CRPC BUNDLED exams 2023/2024 with 100% correct answers

Describe the trend in early retirement for US workers approaching retirement age - correct answer Early retirement (full retirement) is on a decline Bridge Jobs = positions held between career and full retirement Retirees continue working part time - HCEs work longer Identify factors that wo...

Statment of Financial Position - correct answer Assets and Liabilities Net Worth Balances "balance sheet" Cash Flow Statment - correct answer Inflows and Outflows Payments Assets - correct answer cash and equivilants, stock, use assets, things clients own **even if not complet...

No other qualified plan or 403(b) - correct answer Simple IRA or Simple 401(k) Younger employees benefit from years of contributions and compounding - correct answer Profit sharing, SEP, or Tandem Plan Business has stable cash flow and owner willing to make annual financial commitment, but...

Gift splitting - correct answer Allows a married couple to double their allowable annual exclusions is only allowed for married couples Ownership limited to spouses only - correct answer Joint tenancy tenancy by the entirety community property Grantor retained interest Trust Grit - correc...

Richard wants to have an annual retirement income of $100,000 (payable at the beginning of each year) protected against 3% inflation. Assuming a 7% after-tax rate of return and a retirement period of 30 years, how much money does Richard need in order to meet his goal? Explain how you need to ...

Mary Goodwin's financial situation is as follows: Cash/cash equivalents $15,000 Short-term debts $8,000 Long-term debts $133,000 Tax expense $7,000 Auto note payments $4,000 Invested assets $60,000 Use assets $188,000 What is her net worth? A)$111,000 B)$137,000 C)$122,000 D)$263,000 - ...

Which of the following are correct statements about the capital utilization strategy? - correct answer I. It produces an annual retirement income over a finite number of years. II. Assuming the yield remains the same, the larger the retirement income that is paid, the shorter the number of years ...

Mary Goodwin's financial situation is as follows: Cash/cash equivalents$15,000S hort-term debts$8,000 Long-term debts$133,000 Tax expense$7,000 Auto note payments$4,000 Invested assets$60,000 Use assets$188,000 What is her net worth? - correct answer $122,000 Assets = $263,000; liabili...

Securities act of 1933 - correct answer Required that new companies provide full disclosure through the issuance of a perspective Securities exchange act of 1934 - correct answer Created the SEC and empowered the commission to regulate exchanges and broker dealers and to require information f...

What is a typical way to plan for the management of property if a client becomes incapacitated - correct answer Nominate a conservator for the property Create a durable power of attorney Create a trust True facts about living wills - correct answer They must be signed They must be witnesse...

Whole life policies are designed to provide what - correct answer Level premiums, a guaranteed death benefit no matter when the insured dies and guaranteed cash flow Facts about a Roth IRA - correct answer With drawls from a Roth IRA for a first time home purchase, up to $10,000, or not penal...

Retirement Planning Process Steps - correct answer EGADIM (EGAD I Made it) Establish Client Relationship Gather Data Analyze Data Develop Plan Implement Plan Monitor Plan Step 1 Retirement Planning Process - correct answer Establish Client Relationship Based upon trust and a mutually d...

6 Step Retirement Planning Process (EGAD I Made it) - correct answer 1. Establish and Define the Client-Counselor Relationship 2. Gather Client Data, Including Goals and Expectations 3. Analyzing Client Information to Determine Retirement Savings Need 4. Develop and Present Financial Planning R...

The Department of Labor requirements regarding advice given to retirement investors will most likely - correct answer INCREASE CLIENT EXPECTATIONS OF ADVISERS AND PUT DOWNWARD PRESSURE ON FEES If asking you to solve for an annuity due where payments occur at the beginning of the period - corre...