W!SE STUDY GUIDE EXAM 2025 QUESTIONS AND
ANSWERS
Which of the following does the Federal Reserve use to regulate the nation's
money supply? - (ANSWER)Monetary Policy
Money for saving, investing, or spending cannot be from: - (ANSWER)Capital
losses from the sale of stock
Nora needed to make a long-distance call from a pay phone and did not have the
cash. She was able to make the call by using her: - (ANSWER)Credit Card
A type of electronic funds transfer (EFT) is: - (ANSWER)an ATM transaction
The common name of U.S. currency is: - (ANSWER)Green Backs
To make sure you will always remember your automated teller machine (ATM)
card personal identification number (PIN), you should write the PIN and keep it: -
(ANSWER)in a secure place at home
A cash card generally - (ANSWER)Is purchased with a specific amount of money
that can be used to pay for goods or services
The denominations of coins in the United States are: - (ANSWER)$.01, $.05, $.10,
$.25, $.50, and $1.00
, Which statement best describes the relationship between a person's educational
level and that person's potential earning power? - (ANSWER)A person with a
professional degree is likely to earn at least four times as much per year as a
person who did not complete high school
New coins and currency make their way into the general economy, consumers
and businesses, through the distribution system of the: - (ANSWER)Federal
Reserve System
Scott just got an ATM card to use and must choose a PIN (Personal Identification
Number). How should he select a PIN that will give him maximum protection
against anyone else being able to find out what the PIN is? - (ANSWER)Use a
random selection of letter and numbers
Which statement is FALSE about most ATM (Automated Teller Machine) cards? -
(ANSWER)You can always get cash anywhere in the world with no fee
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 $75 back? -
(ANSWER)No bank or government agency is obligated to reimburse Susan
because she authorized Marie to use her ATM card and PIN
When money is not used and goods and services are exchanged for other goods
and services, this system is called: - (ANSWER)Barter
ANSWERS
Which of the following does the Federal Reserve use to regulate the nation's
money supply? - (ANSWER)Monetary Policy
Money for saving, investing, or spending cannot be from: - (ANSWER)Capital
losses from the sale of stock
Nora needed to make a long-distance call from a pay phone and did not have the
cash. She was able to make the call by using her: - (ANSWER)Credit Card
A type of electronic funds transfer (EFT) is: - (ANSWER)an ATM transaction
The common name of U.S. currency is: - (ANSWER)Green Backs
To make sure you will always remember your automated teller machine (ATM)
card personal identification number (PIN), you should write the PIN and keep it: -
(ANSWER)in a secure place at home
A cash card generally - (ANSWER)Is purchased with a specific amount of money
that can be used to pay for goods or services
The denominations of coins in the United States are: - (ANSWER)$.01, $.05, $.10,
$.25, $.50, and $1.00
, Which statement best describes the relationship between a person's educational
level and that person's potential earning power? - (ANSWER)A person with a
professional degree is likely to earn at least four times as much per year as a
person who did not complete high school
New coins and currency make their way into the general economy, consumers
and businesses, through the distribution system of the: - (ANSWER)Federal
Reserve System
Scott just got an ATM card to use and must choose a PIN (Personal Identification
Number). How should he select a PIN that will give him maximum protection
against anyone else being able to find out what the PIN is? - (ANSWER)Use a
random selection of letter and numbers
Which statement is FALSE about most ATM (Automated Teller Machine) cards? -
(ANSWER)You can always get cash anywhere in the world with no fee
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? -
(ANSWER)No bank or government agency is obligated to reimburse Susan
because she authorized Marie to use her ATM card and PIN
When money is not used and goods and services are exchanged for other goods
and services, this system is called: - (ANSWER)Barter
