This quiz is part of LFE Institute's CWMC (Certified Workplace Money Coaching) course. It will test your proficiency in the Taxes Module (Module 28) of the program. The questions are all multiple choice, and are designed to be a review of this Module. Let LFE know when you've successfully completed this test and are ready to begin the next Module. Correct answers required for passing grade: 9/10
Reduce income
Increase deductions
Take advantage of tax credits
Increase expenses
Health savings account deduction
Tuition and fees deduction
Contribution to an IRA
Student loan interest
Credit for child and dependent care expenses
Retirement savings contributions
Education credits
Dividend interest
Person specifically trained to prepare tax returns
Certified Management Accountant
Financial expert specifically trained in tax law
Attorney at law
Amount of income taxes payable
Amount of disposable income available
Retirement earnings
Vacation fund
Frivolous Arguments
Nigerian or 419 scams
Spanish prisoner scams
Scholarship scams
Overclaiming deductions
Overclaiming exemptions
Underreporting income
Addition errors
Rollover
Cash out and reinvest
Trustee-to-trustee transfer
Transfer fund through a company bank
Enroll in employer’s 401(k) plan
Reduce the number of exemptions taken
Increase the number of exemptions taken
Deposit funds into an IRA account
Husband
Wife
Husband, wife, and CPA
Husband and wife
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