W!se Test Blueprint Part II: Banks and Banking

Front

Which of the following choices lists assets from MOST liquid to LEAST liquid?
Savings accounts, certificates of deposit (CD), real estate.
Money market accounts, bonds, checking accounts.
Stocks, savings accounts, money market accounts.
Bonds, real estate, certificate of deposit (CD).

Back

Savings accounts, certificates of deposit (CD), real estate.

Front

Which of the following reasons might lead someone to decide not to give a gift card to someone? Gift cards may not always be appreciated and may disappoint the recipient. Gift cards must be personalized and require more thought compared to other gifts. Gift cards can expire or include fees that reduce their value over time. Gift cards provide the recipient with unlimited options and flexibility in their purchases.

Back

Gift cards can expire or include fees that reduce their value over time.

Front

Which of the following is the safest option for receiving payment, instead of cash, if selling an item to an unknown person? Crypto currency, Personal check, Money order, Loan agreement.

Back

Money order.

Front

Back

return the check because of insufficient funds and charge a fee.

Front

Which of the following best describes the difference between a debit and credit card?

Back

Debit cards allow you to spend money that you already have in your bank account, while credit cards allow you to borrow money up to a certain amount.

Front

Which statement best describes a credit union?

Back

A non-profit organization that offers financial services to its members.

Front

What is the primary purpose of banks?

Back

To safeguard money and provide financial services.

Front

A restricted endorsement typically includes .

Back

A person’s signature and “For Deposit Only.”

Front

When a person reconciles a bank account, they

Back

Compare the bank statement with the account holder's records and make any necessary adjustments.

Front

Why might a person place a stop payment on a check?

Back

To cancel the check and prevent it from being cashed.