Wise Practice Test Questions with
Solutions
How to reduce fees paid for ATM transactions? Correct Ans-When making supermarket
purchases with a debit card, a person adds $50 in cash to the transaction instead of using an
ATM machine.
Series EE savings bond Correct Ans-financial product can you buy for $25, is safe, and will be
worth $50 at a future date?
Savings account interest Correct Ans-Is taxable
Money orders are: Correct Ans-A purchased certificate to pay a specified amount to a
specific payee
Credit unions Correct Ans-Are insured by National Credit Union Administration (NCUA),up to
$100,000
Monetary policy Correct Ans-The Federal Reserve uses to regulate the nation's money
supply?
debit card Correct Ans-Purchases made with your debit card are usually Deducted
immediately from your checking account
, ATM (Automated Teller Machine) Correct Ans-a computer terminal that you can use to make
deposits, withdraw cash, transfer money between accounts, check your account balances, and
pay some kinds of bills
Money in the United States includes: Correct Ans-consists of coins, paper currency, checking
account balances on which checks can be drawn, savings deposits, and time deposits such as
CDs and money market funds.
ATM Pin number Correct Ans-You should never write any PIN on something that might be
stolen. Write your PIN down and keep it in a secure place in your home.
Financially literate? Correct Ans-They understand the basics of personal finance and money
management
Capital gains Correct Ans-provides an increase in assets or wealth?
electronic funds transfer (EFT) is: Correct Ans-An ATM transaction,authorize a financial
institution to debit or credit an account
Identity Theft Correct Ans-exposes consumers to greater likelihood of fraud and/or identity
theft.
Solutions
How to reduce fees paid for ATM transactions? Correct Ans-When making supermarket
purchases with a debit card, a person adds $50 in cash to the transaction instead of using an
ATM machine.
Series EE savings bond Correct Ans-financial product can you buy for $25, is safe, and will be
worth $50 at a future date?
Savings account interest Correct Ans-Is taxable
Money orders are: Correct Ans-A purchased certificate to pay a specified amount to a
specific payee
Credit unions Correct Ans-Are insured by National Credit Union Administration (NCUA),up to
$100,000
Monetary policy Correct Ans-The Federal Reserve uses to regulate the nation's money
supply?
debit card Correct Ans-Purchases made with your debit card are usually Deducted
immediately from your checking account
, ATM (Automated Teller Machine) Correct Ans-a computer terminal that you can use to make
deposits, withdraw cash, transfer money between accounts, check your account balances, and
pay some kinds of bills
Money in the United States includes: Correct Ans-consists of coins, paper currency, checking
account balances on which checks can be drawn, savings deposits, and time deposits such as
CDs and money market funds.
ATM Pin number Correct Ans-You should never write any PIN on something that might be
stolen. Write your PIN down and keep it in a secure place in your home.
Financially literate? Correct Ans-They understand the basics of personal finance and money
management
Capital gains Correct Ans-provides an increase in assets or wealth?
electronic funds transfer (EFT) is: Correct Ans-An ATM transaction,authorize a financial
institution to debit or credit an account
Identity Theft Correct Ans-exposes consumers to greater likelihood of fraud and/or identity
theft.
