wise test econ practice

If a person makes a deposit of \$10,000 or more into a bank account, the bank must notify the

A person is depositing \$20 in cash and a check for \$50. On the checking account deposit slip, the person should

Safe-deposit boxes are:

Which financial product typically pays the highest rate of interest?

Troy has \$50 a month transferred electronically from his checking account to his savings account. This is an example of:

Which of the following is considered to be open-end credit?

To qualify for a Federal Housing Administration (FHA) loan, a person must generally

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?

What is meant by an uncollateralized loan?

When a person brings an item to a pawnshop to obtain cash, the transaction is considered

Which of the following does the Federal Reserve use to regulate the nation's money supply? \n

Which of the following is a disadvantage of using phone cards, debit cards, electronic transfers, and ATM cards?

Which statement is FALSE about most ATM (Automated Teller Machine) cards?

When money is not used and goods and services are exchanged for other goods and services, this system is called:

A man budgeted \$200 a month for clothing. This month the man spent \$150 on clothing therefore that budget item is considered to have

A person complains about how expensive it is to be a cigarette smoker. One of the reasons cigarettes are so expensive is that

A person's debt ratio shows the relationship between debt and net worth. The lower the ratio the

One of the benefits of holding an investment for over a year rather than selling it in less than a year is that the

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

A company offers a defined-contribution pension plan which means that upon retirement the employee will receive

A person owns a stock that pays a \$2.00 a share dividend. If the person chooses to reinvest that dividend, this means that the \$2.00 will go toward buying

An investor bought 40 shares of ABC corporation's stock at \$80 a share. Two weeks later, the investor receives notice that the corporation has approved a 2-for-1 stock split. Based on this information, the investor would own at the moment of the split

What is the largest equities market in the world?

A pharmacy is to drugs as the American Stock Exchange is to:

The interest earned on United States Series EE Savings Bonds is

To determine the time value of depositing \$100 in a savings account, a person needs to know the interest rate and

Lamar believes that interest rates are going to fall in the near future and remain low for a considerable period of time. She should invest in:

If a person has \$1,000 in a savings account and earns \$20 a year in interest on that account, the rate of return on the money is close to

Who benefits the most from inflation?

Interest earned on interest is known as:

A person buys a flat screen, plasma, theater-like television. The person has homeowner?s insurance. Why would it be appropriate to add a personal property floater to that insurance?

A woman has just received a very expensive piece of jewelry. The woman has homeowner's insurance. Which statement would it be most appropriate for her to make to her insurance agent?

For the past five years, a person has had a \$20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrender, the person will receive

Sally's health insurance policy requires her to pay the first \$500 of medical costs each year before the company will pay any of her medical bills. This policy provision is the:

Neil will be traveling by air in Southeast Asia for a six-week vacation. Which step will not provide protection during the trip?

Which financial product may pay a dividend?

Which financial product has the most predictable income?

Patty is selling her car through a newspaper advertisement. When she finds a buyer, she wants a form of payment which is guaranteed to be good. Which form of payment should she avoid?

When a person declares bankruptcy that fact will appear on the person?s credit report

Which of the following does the Federal Reserve use to regulate the nation's money supply? \n

Jami lost her debit card. She did not report it missing for 3 months. If an unauthorized person used her debit card, her maximum liability is:

Identify the background color of a U.S. \$5.00 bill.

The common name for the U.S. currency is

Using a brokerage firm, a qualified investor buys 1000 shares of a common stock at \$50 a share on 50% margin. This means that the

The time value of money refers to the concept that money:

Which investment would you choose today if you believe interest rates will go up?

A person is convinced that a lending institution is charging too much interest for a loan. This person should be aware that

The annual percentage rate (APR) is:

Why is term life insurance usually the least expensive type of life insurance?

Sally took out a \$50,000 life insurance policy. The \$50,000 amount of coverage is called the:

A blank endorsement on a check:

Pat has a savings account and a car loan from a not-for-profit financial institution owned by its members. She is probably a member of what type of financial institution?

Travelers checks, often used for vacations:

When a borrower fails to repay a loan and there is a co-signer on the loan, the most likely result will be

You are behind on your debt payments and go to a responsible credit counseling service, the Consumer Credit Counseling Services. How can they help you?

Which of the following statements is usually true about individuals who are financially literate?

A cash card generally:

Money for saving, investing, or spending cannot be from:

An important consideration when saving money for emergencies is:

Financial planning is important because it helps you to:

Julian is a single and recent college graduate who just got his first full-time job. Which of the following should be his first financial goal?

A good example of a well-stated financial goal is:

Financial plans need to:

A term that best describes your gross pay after taxes are deducted is:

Buying a treasury bill (T-bill) is best for investors who are looking for

What is the largest equities market in the world?

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:

The cost to use someone else's money for a period of time is called the:

What should a person do when he believes he is being charged too high a rate of interest for a loan by a lending institution?

John's job provided the main income for his family. He died unexpectedly and had no life insurance. The probable financial consequence for his wife and two children does not include:

The purpose of Insurance is NOT to:

A bank Certificate of Deposit is a

Money orders are

Joan wants to open a checking account and wonders if checking accounts pay interest. How would u answer her question?

Approximately, what is the annual finance charge for each \$100 owed on a credit card with a 16% APR?

Sharon is 20 years old. She has one gas, two bank, and two department store credit cards. Her application for another credit card has been declined. The probable reason is:

The denominations of coins in the US are:

Something you are working to achieve within a defined period of time is a(n):

In creating her budget, Ann realizes that her expenses exceed her income. Ann should immediately try to:

Which of the following is necessary for successful budgeting?

Expenditures that remain constant from one time period to another are:

The price of a security may b affected by:

If a person has \$1000 in a savings account and earns \$20 a year in interest on that account, the rate of return on the money is close to

The "Rule of 72" is an easy way to

Why might rising interest rates depress stock prices

Ben's truck is crushed by a hi-and-run driver. Scott is hit by an insured driver. How will they receive payments?

The only type of life insurance that does not develop a cash value is

Margaret wants to store a valuable coin collection and important papers. Generally, consumers should:

The best reason for depositing money in a bank or credit union savings account instead of keeping your money "under the mattress" is that:

Nora needed to make a long-distance call from a pay phone and did not have the cash. She was able to make the call by using her:

Money in the United States includes:

Lucy has no insurance. The situation(s) should she consider insuring against first are: