1. W!SE Test Topic Checklist Topics that are often problematic for students

2. Money O Sources of Income

3. Money O Exemption

4. Money O Liquidity O Liquid Financial Products

5. Money O Gift Cards O How they work O Inactivity fee MAY begin after 12 months of not being used.

6. Money O Discretionary Income O Budget Surplus

7. Money O Money Orders (high rate of counterfeits)

8. Money O Why does U.S. currency have value?

9. Money O Opportunity Cost

10. Money O Who is hurt the most and the least with inflation?

11. Money O Role of the U.S. Treasury Department

12. Banks O Pay Yourself First!

13. Banks O CD: What is it? O What happens if you cash out a CD before maturity?

14. Banks O Institutions that give loans: O Banks O Credit Unions O Pawnshops O Finance companies O Payday lenders O Tax preparers

15. Banks O Which institutions charge the highest interest rates on loans? (pawnshops, payday lenders, tax preparers, finance companies)

16. Banks O What is a credit union? O What are the advantages of using a credit union?

17. Banks O What is overdraft protection (opt in regulation)? O How does overdraft protection work?

18. Banks O Compound Interest

19. Banks O Time Value of Money

20. Banks O Liquid Financial Products O Savings O Checking O Less Liquid Financial Products

21. Banks O Rule of 72

22. Banks O Reconciling a Checking Account O Why? O When?

23. Banks O Repayment of Student Loans (check changes)

24. Banks O Tax Anticipation Loans

25. Credit O Credit Card Cash Advances

26. Credit O Truth in Lending Act

27. Credit O Consequence of paying the minimum payment due on a credit card bill: O Consequence of paying a credit card bill late:

28. Credit O How does the degree of risk influence the interest rate charged for credit?

29. Credit O Debt to Credit Ratio

30. Credit O Credit Reports

31. Credit O Three Leading Credit Reporting Agencies:

32. Credit O Consequence of a lost or stolen credit card

33. Credit O The length of debt repayment and impact on the cost of using credit.

34. Credit O What to do if a person think they are a victim of identity theft?

35. Credit O Characteristics of predatory loans:

36. Credit O Collateral O Secured O Unsecured

37. Credit O Pawnshops

38. Insurance O How insurance works: O Sharing Risk

39. Insurance O Insurance Deductible O What happens to the premium when the deductible is: O Raised O Lowered

40. Insurance O Collision Coverage O When do consumers normally terminate this coverage?

41. Insurance O Term Life Insurance

42. Insurance O Whole Life Insurance

43. Insurance O Health Insurance O HMO insurance O Co-pay

44. Insurance O Renters Insurance

45. Insurance O Disability Insurance

46. Insurance O How to reduce the cost of auto insurance:

47. Investing O Securities/Equities O Capital gains or loss O Dividends O Historical performance of stocks O Advantages of owning securities O Primary vs. secondary markets

48. Investing O What is a bull market? O What is a bear market?

49. Investing O Bonds O Purpose O How they work O Interest feature O Tax free feature of municipal bonds

50. Investing O Mutual Funds O What are they? O How they work? O Who manages mutual funds?

51. Investing O Investment Portfolio

52. Investing O Diversification

53. Investing O Dividends

54. Investing O Treasury Bills

55. Financial Planning O Determine Net Worth O Definition O Assets O Liabilities O Net Worth

56. Financial Planning O Retirement Plans: When taxes are paid? O Pensions O 401k plans O Traditional IRA O Roth IRA

57. Financial Planning O Housing

58. Financial Planning O Inflation O Deflation O Depression O Who suffers the most? Least?

59. Financial Planning O Taxes O Graduated income taxes

60. Regulatory Agencies O SEC O Federal Reserve (the Fed) O FDIC O CFPB