ABA CTFA Exam (page: 13)
ABA Certified Trust and Financial Advisor (CTFA)
Updated on: 25-Dec-2025

Viewing Page 13 of 91

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



are a popular offering at bank and other depository institutions and competes for deposits with money market and mutual funds?

  1. Money market deposit accounts
  2. Money market mutual funds
  3. Time deposit
  4. Asset management account

Answer(s): A



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JUAN 6/28/2023 2:12:00 AM

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