Wise Test Questions & Answers 2024

Before a person begins investing, he should have A. taken more than one business course. B. a meeting with a licensed financial planner/advisor. C. a minimum of $5,000 to invest. D. strong self confidence in his ability to make money. {Ans: B}What is the key word for insurance companies when establishing the cost for a policy? A. Diversify. B. Deductible. C. Risk. D. Credit. {Ans: C}A person has assets worth $15,000 and loans totaling $5,000. Her net worth is A. $ 5,000. B. $10,000. C. $15,000. D. $20,000. {Ans: B}Financial planners generally stress the importance of starting to save and invest early because A. a person can stop saving at age 40. B. of the power of compounding and appreciation. C. there are fewer bills to pay when a person is young. D. a person will not need insurance. {Ans: B}Investments with greater potential returns generally have higher A.risk. B.fees. C.liquidity. D.deductibles. {Ans: A}An important feature of a good financial goal is that the goal A. has a specific time frame. B. is appropriate for the person's age. C. can last throughout the person's life. D. will take at least ten years for the person