WISE Practice Test 2 Exam Questions With 100% Correct Answers 2024/2025

WISE Practice Test 2 Exam Questions With 100% Correct Answers 2024/2025 What should a person do when he believes he is being charged too high a rate of interest for a loan by a lending institution? - answerNotify the lending institution about state usury laws. Which is the best example of a way to reduce fees paid for ATM transactions? - answerWhen making supermarket purchases with a debit card, a person adds $50 in cash to the transaction instead of using an ATM machine. A person owns a stock that pays a $2.00 a share dividend. If the person chooses to reinvest that dividend, this means that the $2.00 will go toward buying - answermore of the same stock. A dividend reinvestment plan is designed to help the shareholder acquire additional shares sof the stock by immediately reinvesting the dividend in the same company's stock as soon as the dividend is declared. The shareholder is still responsible for paying taxes on the dividends earned. Susan gives Marie her ABC Credit Union debit card and personal identification number (PIN) so Marie could get $25 from Susan's bank account. Marie withdrew $100 instead of the agreed to $25. How can Susan get the $75 back? - answerNo bank or government agency is obligated to reimburse Susan because she authorized Marie to use her ATM card and PIN 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 - answerbrokerage firm is lending the investor 50% of the money. Which documents should be stored in a safe deposit box? - answerMortgage loan papers. What is the largest equities market in the world? - answerNew York Stock Exchange (NYSE) One of the benefits of holding an investment for over a year rather than selling it in less than a year is that the - answercapital gains on the investment will be taxed at a lower rate. An investor bought 40 shares of ABC corporation's stock at $80 a share. Two weeks later, the investor receives notice that the corporation has approved a 2-for-1 stock split. Based on this information, the investor would own at the moment of the split - answer80 shares of the stock and the price of each share is $40.