Wise Pre-test 2 Question Preview (ID: 20932)
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What is the Disadvantage of making a check payable to cash. Pay to the order of : CASH
a) Anyone can exchange the check for cash
b) the check can be cashed for any amount
c) there is no way to record the check in the check register.
d) the check can only be deposited in the payer's bank
If a person receives a $10,000 credit limit from a credit card company, it means that the person
a) can charge up to $10,000
b) may purchase any one item that cost more than $10,000
c) can make purchases interest-free until $10,000 hs been charged
d) is responsible for up to $10,000 of debt.
the major reason people prefer to have direct deposit of their pay rather than receiving an actual paycheck is that.
a) Banks provide depositors with interest-free loan and free checking
b) money is safely deposited into their designated accounts and easily accessible.
c) federal and state governments receive payroll taxes owed immediately
d) utility and credit card bills can be electronic transferred on their due dates .
buying insurance is a way to
a) protect one's purchasing power
b) postpone income tax payments until retirement.
c) avoid losses associated with an investments in stocks
d) .protect against the risk associated with potential losses.
when investors hold shares of stock in public corporation they are.
a) entitled to interest on profits
b) owners of the corporation
c) lenders to the corporation
d) required to attend annual meetings.
For what reason do financial advisors suggest investing some money in stocks rather than depositing all on ones money in saving account
a) it is a good way to build a six month emergency fund
b) The guaranteed rate of interest in higher for stocks
c) there is a chance, overtime , of earnings a greater return on the money
d) it reduces the risk of losing money over time.
which factors do insurance companies consider important in determining the premium for automobile insurance.
a) Past claims and type of car owned
b) job title and length of employment
c) Amount of nighttime and winter driving
d) level of education of household income.
One important reason fro an individual to buy a homeowners insurance is that it .
a) Increases the value of the persons property
b) protects the person in case he is injured on the job.
c) allows the person to deduct the premiums costs from his taxes
d) offers the person protection if someone is hurt on his property.
Mutual funds are investments in
a) local and state governments at fixed rate of interest.
b) banks or other financial institutions for a set period of time
c) a variety of stocks and bonds: the investments are manged by a professional or company.
d) the united states department of Treasury: the investments is managed ny the government.
The monthly payments on homeowners 5.5% fixed rate mortgage will
a) be the same amount for the entire life of the loan
b) fluctuate depending on the value of the property
c) be determined by the average interest rate during the preceding year.
d) decreaser each month as the balance of the loan decreases .
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