WISE CERTIFICATION EXAMINATION TEST
2026 QUESTIONS WITH ANSWERS GRADED
A+
◉ Troy has $50 a month transferred electronically from his checking
account to his savings account. This is an example of: Answer: A
savings plan
◉ Employees prefer direct deposits because: Answer: The money is
generally deposited in their checking account sooner than it would
be if they had to deposit it in person
◉ A person is depositing $20 in cash and a check for $50. On the
checking account deposit slip, the person should Answer: List the
cash deposit it separately from the check as well as the total of the
deposit
◉ A person has three credit cards with very large outstanding
balances and is unable to make payments on any of them. Which
action should the person take? Answer: Notify the credit card
companies in order to negotiate a new payment plan
◉ To qualify for a Federal Housing Administration (FHA) loan, a
person must generally Answer: Fulfill income guidelines
,◉ When a person declares bankruptcy that fact will appear on the
person's credit report Answer: For a 10 year period
◉ Which of the following is considered to be open-end credit?
Answer: Department store charge cards
◉ What is meant by an uncollateralized loan? Answer: A person loan
without assets to cover the loan amount
◉ Which of the following does the Federal Reserve use to regulate
the nation's money supply? Answer: Monetary policy
◉ Money for saving, investing, of spending cannot be from: Answer:
Capital losses from the sale of stock
◉ Susan gives Marie her ABC Credit Union debit card & personal
identification number (PIN) so Marie could get $25 from Susan's
bank account. Marie withdrew $100 instead of the agreed $25. How
can Sudan get the $75 back? Answer: No bank or government agency
is obligated to reimburse Susan because she authorized Marie to use
her ATM card & PIN
, ◉ Which of the following is a disadvantage of using phone cards,
debit cards, electronic transfers, and ATM cards? Answer: They
expose consumers to greater likelihood of identify theft
◉ A person complains about how expensive it is to be a cigarette
smoker. Once of the reasons cigarettes are so expensive is that
Answer: The government imposes an excise tax on them
◉ One of the benefits of holding an investment for over a year rather
than selling it in less than a year is that the Answer: Capital gains on
the investment will be taxed at a lower rate
◉ A man budgeted $200 a month for clothing. This month the man
spent $150 on clothing therefore that budgeted item is considered to
have Answer: A budget variance
◉ A persons debt ration shows the relationship between debt and
net worth. The lower the ratio the Answer: Better off financially the
person is
◉ After five years of owning a Roth Individual Retirement Account
(IRA) a person wants to buy his first home, the person can withdraw
money from the Roth IRA Answer: Tax & penalty fee
2026 QUESTIONS WITH ANSWERS GRADED
A+
◉ Troy has $50 a month transferred electronically from his checking
account to his savings account. This is an example of: Answer: A
savings plan
◉ Employees prefer direct deposits because: Answer: The money is
generally deposited in their checking account sooner than it would
be if they had to deposit it in person
◉ A person is depositing $20 in cash and a check for $50. On the
checking account deposit slip, the person should Answer: List the
cash deposit it separately from the check as well as the total of the
deposit
◉ A person has three credit cards with very large outstanding
balances and is unable to make payments on any of them. Which
action should the person take? Answer: Notify the credit card
companies in order to negotiate a new payment plan
◉ To qualify for a Federal Housing Administration (FHA) loan, a
person must generally Answer: Fulfill income guidelines
,◉ When a person declares bankruptcy that fact will appear on the
person's credit report Answer: For a 10 year period
◉ Which of the following is considered to be open-end credit?
Answer: Department store charge cards
◉ What is meant by an uncollateralized loan? Answer: A person loan
without assets to cover the loan amount
◉ Which of the following does the Federal Reserve use to regulate
the nation's money supply? Answer: Monetary policy
◉ Money for saving, investing, of spending cannot be from: Answer:
Capital losses from the sale of stock
◉ Susan gives Marie her ABC Credit Union debit card & personal
identification number (PIN) so Marie could get $25 from Susan's
bank account. Marie withdrew $100 instead of the agreed $25. How
can Sudan get the $75 back? Answer: No bank or government agency
is obligated to reimburse Susan because she authorized Marie to use
her ATM card & PIN
, ◉ Which of the following is a disadvantage of using phone cards,
debit cards, electronic transfers, and ATM cards? Answer: They
expose consumers to greater likelihood of identify theft
◉ A person complains about how expensive it is to be a cigarette
smoker. Once of the reasons cigarettes are so expensive is that
Answer: The government imposes an excise tax on them
◉ One of the benefits of holding an investment for over a year rather
than selling it in less than a year is that the Answer: Capital gains on
the investment will be taxed at a lower rate
◉ A man budgeted $200 a month for clothing. This month the man
spent $150 on clothing therefore that budgeted item is considered to
have Answer: A budget variance
◉ A persons debt ration shows the relationship between debt and
net worth. The lower the ratio the Answer: Better off financially the
person is
◉ After five years of owning a Roth Individual Retirement Account
(IRA) a person wants to buy his first home, the person can withdraw
money from the Roth IRA Answer: Tax & penalty fee
