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FICEP CUNA FINAL REVIEW EXAM (ACTUAL
ERIFIED
ANSWERS.
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.
When is owning a home the best option?When you are committed to the area and have a down payment.
How many homeowners nationwide routinely decide not to take the tax deduction for mortgage interest and property tax because they have minimal expenses, want to file a basic return, own their home outright, or fail to qualify for the deduction? 1 / 4
About 1/2 of homeowners.
Which statement correctly describes a benefit of home ownership?Home ownership is a forced savings program that builds assets through mandatory monthly payments.
How can you reduce the cost of owning or renting a place to live?Get a roommate or tenant, either on your own or through a homeshare program.
Many of the elderly are reluctant to report abuse themselves because...They fear retaliation from the perpetrator; they don't want to get the abuser in trouble; they are embarrassed
Regardless of a person's age or net worth, they should have a will because it can..Name guardians for minor children; designate a personal representative to handle the affairs after death; set up a trust.
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A durable power of attorney for health care is recommended for any individual over the age of..18
As a guardian of the person, you would be responsible for..Housing and living conditions; seeing the individual gets proper medical care
What is the most valuable piece of information sought by identity thieves?The person's ssn.
What is shoulder surfing?It is looking over the shoulder of someone using an atm or computer to get their pin or password.
Why should people concerned about identity theft shred documents containing their personal information? 3 / 4
Shredding prevents identity thieves who dumpster dive from getting the information.
What do spyware, spoofing, spamming, pharming, and phishing all have in common?They are all methods of committing identity theft via electronic means.
Which of these types of email may indicate they may be attempts at identity theft or fraud?The email asks you to confirm or provide personal information.
Where is the identity theft most likely to occur?In your home.
When people report identity theft, what is the first step they should take?Close all existing accounts and open new ones.
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