Wise-PreTest Missed Question Preview (ID: 21204)
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On January 1, $1000.00 was deposited in each of three separate savings accounts with an interest rate of %2. At the end of the year , which account will have the most amount of money.
a) account paying interest compounded yearly
b) account paying interest compounded quarterly
c) account paying interest compounded daily
d) all account will have equal balances.
What happens if you buy a 10 year bond Fixed rate bond
a) The interest stays the same for the life of he Bond
b) The interest changes from year to year on the Bond
c) nothing
d) Balance budget = Total income= expenses - savings
Which is considered a variable expense ina budget
a) Life insurance
b) rent
c) car loan payments
d) food
What can cause the price of a stock to go up
a) within a short period of time
b) The CEO announces that stock prices are going up
c) In 4 equal payments with interest.
d) A new product release
Financial planning allows individuals to ?
a) allows bank depositors to buy law cost life insurance
b) protects a bank account from being closed in the event of personal bankruptcy
c) make strategies for savings and investing
d) permits bank accounts to earn the highest interest rate available.
One way to establish credit is to
a) take out a small loan using a savings account as collateral and pay it back on time
b) obtain a reference letter from an employer
c) directly deposit a paycheck in a saving account
d) make a major purchase with cash rather than using credit cards.
which of the following is a sign that a person is having financial problems
a) changing jobs for a higher salary
b) paying bills with credit card cash advance
c) having high car expenses
d) using checks to pay for bills
Effective goals should have
a) at least 5 years to accomplish
b) offer a variety of services not available at banks
c) do not check the customers's credit report
d) They should have a target date
What is the advantage of having money is a savings account rather than in CD
a) money earns higher interest in savings
b) interest earned in saving is not taxable
c) interest in savings account is variable
d) Money in the savings account has greater liquidity.
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 .
A rising rate of inflation is most difficult for people who are
a) paying off old fixed-rate loans
b) working in their jobs for less than five years
c) small business owners
d) living on fixed incomes
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