Wise Practice Test Pt. 1

Wise Practice Test Pt. 1

9th - 12th Grade

10 Qs

quiz-placeholder

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Wise Practice Test Pt. 1

Wise Practice Test Pt. 1

Assessment

Quiz

Specialty

9th - 12th Grade

Medium

Used 48+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following provides an increase in assets or wealth?

Volunteering at a hospital

Taking out a loan

Having capital gains

Running in the marathon

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The denominations of coins in the United States are:

$.01, $.05, $.10, $.25, $.50, and $1.00

$.01, $.30, $.50, and $5.00

$.05, $.10, $.50, $.75, and $10.00

Coins can be in any denomination a consumer desires

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mutual funds are:

An investment portfolio managed by the investor

An investment that holds a wide range of different investment instruments, providing diversification

Usually less risky than investing in a money market

Guaranteed to increase in value

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is term life insurance usually the least expensive type of life insurance?

The policy only pays a death benefit

The policy builds a cash value

The policy provides coverage for a lifetime

The policy is available to all consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of using phone cards, debit cards, electronic transfers, and ATM cards?

Consumers can make purchases without of writing check

They expose consumers to greater likelihood of identity theft

They slow down the economy's recovery

They decrease availability of currency in the economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process of setting aside money and putting it to work by having it earn interest or dividends or gain value in the equities market with the idea of having additional funds to use in the future is described as:

Savings and investing

Making Money

Setting goals

Diversifying

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Joan wants to open a checking account and wonders if checking accounts pay interest. How would you answer her question?

All checking accounts pay interest

Some types of checking accounts

pay interest

Checking accounts never pay interest

Checking accounts pay interest if the account balance does not fall below $300.00

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