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Post date: May 22, 2013 1:56:30 PM
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W!SE FINANCIAL LITERACY CERTIFICATION TEST
Topics That Need Attention
Credit,Insurance,Investing,Financial Planning,
Credit card cash advances
Truth in Lending Act
Consequence of paying the minimum payment due on a credit card bill or paying a bill late
How does the degree of risk influence the interest rate charged for credit
Debit to Credit Ratio. " which is better Higher or lower"
How insurance works—concept of sharing risk
How an insurance deductible works
Collision coverage/when do consumers normally terminate this coverage
Health—HMO insurance and co-pay
How to reduce the cost of auto insurance
dividends
primary vs. secondary markets
How do you calculate networth.
Bonds (purpose, how they work, interest feature, tax free feature
Municipal Bonds
Mutual Funds—what they are, how they work and who manages the fund
Determine Net Worth and definition and examples of assets, liabilities and net worth
401k plans
Traditional Individual Retirement Accounts (Traditional IRA) = "offer you an immediate tax deduction"
Roth Individual Retirement Account (Roth IRA) = tax-free growth
Define: FDIC, SEC & FED
What is the Fed's number 1 tool in regulating the Economy.
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