Wise Financial Literacy Test Questions and Answers | 100% Correct Answer | Grade A+

If you have a whole life insurance policy with a cash surrender value, and you surrender the policy, what will you receive? Ans: a calculated amount of money which includes part of the premiums paid as well as the interest on that money (because they're not going to give you the whole amount back) What is capital gain? Ans: Income on stocks What is a bull/bear market? Ans: A bull market is a promising market (bull attacks up) A bear market is a market that isn't doing well (bear attacks down) What is an exemption? Ans: the amounts of money you get taken away from taxes for having dependents Annual deductible Ans: What you have to pay in the beginning of the year before insurance kicks in Managed Health Care Plan Ans: -you have to go to your primary care physician who determines whether you should see a specialist -co-pays at the primary care physicia