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WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND VERIFIED SOLUTIONS

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WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND 
VERIFIED SOLUTIONS

Which of the following is the federal law that requires the cost of credit to be 
disclosed to consumers in bold print on own agreement? - Truth in Lending Act
Who benefits the most from inflation? - Long-term fixed rate borrowers
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? - Notify the lending institution about 
state usury laws
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? - "I think I need a personal property floater."
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: - calculated amount of money which 
includes the premiums paid as well as the interest on that money
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? - To cover the cost of replacement should be television 
get damaged or stolen
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
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: - An increased in income and expenses
If a person makes a deposit of $10,000 or more into a bank account, the bank 
must notify the: - US Treasury Department
The most liquid type of investment is: - A money market account.
He financial institution where Ms. Sanchez has her checking account will continue 
to pay out money for the checks she writes as long as: - There is enough money in 
Ms. Sanchez's account to cover the amount if the checks
Money orders are: - A purchased certificate to pay a specified amount to a 
specific payee
The best suggestion you gave a friend who is writing a check for the first time is: -
Date the check because it is usually proof of payment
To qualify for a Federal Housing administration (FHA) loan, a person must 
generally: - fulfill income guidelines
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? -
Notify the credit card companies in order to negotiate a new payment plan
What is meant by an uncollateralized loan? - A personal loan without assets to 
cover the loan amount
When a person declares bankruptcy that fact will appear on the person's credit 
report: - For a 10 year period
Which of following is considered to be opened credit? - Department store charge 
cards
When a person brings an item to a pawnshop to obtain cash, the transaction is 
considered: - a collateralized loan
Predatory lending practices generally include: -Very high interest rates and fees
You can continue to change purchases on your credit card when: - The amount 
you owe on the card is below your credit limit
Which of the following does the federal Reserve use to regulate the nation's 
money supply? - Monetary policy
Money of saving, investing, or spending cannot be from: - Capital losses from the 
sale of stock
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: - cash card
A cash card generally: - Is purchased with a specific amount of money that can be 
used to pay for goods or services
 

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[Solved] WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND VERIFIED SOLUTIONS

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WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND VERIFIED SOLUTIONS Which of the following is the federal law that requires the cost of credit to be disclosed to consumers in bold print on own agreement? - Truth in Lending Act Who benefits the most from inflation? - Long-term fixed rate borrowers 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? - Notify the lending institution about state usury laws 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? - "I think I need a personal property floater." 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: - calculated amount...
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WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND VERIFIED SOLUTIONS

WISE FINANCIAL LITERACY LATEST TEST REAL QUESTIONS AND VERIFIED SOLUTIONS Which of the following is the federal law that requires the cost of credit to be disclosed to consumers in bold print on own agreement? - Truth ...

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