Exam (elaborations)
FiCEP 75-100 Exam 2024/2025 Questions With Completed & Verified Solutions.
- Course
- Institution
FiCEP 75-100 Exam 2024/2025 Questions With Completed & Verified Solutions.
[Show more]
Content preview
FiCEP 75-100What are referral clues? - ANS Depression, anxiety, marital stress, secretive behavior, sudden
change, severe unexplainable financial difficulties
How do you make successful referrals? - ANS 1. Recognize need to maintain dignity 2.
Confidentiality 3. Be accurate 4. Set expectations especially with public programs 5. Follow up
What situations call for immediate assistance? - ANS 1. Food, shelter, or medical care 2.
Professional help (ex. psych needs) 3. Severe financial crisis
What are the three types of taxes? - ANS Progressive (ex. income tax) 2. Regressive - % of cost
(ex. Sales tax) 3. Flat or level - percentage of income, no limit, everyone pays same
What are tax filing status options? - ANS 1. Single 2. Married, filing jointly 3. Married, filing
separately 4. Head of household (single deduction, add with single or married) 5. Qualifying
widow(er) with dependent child(ren)--tax break lost spouse last two years raising children alone
standard deduction
When should you submit a new W-4? - ANS 1. # of dependents change 2. Get married 3.
Divorce 4. Becomes self employed 5. Large tax refund 6. Owe more than one thousand on last
return
What should be remembered when discussing insurance? - ANS 1. Risk pooling (share risk) 2.
Insurable interest (money interest in property) 3. Indemnification (agreement to reimburse)
What should be considered when evaluating risk? - ANS 1. What are risks/assets? 2. Loss
affordable? 3. Best method: assume (pay if broke cheaper than insurance), reduce loss
potential, transfer by getting insurance 4. Able to cope with risk?
What rules to follow when deciding on insurance: - ANS 1. Determine insurance needs 2. Insure
major risks first 3. Select insurance that meets needs 4. Compare prices 5. Verify premiums and
deductibles meet budget 6. Never risk more than afford loss 7. Know odds 8. Report problems
Who should get life insurance? - ANS 1. Wage earners with dependents 2. Non wage earners
with young children 3. People with debt
What needs should be addressed before investing? - ANS 1. Savings plan 2. Emergency fund
3. Insurance 4. Responsible credit 5. Short and long term goals
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller phylliswambui. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now