Personal Finance WISE Test Questions
and Answers
Uninsured Motorist Correct Ans-Insurance that covers your car that is totaled by a hit and
run driver.
Owe government Correct Ans-This is what happens at tax time if you claimed more
allowances all year than you should have.
Long-Term Care Correct Ans-You are injured in an accident and you can't bathe, dress or feed
yourself. What type of insurance would you use?
Co-pay Correct Ans-Specific small dollar amount (about $10-$30) you pay your doctor each
time you visit.
$250,000 Correct Ans-FDIC insures up to how much per account type, per depositor.
Direct Deposit Correct Ans-Electronic banking service that enables you to have your
paycheck go right into your bank account.
Restrictive Correct Ans-Type of endorsement that only allows you to deposit a check into
your account.
, Credit Union Correct Ans-Type of financial institution that is not-for-profit and only serves its
members (better rates).
The Fed Correct Ans-Central bank of the United States, whose primary role in the U.S.
economy is the regulation of the money supply.
Certificate of Deposit Correct Ans-Type of savings account that requires you to keep your
money in the account for a specific period of time.
Rule of 72 Correct Ans-A way to quickly figure out how long it would take to double your
money.
MSRP Correct Ans-"Sticker price" or the price the manufacturer "tells" the dealer to sell a car
for.
FTC Correct Ans-The nation's consumer protection agency that enforces laws and hears
complaints.
Comprehensive Correct Ans-Your car is stolen and then set on fire. What type of insurance
do you need?
APR Correct Ans-Percentage cost of credit on a yearly basis.
and Answers
Uninsured Motorist Correct Ans-Insurance that covers your car that is totaled by a hit and
run driver.
Owe government Correct Ans-This is what happens at tax time if you claimed more
allowances all year than you should have.
Long-Term Care Correct Ans-You are injured in an accident and you can't bathe, dress or feed
yourself. What type of insurance would you use?
Co-pay Correct Ans-Specific small dollar amount (about $10-$30) you pay your doctor each
time you visit.
$250,000 Correct Ans-FDIC insures up to how much per account type, per depositor.
Direct Deposit Correct Ans-Electronic banking service that enables you to have your
paycheck go right into your bank account.
Restrictive Correct Ans-Type of endorsement that only allows you to deposit a check into
your account.
, Credit Union Correct Ans-Type of financial institution that is not-for-profit and only serves its
members (better rates).
The Fed Correct Ans-Central bank of the United States, whose primary role in the U.S.
economy is the regulation of the money supply.
Certificate of Deposit Correct Ans-Type of savings account that requires you to keep your
money in the account for a specific period of time.
Rule of 72 Correct Ans-A way to quickly figure out how long it would take to double your
money.
MSRP Correct Ans-"Sticker price" or the price the manufacturer "tells" the dealer to sell a car
for.
FTC Correct Ans-The nation's consumer protection agency that enforces laws and hears
complaints.
Comprehensive Correct Ans-Your car is stolen and then set on fire. What type of insurance
do you need?
APR Correct Ans-Percentage cost of credit on a yearly basis.
