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Wise Practice 1

This activity is 1 of to familiarized students with the relevant terms and scenarios related to financial management in order to prepare for the WISE Certification test.

AB
US Treasury DepartmentMust be notified of deposits $10,000 or more.
Check Cashing StoresTypically charge high fees.
FDIC InsuredBank and/or Credit Union Deposits
Bank Safe Deposit BoxBest place to store valuable
Personal Check Hold duration3 to 7 days
Uncollateralized loanPersonal loan with no assets to cover loan amount
Collaterized loanPawnshop transaction
Bankruptcy duration10 years
Open End CreditStore Charge Cards
Monetary PolicyRegulates money supply
Capital GainsIncreases wealth
Disposable/Discretionary IncomeMone left over after bills are paid
GoalAchieved within a defined time period
Stock Broker/Financial ConsultantGives financial advice
Securities and Exchange Commission (SEC)Issues stocks and bonds
Usury LawsPrevent overcharging interest
Finance ChargeLenders charge to borrow money
Personal Property FloaterInsurance for expensive personal items
Death Benefit/Face ValueLife insurance coverage amount
Long-term fixed rate borrowersBenefit most from inflation


Educator, Business & Information Technology
Freedom Senior High School
Woodbridge, VA

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