Cpf - Study guides, Class notes & Summaries

CPF FINAL EXAM QUESTIONS AND ANSWERS ALL CORRECT What can be taxed? - Answer- Earned Income (income tax)- wages, salaries, tips (federal and state) Other Income - winnings Investment Income - dividends, interest Capital Gains - profits from sale of an investment Purchases (sales tax) Types of taxes - Answer- Real Estate Property Taxes - land and buildings Estate Tax- tax on sale of possessions after death - can be up to 50%! Gift Tax - gifts over $15,000 Sin Tax - Cigarettes and Al...

CPF Chapter 3 Exam Questions and Answers All Correct The tax based on the total tax due divided by taxable income is called the - Answer- Average tax rate Which of the following is NOT a tax credit? - Answer- Domestic tax credit Recent tax credits include all of the following except the - Answer- AMT tax credit. At the end of the year, Xavier received a form from his employer that reported annual earnings and the amounts deducted for taxes. That form is called a - Answer- W-2 At th...

CPF TEST QUESTIONS WITH ALL CORRECT ANSWERS What percentage of people are living 5 years after a heart transplant - - Answer- 75% A legal document that specifies a person's wishes - Answer- living will A female that is named in a will to carry out the wishes of the deceased is called what - Answer- executrix What's a codicil - Answer- an amendment to a will A legal document in which an individual gives someone else control of property for ultimate distribution - Answer- trust...

CPF TEST QUESTIONS AND ANSWERS ALL CORRECT A company's written pledge to repay a specific amount of money: - Answer- corporate bond Municipal bond - Answer- is a government bond If the government or school district written pledge : - Answer- government bond allows you to receive cash dividends before common stock holder: - Answer- preferred stock Ability to buy and sell investment quickly: - Answer- investment liquidity Information that a publicly owned company sends to inves...

CPF Practice Exam Questions And 100% Correct Answers...

CPF Study Test Questions and Answers All Correct Barnaby is applying for insurance for his new home. Which of the following is correct? - Answer- His coverage should be increased as construction costs rise. Zach is applying for insurance for his new home. Which of the following is correct? - Answer- He should insure the building under the replacement value method to receive the full cost of repairing or replacing it. Yogi is applying for insurance for his new home. Which of the follo...

CPFA Practice Exam A) A TPA performs annual compliance testing. - - - Which statement regarding service providers is TRUE? A) A TPA performs annual compliance testing. B) A recordkeeper has the legal obligation to provide an interpretation of a plan provision. C) An accountant processes the "money out" for a participant account. D) A plan advisor is responsible for drafting annual safe harbor notices. A) Provides efficient contribution and distribution processes. - - - Which state...

CPFA Exam UPDATED Exam Questions And CORRECT Answers Which statement regarding service providers is TRUE? A) A TPA performs annual compliance testing. B) A recordkeeper has the legal obligation to provide an interpretation of a plan provision. C) An accountant processes the "money out" for a participant account. D) A plan advisor is responsible for drafting annual safe harbor notices. - CORRECT ANSWERA) A TPA performs annual compliance testing. Which statement regarding bundled servic...

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CPFC Exam Questions With 100% Correct Answers 2024