WISE Practice Test #8

WISE Practice Test #8

Assessment

Flashcard

Life Skills

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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10 questions

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1.

FLASHCARD QUESTION

Front

The advantage of having a Roth Individual Retirement Account (IRA) is that

Back

Money withdrawn from the account after age 59 ½ is tax free

2.

FLASHCARD QUESTION

Front

Money in an emergency fund should be used to pay for

Back

Necessary expenses when a person is not working

3.

FLASHCARD QUESTION

Front

What is a characteristic of a payday loan?

Back

The loan must be paid back in a short period of time

4.

FLASHCARD QUESTION

Front

If a person has a savings account at a nonprofit financial institution that is owned by its members, that person banks with

Back

A credit union

5.

FLASHCARD QUESTION

Front

What should a person consider before buying a cell phone insurance policy?

Back

The cost of insurance compared to the cost of replacing the phone.

6.

FLASHCARD QUESTION

Front

The credit card APR is the

Back

Annual rate of interest

7.

FLASHCARD QUESTION

Front

The cost of buying an insurance policy is known as the

Back

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