WISE TEST LATEST REAL EXAM 180+ QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE
It is usually a good idea to borrow for - ANSWER: Something that increases in value
over time
A person generally pays a lower interest rate on a car loan then on a personal loan
because the - ANSWER: Car is collateral for the loan
Who is most likely to use the service of a non-Bank consumer finance company -
ANSWER: Individuals who cannot get a loan from a bank or credit union
Which financial advisor is recommending a long-term investment that lowers
investment risk - ANSWER: Advisor C invest in mutual funds
Why do investors by stop that pay dividends - ANSWER: Investors receive payments
from the company during the year
A college student has a joint credit card with her mother. During the first semester,
the student charges a total of $1500 for books, movies and clothes. The credit card
bill for $1500 will have to be paid by the - ANSWER: Mother and/or the students
since both individuals are responsible for repairing any debt
The rule of 72 helps a person determine the - ANSWER: Number of years it takes to
double money at a given interest rate
The cost of car insurance is affected by the - ANSWER: Kind of car owned
Why do financial advisors warn people against taking payday loans - ANSWER: These
loans often results in a pattern of need to continue borrowing
If a person believes that he is a victim of identity theft, he must - ANSWER: File a
report with the police and get a copy of the report
A stock is characterized as a "growth" stock because the expectation is for the
corporation to - ANSWER: Have significant increase in sales and earnings
A public corporation announced today that it lost a major lawsuit. As a result, it is
most likely that the - ANSWER: Price of the stock will decrease
Which method is used to determine a persons net worth - ANSWER: Assets minus
liabilities equal net worth
JoBlo, who is financially supporting his 10-year-old daughter, is able to reduce the
amount of tax taken out of his salary by claiming his daughter as a - ANSWER:
Dependent
, Why does a person renting an apartment by renters insurance - ANSWER: To protect
her personal property in case of fire or theft
A person generally spends $100 a month on groceries. If this years inflation rate is
5%, the person can expect to - ANSWER: Spend more for the same amount of
groceries
A person should consider paying her monthly bills automatically from her checking
account because it - ANSWER: Makes it easier to pay the bills on time each month
The reason corporations issue bonds is to - ANSWER: Borrow money from investors
What needs to be included in a will - ANSWER: The names of beneficiaries
When applying for a loan, the higher a persons credit score/rating the - ANSWER:
Lower the interest rate will be for the loan
What is a good strategy to build wealth for the future - ANSWER: Deposit money into
both savings and investment account each month
A person refuses to open a savings account because he works at the bank will feel
and you will lose all of his money. What does this person needs to know - ANSWER:
Accounts at the FDIC members are insured up to $250,000
The government taxes cigarettes in order to raise revenue and to - ANSWER:
Discourage smoking
The reason that a person should avoid making a check payable to cash is that -
ANSWER: Anyone can cash the check if it is stolen
The federal reserve system helps protect depositors and its member Banks by setting
- ANSWER: Requirements as to the amount of money a member bank must have on
deposit
Who suffers the least when the rate of inflation increases - ANSWER: Can you hear
me people who have a loan with a fixed interest rate
A person has a car loan with a 10% interest rate. The loan would cost us more money
if it is paid back in - ANSWER: Three years
A person has $2000 to save her invest. If the person is going to believe that the
interest rate will go up next year, the person should - ANSWER: Buy a three month
certificate of deposit (CD)
As a result of putting a "stop payment" on a check, a person will - ANSWER: Have to
pay a fee for the service so I need to
CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE
It is usually a good idea to borrow for - ANSWER: Something that increases in value
over time
A person generally pays a lower interest rate on a car loan then on a personal loan
because the - ANSWER: Car is collateral for the loan
Who is most likely to use the service of a non-Bank consumer finance company -
ANSWER: Individuals who cannot get a loan from a bank or credit union
Which financial advisor is recommending a long-term investment that lowers
investment risk - ANSWER: Advisor C invest in mutual funds
Why do investors by stop that pay dividends - ANSWER: Investors receive payments
from the company during the year
A college student has a joint credit card with her mother. During the first semester,
the student charges a total of $1500 for books, movies and clothes. The credit card
bill for $1500 will have to be paid by the - ANSWER: Mother and/or the students
since both individuals are responsible for repairing any debt
The rule of 72 helps a person determine the - ANSWER: Number of years it takes to
double money at a given interest rate
The cost of car insurance is affected by the - ANSWER: Kind of car owned
Why do financial advisors warn people against taking payday loans - ANSWER: These
loans often results in a pattern of need to continue borrowing
If a person believes that he is a victim of identity theft, he must - ANSWER: File a
report with the police and get a copy of the report
A stock is characterized as a "growth" stock because the expectation is for the
corporation to - ANSWER: Have significant increase in sales and earnings
A public corporation announced today that it lost a major lawsuit. As a result, it is
most likely that the - ANSWER: Price of the stock will decrease
Which method is used to determine a persons net worth - ANSWER: Assets minus
liabilities equal net worth
JoBlo, who is financially supporting his 10-year-old daughter, is able to reduce the
amount of tax taken out of his salary by claiming his daughter as a - ANSWER:
Dependent
, Why does a person renting an apartment by renters insurance - ANSWER: To protect
her personal property in case of fire or theft
A person generally spends $100 a month on groceries. If this years inflation rate is
5%, the person can expect to - ANSWER: Spend more for the same amount of
groceries
A person should consider paying her monthly bills automatically from her checking
account because it - ANSWER: Makes it easier to pay the bills on time each month
The reason corporations issue bonds is to - ANSWER: Borrow money from investors
What needs to be included in a will - ANSWER: The names of beneficiaries
When applying for a loan, the higher a persons credit score/rating the - ANSWER:
Lower the interest rate will be for the loan
What is a good strategy to build wealth for the future - ANSWER: Deposit money into
both savings and investment account each month
A person refuses to open a savings account because he works at the bank will feel
and you will lose all of his money. What does this person needs to know - ANSWER:
Accounts at the FDIC members are insured up to $250,000
The government taxes cigarettes in order to raise revenue and to - ANSWER:
Discourage smoking
The reason that a person should avoid making a check payable to cash is that -
ANSWER: Anyone can cash the check if it is stolen
The federal reserve system helps protect depositors and its member Banks by setting
- ANSWER: Requirements as to the amount of money a member bank must have on
deposit
Who suffers the least when the rate of inflation increases - ANSWER: Can you hear
me people who have a loan with a fixed interest rate
A person has a car loan with a 10% interest rate. The loan would cost us more money
if it is paid back in - ANSWER: Three years
A person has $2000 to save her invest. If the person is going to believe that the
interest rate will go up next year, the person should - ANSWER: Buy a three month
certificate of deposit (CD)
As a result of putting a "stop payment" on a check, a person will - ANSWER: Have to
pay a fee for the service so I need to
