Wise Financial Literacy Test
Questions and Answers 100%
Pass
If you have a whole life insurance policy with a cash surrender value, and you
surrender the policy, what will you receive? - CORRECT ANSWER-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? - CORRECT ANSWER-Income on stocks
What is a bull/bear market? - CORRECT ANSWER-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? - CORRECT ANSWER-the amounts of money you get
taken away from taxes for having dependents
Annual deductible - CORRECT ANSWER-What you have to pay in the beginning
of the year before insurance kicks in
Questions and Answers 100%
Pass
If you have a whole life insurance policy with a cash surrender value, and you
surrender the policy, what will you receive? - CORRECT ANSWER-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? - CORRECT ANSWER-Income on stocks
What is a bull/bear market? - CORRECT ANSWER-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? - CORRECT ANSWER-the amounts of money you get
taken away from taxes for having dependents
Annual deductible - CORRECT ANSWER-What you have to pay in the beginning
of the year before insurance kicks in
