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Wise Exam
Personal finance
| Question | Answer |
|---|---|
| Consumer finance companies, which are often advertised on TV, are also known as: | Small loan companies |
| Money orders are: | A purchased certificate to pay a specified amount to a specific payee |
| Consumers who file for bankruptcy are still responsible for: | Tax claims and student loans |
| Matt's wallet, with all his credit cards, was stolen. He needs to: | Notify each credit card company immediately |
| 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? | Will I find a balance between financial rewards and personal satisfaction from work? |
| The price of the Candy Corporation stock will generally increase when there is: | Positive news about corporate earnings |
| A factor that is likely to affect the market price of a stock is: | Corporate profits |
| Generally, the higher the deductible on an insurance policy, the | lower the premium. |
| 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 reason cancelled checks are NOT returned is to | save the bank money associated with returning copies of these checks. |
| A credit card finance charge is: | The dollar amount it costs to use credit |
| Erika and Mark received an inheritance of $100,000. They plan to invest their inheritance money to buy a house in six years. Which of the following carries the greatest risk? | Common stocks |
| Which financial product may pay a dividend? | Common stock |
| The Equal Credit Opportunity Act: | Makes it illegal for creditors to grant credit on any characteristics other than those that reflect creditworthiness |
| Which of the following is your right as a shareholder of common stock? | The right to receive dividends if paid |
| Gwen receives a bill from her auto insurance company, and she sends a check to the company to make sure her policy is not cancelled. The cost of her policy is called the: | Premium |
| 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? | Credit union |
| What is the chief reason corporations issue stock? | To raise money for the corporation |
| You have a $2,000 loss. Your insurance company pays you $1,500 on the claim for the loss. The $500 the insurance did not pay is a result of your policy having a: | Deductible |
| The most liquid type of investment is: | A money market account |
| A blank endorsement on a check: | Creates a check that can be cashed by anyone |
| New coins and currency make their way into the general economy, consumers and businesses, through the distribution system of the: | Federal Reserve System |
| The phrase "don't put all your eggs in one basket" describes the following investment strategy? | Diversification |
| A person buys a homeowner?s insurance policy with a $250 deductible, which means the person will | have to pay the first $250 which will be deducted from the claim settlement paid by the insurance company. |
| 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: | Annual deductible |
| What lenders charge the highest interest rate? | Pawn shop |
| Money for saving, investing, or spending cannot be from: | Capital losses from the sale of stock |
| Shares of stock are also known as: | Equities |
| In comparing the difference in the rate of return between a safe and secure investment and a speculative investment, the investor should be aware that the return on a | speculative investment is usually higher than for a conservative or safe investment. |
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Gabbie452303