Ficep program exam - Study guides, Class notes & Summaries

FiCep Part 1 Exam Questions And Answers What are the housing market conditions that can indicate a real estate "bubble"? - ANS Housing values are rising faster than consumer income What five sources influence most consumers' financial practices? - ANS Parents, Lenders, learned patterns, creditors, society/peers What is the best tactic for helping members who are in the "earn/spend/earn/spend" cycle? - ANS Each paycheck must be divided up for specific categories such as savi...

FiCEP- F1900 Financial Counseling Certification Program Exam Questions and Answers 2024.

FiCEP- F1900 Financial Counseling Certification Program Exam Latest Update with Correct Solutions Spending Cycle- 1 - Answer -Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - Answer -Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle...

FICEP Part 2 Exam Questions with Correct Answers 401k - Answer-Plan A plan which allows employees to make tax-deferred contributions to retirement savings accounts. Many employers match these contributions at a specified ratio to help retirement savings build faster. Beneficiary - Answer-The person or persons who are designated to receive the amount of the death benefit if the policyholder dies. Cafeteria Plan - Answer-Tax-qualified flexible benefit plans that are offered by participat...

FiCEP Final : CUNA Review Exam Questions Complete Solutions New Update (Verified A+ Pass) Select the statement that correctly describes a progressive tax. - Answers -A progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - Answers -A regressive tax charges the same tax rate regardless of the taxpayer's income. Why are government fees and surcharges sometimes described as a form of tax? - Answers -Because they generate i...

FiCEP Final : CUNA Review Exam Questions And Answers Select the statement that correctly describes a progressive tax. - ANS A progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - ANS A regressive tax charges the same tax rate regardless of the taxpayer's income. Why are government fees and surcharges sometimes described as a form of tax? - ANS Because they generate income for the government. Which taxing ...

FiCEP FINAL EXAM REVIEW 2023/2024 GRADED A+. 1. Select the statement that correctly describes a progressive tax.: A progressive tax requires people to pay more as they earn more. 2. Pick the statement that best describes a regressive tax.: A regressive tax charges the same tax rate regardless of the taxpayer's income. 3. Why are government fees and surcharges sometimes described as a form of tax?: Because they generate income for the government. 4. Which taxing authorities are worthy of t...

FICEP Part 2 Exam Questions And Answers 401k - ANS Plan A plan which allows employees to make tax-deferred contributions to retirement savings accounts. Many employers match these contributions at a specified ratio to help retirement savings build faster. Beneficiary - ANS The person or persons who are designated to receive the amount of the death benefit if the policyholder dies. Cafeteria Plan - ANS Tax-qualified flexible benefit plans that are offered by participating employe...

FICEP Part 2 Exam Questions with 100% Correct Answers Dividends - Answer-The amount that stockholders in a company receive. Represents a portion of a company's profits Flexible Spending Plan (FSA) - Answer-A program offered by employers which allows employees which allows employees to pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars. Have a Use-it-or-lose-it provision, which means that any funds that are unused at the end of the plan year are for...

FiCEP FINAL EXAM REVIEW 2023/2024 GRADED A+. 1. Select the statement that correctly describes a progressive tax.: A progressive tax requires people to pay more as they earn more. 2. Pick the statement that best describes a regressive tax.: A regressive tax charges the same tax rate regardless of the taxpayer's income. 3. Why are government fees and surcharges sometimes described as a form of tax?: Because they generate income for the government. 4. Which taxing authorities are worthy of t...