Ficep exam review - Study guides, Class notes & Summaries

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 Exam Review Questions with 100% Correct Answers Maslow's Hierarchy of Needs - Answer-Understanding the needs members are attempting to meet with their financial actions Left Hemisphere - Answer-Conscious Mind, orderly and systematic processing Right Hemisphere - Answer-Unconscious Mind, background processes like breathing Communication Styles - Answer-Hard or Soft Approach Generations - Answer-Different generations and their characteristics Johari Window - Answer-Describ...

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 Final : CUNA Review Exam Questions and Answers Which taxing authorities are worthy of the member's attention? - Answer-The member must attend to all tax authorities at all levels of government to maintain their financial well-being. How do taxes impact your personal spending? - Answer-Taxes can make personal spending go up or down. Which is larger: the penalty for failing to pay federal income taxes on time, or the penalty for failing to file a tax return when taxes are owed? - A...

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 Module 5: Exam Review Questions and answers, rated A+ ________________ _____________ occurs when a criminal obtains personal information to use without permission. - -Identity theft Primary sources of data for identity thieves include ___________ ________________ cards, driver's license, tax returns and medical insurance cards. - -Social Security Opting out of __________________________ credit card offers will help stop identity theft. - -Prescreened Lack of a lock icon, misspe...

FiCEP 2024/25 Exam Review Questions and answers, rated A+ Undeserved - -Money avoidance is the idea that money is evil or _____. Worship - -The idea that money is the way to solve all a member's problems is money _____. Status - -Money _____ is the member's belief that wealth is tied to self-worth. Money is seen as a member's way to one-up others. Secrecy - -Money vigilance is a member's perceived need for _____ about their financial matters. Earn/Save/Spend - -The ideal spending cy...

FICEP Test Review Exam Questions and Answers if a member thinks of a new obligation as only a few more dollars a month, without considering the total cost of the purchase, this usually indicates that they are - Answer-focusing too little on the future members viewing their 401k contributions as their primary savings are probably - Answer-saving too little earn/spend/earn/spend - Answer-living paycheck to paycheck earn/save/spend - Answer-pay yourself first, primary focus is saving ...

FiCEP Final : CUNA Review Exam Questions And Questions 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 taxin...