Ficep certification - Study guides, Class notes & Summaries

FiCEP [CUNA Review] Final Exam 2024/2025 UPDATED Questions and Answers |100% Correct What type of tax system charges everyone the same dollar amount regardless of income? A. Progressive tax B. Flat tax C. Poll tax Select the statement that correctly describes a progressive tax. A progressive tax requires people to pay more as they earn more. What is the primary purpose of income tax? A. To encourage consumer spending B. To generate revenue for the government C. To control i...

FICEP- F1900 FINANCIAL COUNSELING CERTIFICATION PROGRAM WITH VERIFIED SOLUTIONS ALREADY GRADED A+ 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 Cy...

Spending Cycle- 1 Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up SOLUTION: P...

Spending Cycle- 1 - ANSWER-Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - ANSWER-Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - ANSWER-Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up ...

FICEP FINAL : CUNA REVIEW QUESTIONS AND ANSWERS Select the statement that correctly describes a progressive tax. - answer A progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - answer 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? - answer Because they generate income for the government. Which taxing autho...

Spending Cycle- 1 - ANSWER-Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - ANSWER-Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - ANSWER-Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up ...

FiCEP- F1900 Financial Counseling Certification Program Exam 100% Solved AND VERIFIED

Spending Cycle- 1 - ANSWER-Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - ANSWER-Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - ANSWER-Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always come...

FiCEP- F1900 Financial Counseling Certification Program Exam 100% Solved