WISE CERTIFICATION COMPREHENSIVE EXAM
2026 QUESTIONS AND ANSWERS GRADED A+
◉ examples of net worth. Answer: what I own minus what I owe
◉ Retirement. Answer: How different plans/accounts work and
when taxes are paid on funds
◉ Pensions: Answer: A pension plan is a retirement plan which is
sponsored by an employer.
◉ 401k plans:. Answer: an account that an employee uses to save for
retirement. This account allows the worker to defer current income
taxes on the saved money and interest earnings until he or she
withdraws the money.
◉ Traditional Individual Retirement Accounts (Traditional IRA).
Answer: An IRA is an individual retirement account. A traditional
IRA is tax deductible, and you can contribute $6000 a year to it. You
will pay taxes on the money when you withdraw it in retirement.
◉ Roth Individual Retirement Account (Roth IRA). Answer: is a type
of IRA that does not give you a tax benefit for contributing like a
, traditional IRA does. Instead the money in the account grows tax
free and can be withdrawn at retirement without paying any taxes.
◉ Inflation. Answer: the general rise of price levels
◉ who suffers in inflation. Answer: creditors, people living on fixed
income, and people trying to save
◉ Who benefits from inflation. Answer: people who owe significant
debt
◉ Deflation:. Answer: is when the cost of consumer goods is actually
declining
◉ who benefits from deflation. Answer: consumers
◉ who suffers from deflation. Answer: if there is a prolonged period
of deflation, companies will begin to suffer as will the overall
economy
◉ economic depression:. Answer: a period of time in which the
economy has reached the lowest point possible. Production and
consumption decreases drastically, and unemployment rises.
2026 QUESTIONS AND ANSWERS GRADED A+
◉ examples of net worth. Answer: what I own minus what I owe
◉ Retirement. Answer: How different plans/accounts work and
when taxes are paid on funds
◉ Pensions: Answer: A pension plan is a retirement plan which is
sponsored by an employer.
◉ 401k plans:. Answer: an account that an employee uses to save for
retirement. This account allows the worker to defer current income
taxes on the saved money and interest earnings until he or she
withdraws the money.
◉ Traditional Individual Retirement Accounts (Traditional IRA).
Answer: An IRA is an individual retirement account. A traditional
IRA is tax deductible, and you can contribute $6000 a year to it. You
will pay taxes on the money when you withdraw it in retirement.
◉ Roth Individual Retirement Account (Roth IRA). Answer: is a type
of IRA that does not give you a tax benefit for contributing like a
, traditional IRA does. Instead the money in the account grows tax
free and can be withdrawn at retirement without paying any taxes.
◉ Inflation. Answer: the general rise of price levels
◉ who suffers in inflation. Answer: creditors, people living on fixed
income, and people trying to save
◉ Who benefits from inflation. Answer: people who owe significant
debt
◉ Deflation:. Answer: is when the cost of consumer goods is actually
declining
◉ who benefits from deflation. Answer: consumers
◉ who suffers from deflation. Answer: if there is a prolonged period
of deflation, companies will begin to suffer as will the overall
economy
◉ economic depression:. Answer: a period of time in which the
economy has reached the lowest point possible. Production and
consumption decreases drastically, and unemployment rises.
