Free ABA CTFA Exam Braindumps (page: 17)

It is a technique used to reduce taxes in which a taxpayer shifts a portion of income to relatives in lower tax brackets. What is it?

  1. Income shifting
  2. Deductions maximization
  3. Tax deference
  4. Tax evasion

Answer(s): A



A good way to keep your spending in line is to make all household transactions (even fun money or weekly cash allowances) using a tightly controlled:

  1. Checking account
  2. Balance sheet
  3. Budget
  4. Savings account

Answer(s): A



An account offered by credit unions that is similar to interest paying checking accounts offered by the other financial institutions is:

  1. Deposit insurance
  2. Share draft account
  3. Internet bank
  4. Checking and saving accounts

Answer(s): B



It is a type of insurance account that protects funds on deposit against failure of the institution; can be insured by FDIC and the NCUA.

  1. Deposit insurance
  2. Share draft account
  3. Internet bank
  4. Checking and saving accounts

Answer(s): A



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