TRX December 2nd, 2009

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This test covers the information covered on day one of the TRX Pro-TW training.

Questions and Answers

1.

What utility is used to move, copy, and rename returns?
- A.
  
  Taxwise Explorer
- B.
  
  Client Profile
- C.
  
  Communications
- D.
  
  Client Organizer
Correct Answer
A. Taxwise Explorer
2.

In ADMIN, you have the ability to do all of the following except
- A.
  
  Transfer Files from one user to another
- B.
  
  Open client returns
- C.
  
  Create new users
- D.
  
  Set form defaults
Correct Answer
B. Open client returns
3.

Where are the Taxwise files stored on the computer in a typical standalone install?
- A.
  
  Taxwise08 Folder
- B.
  
  Tax Returns 2008 Folder
- C.
  
  UTS08 Folder
- D.
  
  CCH08 Folder
Correct Answer
C. UTS08 Folder
4.

You can only add a form to a return through the Add Form/Display Form List.
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
B. FALSE

Explanation
You can use the Form List, Link by right clicking and choosing the form, or clicking the link button beside the input box.

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5.

If a form in the Forms Tree has a red exclamation point beside it, what does that mean?
- A.
  
  It is ready to be sent immediately
- B.
  
  The due date for it to be filed has passed
- C.
  
  The calculations are wrong
- D.
  
  At least one required field is empty
Correct Answer
D. At least one required field is empty
6.

Back-up, Restore, and Carry Forward are all found under which menu?
- A.
  
  Tools
- B.
  
  Communications
- C.
  
  File
- D.
  
  Edit
Correct Answer
A. Tools
7.

What menu would you find the option of Search/Query for Taxpayer?
- A.
  
  Communications
- B.
  
  File
- C.
  
  Reports
- D.
  
  Help
Correct Answer
B. File
8.

In the Taxwise Utilities/Setup Options, where do you go to change your company information?
- A.
  
  Communication
- B.
  
  File
- C.
  
  Setup
- D.
  
  Tools
Correct Answer
C. Setup
9.

After installing the program, where are the two places you have to type in your EFIN?
- A.
  
  System Snapshot and View Authorization
- B.
  
  Reindex Database and Install Federal Updates
- C.
  
  Taxwise Help and About Taxwise
- D.
  
  Set up Options and Register Software
Correct Answer
D. Set up Options and Register Software
10.

You can only download conversions from support.taxwise.com
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
B. FALSE

Explanation
The conversions for our software are available at www.trxpro.com

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11.

If you need to create a new 1040 return, but every time you click New Return it asks for an EIN, where should you go to enable creating a new return with a SSN?
- A.
  
  Change Tax Package
- B.
  
  Change User
- C.
  
  Client Profile
- D.
  
  Report Center
Correct Answer
A. Change Tax Package
12.

It’s best to log in as ADMIN and fill out a client's entire return in Edit Tax Form Defaults before you start your returns from the GUEST account.
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
B. FALSE

Explanation
Only fill-out data you want to carry to every single return in the Edit Tax Form Defaults because it will appear on all subsequent returns.

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13.

When logged in as ADMIN, where do you go to create new users?
- A.
  
  Edit Tax Form Defaults
- B.
  
  File menu
- C.
  
  Taxwise Utilities/Setup Options
- D.
  
  Edit Menu
Correct Answer
C. Taxwise Utilities/Setup Options
14.

You can adjust the form size when editing a return.
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
A. TRUE
15.

When running a conversion to TW, you must run the conversion from ___ to ___.
- A.
  
  Prior software 08, Taxwise 09
- B.
  
  Prior software 09, Taxwise 09
- C.
  
  Taxwise 08, Taxwise 09
- D.
  
  Prior software 08, Taxwise 08
Correct Answer
D. Prior software 08, Taxwise 08
16.

After installing the conversion, what is the path to access it?
- A.
  
  Start > All programs > TaxWise 2009 > Conversion
- B.
  
  Taxwise > File > Conversion
- C.
  
  My Computer > Local Disk > Conversion
- D.
  
  Start > Control Panel > Conversion
Correct Answer
A. Start > All programs > TaxWise 2009 > Conversion
17.

After installing Taxwise and launching the program for the first time, what will be the first thing you must do?
- A.
  
  Restart your computer
- B.
  
  Input your company information
- C.
  
  Install the shortcuts
- D.
  
  Reindex your database
Correct Answer
B. Input your company information
18.

By default, what is the password set to when you login to Taxwise for the first time?
- A.
  
  Your user name
- B.
  
  Your EFIN
- C.
  
  Your Client ID
- D.
  
  There is no password
Correct Answer
D. There is no password
19.

You only need to download one conversion to convert both individual and business returns, if needed, from your previous software to your Taxwise software.
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
B. FALSE

Explanation
There are separate conversions for individual returns and business returns.

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20.

You can fill out your invoice settings when logged in as ADMIN under Edit Tax Form Defaults.
- A.
  
  TRUE
- B.
  
  FALSE
Correct Answer
A. TRUE

Explanation
You will add the Price Form and set your prices, which will carry to all subsequent returns.

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21.

What is the keyboard shortcut for Search/Query for Taxpayer?
- A.
  
  Shift + F5
- B.
  
  Shift + F8
- C.
  
  Ctrl + Q
- D.
  
  Ctrl + S
Correct Answer
C. Ctrl + Q
22.

What is the Keyboard Shortcut for printing the return you are currently viewing?
- A.
  
  Alt + F9
- B.
  
  Alt + F1
- C.
  
  Ctrl + Y
- D.
  
  Ctrl + P
Correct Answer
D. Ctrl + P
23.

What is the Keyboard Shortcut for displaying the Help window?
- A.
  
  F1
- B.
  
  F2
- C.
  
  F3
- D.
  
  F4
Correct Answer
A. F1
24.

What is the Keyboard Shortcut for saving a return?
- A.
  
  F1
- B.
  
  F2
- C.
  
  F3
- D.
  
  F4
Correct Answer
B. F2
25.

What is the Keyboard Shortcut for going to the nest required entry on a tax form?
- A.
  
  Ctrl + F10
- B.
  
  Ctrl + N
- C.
  
  Ctrl + L
- D.
  
  Ctrl + E
Correct Answer
D. Ctrl + E
26.

What is the Keyboard Shortcut for getting acknowledgements?
- A.
  
  Ctrl + G
- B.
  
  Ctrl + M
- C.
  
  Shift + F10
- D.
  
  Shift + F9
Correct Answer
A. Ctrl + G
27.

What is the Keyboard Shortcut for running diagnostics?
- A.
  
  Ctrl + M
- B.
  
  Ctrl + D
- C.
  
  Ctrl + F1
- D.
  
  Ctrl + O
Correct Answer
B. Ctrl + D
28.

The default path to get to the tax return files in a stand alone installation of Taxwise is
- A.
  
  C:\TW08\USERS\GUEST
- B.
  
  C:\TW08\USERS\CLIENTDATA
- C.
  
  C:\UTS08\USERS\GUEST
- D.
  
  C:\UTS08\TWW08\USERS\GUEST
Correct Answer
C. C:\UTS08\USERS\GUEST
29.

What is the Keyboard Shortcut for starting a new return?
- A.
  
  Ctrl + N
- B.
  
  Ctrl + R
- C.
  
  Ctrl + Z
- D.
  
  Ctrl + F9
Correct Answer
A. Ctrl + N
30.

Which Menu will you go to in order to start a return in which the Taxpayer needs to apply for an ITIN?
- A.
  
  File
- B.
  
  Form
- C.
  
  Bank
- D.
  
  Tools
Correct Answer
A. File

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Current Version
Mar 20, 2022

Quiz Edited by
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Nov 25, 2009

Quiz Created by
Eking

TRX December 2nd, 2009

What utility is used to move, copy, and rename returns?

In ADMIN, you have the ability to do all of the following except

Where are the Taxwise files stored on the computer in a typical standalone install?

You can only add a form to a return through the Add Form/Display Form List.

If a form in the Forms Tree has a red exclamation point beside it, what does that mean?

Back-up, Restore, and Carry Forward are all found under which menu?

What menu would you find the option of Search/Query for Taxpayer?

In the Taxwise Utilities/Setup Options, where do you go to change your company information?

After installing the program, where are the two places you have to type in your EFIN?

You can only download conversions from support.taxwise.com

If you need to create a new 1040 return, but every time you click New Return it asks for an EIN, where should you go to enable creating a new return with a SSN?

It’s best to log in as ADMIN and fill out a client's entire return in Edit Tax Form Defaults before you start your returns from the GUEST account.

When logged in as ADMIN, where do you go to create new users?

You can adjust the form size when editing a return.

When running a conversion to TW, you must run the conversion from ___ to ___.

After installing the conversion, what is the path to access it?

After installing Taxwise and launching the program for the first time, what will be the first thing you must do?

By default, what is the password set to when you login to Taxwise for the first time?

You only need to download one conversion to convert both individual and business returns, if needed, from your previous software to your Taxwise software.

You can fill out your invoice settings when logged in as ADMIN under Edit Tax Form Defaults.

What is the keyboard shortcut for Search/Query for Taxpayer?

What is the Keyboard Shortcut for printing the return you are currently viewing?

What is the Keyboard Shortcut for displaying the Help window?

What is the Keyboard Shortcut for saving a return?

What is the Keyboard Shortcut for going to the nest required entry on a tax form?

What is the Keyboard Shortcut for getting acknowledgements?

What is the Keyboard Shortcut for running diagnostics?

The default path to get to the tax return files in a stand alone installation of Taxwise is

What is the Keyboard Shortcut for starting a new return?

Which Menu will you go to in order to start a return in which the Taxpayer needs to apply for an ITIN?

When running a conversion to TW, you must run the conversion from _ to _.