accuracy? - correct-answer - Your credit record can be checked once a
year for free.
, 2|Page
Your take home pay from your job is less than the total amount you earn. Which
of the following best describes what is taken out of your total pay? - correct-
answer - Federal income tax, social security, and Medicare contributions
Retirement income paid by a company is called: - correct-answer - Pension
Many people put aside money to take care of unexpected expenses. If John and
Jenny have money put aside for emergencies, in which of the following forms
would it be of LEAST benefit to them if they needed it right away? - correct-
answer - Invested in a down payment on the house
Justin just found a job with a take-home pay of $2,000 per month. He must pay
$800 for rent and $200 for groceries each month. He also spends $200 per month
on transportation. If he budgets $100 each month for clothing, $150 for
