W!SE Prep 2025

When choosing a PIN for an ATM card to ensure maximum security, a person should:

• Use their birthdate

• Use a sequence like 1234

• Use a random combination of numbers

• Use the last four digits of their phone number

What is an uncollateralized loan?

• A loan backed by assets

• A loan not backed by any collateral

• A loan for purchasing a house

• A loan with a fixed interest rate

A transaction that exemplifies an electronic funds transfer (EFT) would be:

• Writing a check

• Withdrawing cash from an ATM

• Transferring money online between bank accounts

• Depositing a check at a bank branch

Which of the following represents the highest credit score?

• 300

• 500

• 700

• 850

Which of the following debts remains even after filing for bankruptcy?

• Credit card debt

• Student loans

• Medical bills

• Car loans

The cost of an insurance policy is known as:

• Premium

• Deductible

• Coverage

• Claim

Personal financial plans should be:

• Rigid and unchangeable

• Flexible and adaptable

• Only for short-term goals

• Created by a financial advisor only

Another word for the amount of a worker's paycheck left after taxes and deductions is:

• Gross pay

• Net pay

• Overtime pay

• Bonus

If a person desires to improve a poor credit rating, they should:

• Close all credit accounts

• Pay bills on time

• Max out credit cards

• Avoid using credit

The National Credit Union Administration (NCUA) supplies insurance for accounts at:

• Banks

• Credit unions

• Investment firms

• Insurance companies