FICEP EXAM Questions and Correct Solutions Test Bank

Select the statement that correctly describes a progressive tax. - A progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - A regressive tax charges the same tax rate regardless of the taxpayer's income. Why are governme...

operating costs - A tax is defined as a contribution that supports the _____ of a government. progressive - A _____ tax requires a taxpayer to pay more tax as their income increases. (Federal and state income taxes are examples) regressive - A _____ tax charges the same percentage of ...

What are the housing market conditions that can indicate a real estate "bubble"? - Housing values are rising faster than consumer income What five sources influence most consumers' financial practices? - Parents, Lenders, learned patterns, creditors, society/peers What is the best tac...

Select the statement that correctly describes a progressive tax. - A progressive tax requires people to pay more as they earn more. What is the name of the organization that offers free tax assistance to taxpayers age 60 or older, those with disabilities or special needs, or who qualify for ea...

Right Side of the Brain - This side of the brain processes creativity, patterns, spatial awareness, context Financial Planning - Helps members make the most of their incomes to accomplish long term goals, including saving and investing for retirement Debt Counseling - Helps members le...

Money avoidance is the idea that money is evil or ______________ - undeserved The idea that money is the way to solve all a member's problems is money ______________ - worship Money ____________ is the member's belief that wealth is tied to self-worth. Money is seen as a member's way ...

Which spending cycle is the preferred one to be in? - Earn/Save/Spend concious mind - left hemisphere, center for processing sensory info unconscious mind - Right hemisphere, autonomic processing Hard approach - left/analytic side, assertive/orderly/straightforward Soft appro...