WISE 101 EXAM QUESTIONS AND
ANSWERS. VERIFIED 2025/2026.
"The Fed" is short for: - ANS Short for the Federal Reserve, the central banking system of the
United States responsible for regulating the nation's financial institutions and money supply.
A cash card generally: - ANS A plastic card that allows the holder to withdraw cash or pay for
goods and services using funds from their bank account.
A company offers direct deposit of employees' earnings. The company will still provide each
employee with a statement that lists the employee's - ANS gross pay, the amount and type of
deductions and net pay
A credit card finance charge is: - ANS The cost of borrowing on a credit card, calculated as a
percentage of the unpaid balance.
A Dante Oil Corporation tanker collided with another ship causing a major oil spill that will
destroy the environment in the area for years and will cost billions for cleanup. The price of
Dante is likely to: - ANS drop/decrease
A factor that is likely to affect the market price of a stock is: - ANS news, trends, liquidity,
inflation, market sentiment, GDP, unemployment, incidental transactions, interest rates, supply
and demand in the stock market, trade wars, economic policy changes, natural calamities,
deflation, and exchange rates
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, A government report indicated that the use of Pax's aspirin-free painkiller resulted in 100 cases
of stomach poisoning. A large number of Pax's stockholders are likely to: - ANS sell their
shares to minimize potential financial losses
A high school student has begun to investigate the field of finance as a career choice. In
deciding about the field, the student should focus on which question first? - ANS Will I find a
balance between financial rewards and personal satisfaction from work?
A person is depositing $20 in cash and a check for $50. On the checking account deposit slip, the
person should - ANS list the cash deposit of $20 on the designated line for cash, and the
check deposit of $50 on a separate line reserved for checks
A teenage boy has opened a checking account. He is surprised to find that though he is getting a
written bank statement each month he is not getting his cancelled checks returned. The
teenager should be aware that the reason cancelled checks are NOT returned is to - ANS Save
the bank money associated with returning copies of these checks.
A type of electronic funds transfer (EFT) is: - ANS a broad term for a payer sending money
and a payee receiving money through an online payment system
An investor buys 100 shares of a common stock @ $36.00 a share. The stock is now selling at $
38.00 a share. When deciding whether to hold or sell the stock, which factor is it important for
the investor to consider? - ANS The commission charged for buying and selling stock
Approximately, what is the annual finance charge for each $100 owed on a credit card with a
16% annual interest rate (APR)? - ANS 16% of $100 = $16
Banks use savings account deposits to: - ANS make loans to other people and businesses in
your community
Ben's truck is crushed by a hit-and-run driver. Scott is hit by an uninsured driver. How will they
receive payments? - ANS From his own insurance company. Uninsured or no-fault motorist
coverage
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
ANSWERS. VERIFIED 2025/2026.
"The Fed" is short for: - ANS Short for the Federal Reserve, the central banking system of the
United States responsible for regulating the nation's financial institutions and money supply.
A cash card generally: - ANS A plastic card that allows the holder to withdraw cash or pay for
goods and services using funds from their bank account.
A company offers direct deposit of employees' earnings. The company will still provide each
employee with a statement that lists the employee's - ANS gross pay, the amount and type of
deductions and net pay
A credit card finance charge is: - ANS The cost of borrowing on a credit card, calculated as a
percentage of the unpaid balance.
A Dante Oil Corporation tanker collided with another ship causing a major oil spill that will
destroy the environment in the area for years and will cost billions for cleanup. The price of
Dante is likely to: - ANS drop/decrease
A factor that is likely to affect the market price of a stock is: - ANS news, trends, liquidity,
inflation, market sentiment, GDP, unemployment, incidental transactions, interest rates, supply
and demand in the stock market, trade wars, economic policy changes, natural calamities,
deflation, and exchange rates
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, A government report indicated that the use of Pax's aspirin-free painkiller resulted in 100 cases
of stomach poisoning. A large number of Pax's stockholders are likely to: - ANS sell their
shares to minimize potential financial losses
A high school student has begun to investigate the field of finance as a career choice. In
deciding about the field, the student should focus on which question first? - ANS Will I find a
balance between financial rewards and personal satisfaction from work?
A person is depositing $20 in cash and a check for $50. On the checking account deposit slip, the
person should - ANS list the cash deposit of $20 on the designated line for cash, and the
check deposit of $50 on a separate line reserved for checks
A teenage boy has opened a checking account. He is surprised to find that though he is getting a
written bank statement each month he is not getting his cancelled checks returned. The
teenager should be aware that the reason cancelled checks are NOT returned is to - ANS Save
the bank money associated with returning copies of these checks.
A type of electronic funds transfer (EFT) is: - ANS a broad term for a payer sending money
and a payee receiving money through an online payment system
An investor buys 100 shares of a common stock @ $36.00 a share. The stock is now selling at $
38.00 a share. When deciding whether to hold or sell the stock, which factor is it important for
the investor to consider? - ANS The commission charged for buying and selling stock
Approximately, what is the annual finance charge for each $100 owed on a credit card with a
16% annual interest rate (APR)? - ANS 16% of $100 = $16
Banks use savings account deposits to: - ANS make loans to other people and businesses in
your community
Ben's truck is crushed by a hit-and-run driver. Scott is hit by an uninsured driver. How will they
receive payments? - ANS From his own insurance company. Uninsured or no-fault motorist
coverage
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
