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

Wise Practice Test Exam Questions With 100% Correct Answers 2024/2025 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 the unauthorized purchases he is he liable for is: c.The total amount b.$50 d.$25 - answerB Why is term life insurance usually the least expensive type of life insurance? a. The policy only pays a death benefit b. The policy builds a cash value c. The policy provides coverage for a lifetime d. The policy is available to all consumers - answerA John has a college student loan that he has to repay after he graduates. He will make his monthly payments over ten years. He has the following kind of loan: a. Secured c. Diversified b. Non-installment d. Installment - answerD A savings account earns the greatest amount of money when the interest on the account is compounded a. yearly. c. monthly. b. quarterly. d. daily. - answerD When a borrower fails to repay a loan and there is a co-signer on the loan, the most likely result will be a. The co-signer will be held responsible for the repayment of the entire loan plus fees or penalties. b. Only the co-signer?s credit report will show that there has been a default on the loan. c. The co-signer will be held responsible for one-half the repayment of the loan. d. The co-signer has the opportunity to renegotiate the loan. - answerA What is the chief reason corporations issue stock? a. To raise money for the corporation b. To give consumers ownership in their company c. To secure tax advantages d. To help the economy - answerA 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? - answerA 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? a. Demand the ABC Credit Union reimburse her for Marie's unauthorized transaction b. File a complaint with the Federal Reserve Board to reimburse her for Marie's unauthorized transaction c. Demand that the bank where Marie has her checking account reimburse her for Marie's unauthorized transaction d. No bank or government agency is obligated to reimburse Susan because she authorized Marie to use her ATM card and PIN - answerD If a business wants to raise capital but not create debt, it can: a. Float a bond issue b. Issue common stock c. Borrow money from a commercial bank d. Borrow money from the government - answerB