CRPC iEXAM iACTUAL iEXAM i330 iQUESTIONS AND iCORRECT iDETAILED iANSWERS i| i2024 iUP
DATE i| i100% iCORRECT iGRADED iA+ 1. The ipercentage ichange iin iprice iwith iai1.5% irise iin ithe imarket irate iof iinterest ifor iai
bond iwith iaiduration iof i5.0 iyears iis i-
i✔✔✔ iANSWER iduration ixichange iin imkt iint irate 1.5 ixi5= i-7.5 10 iessential ihealth ibenefits ithat imust ibe icovered iby iall ihealth iinsurance ipolicies iund
er iPPACA i-i✔✔✔ iANSWER i1. iout ipatient icare 2. emergency iservices 3. hospitalization 4. maternity iand inewborn icare 5. mental ihealth iand iaddiction itreatment 6. prescription idrugs 7. rehab iservices iand idevices 8. lab iservices 9. preventive iservices 10. pediatric iservice 10 ifactors ithat imust ibe iconsidered ibefore iannuity ipurchase ireco i-i✔✔✔ iANSWER 1) age 2) annual iincome 3) financial isituation, iexperience, iand iobjectives 4) intended iuse iof iannuity 5) financial ihorizon 6) existing iassets i(investments iand iinsurance) 7) liquidity ineed 8) current iliquid inet iworth 9) risk itolerance 10) tax istatus 10. iCarla iis icollecting i$600 iper imonth ifrom iaigovernment ipension iand iis ialso ireceiving i
aiSocial iSecurity ispousal ibenefit iof i$500 iper imonth. iDue ito ithe iGPO, iher iSocial iSecurity i
spousal ibenefit iwill ibe ireduced ito .i-
i✔✔✔ iANSWER iDue ito ithe iGPO, iher iSocial iSecurity ispousal ibenefit iwill ibe ireduced iby i2
/3, ior $400. i$500 i-i$400 i=i$100. 10. Carla iis icollecting i$600 iper imonth ifrom iaigovernment ipension iand iis ialso ireceiving
iaiSocial iSecurity ispousal ibenefit iof i$500 iper imonth. iDue ito ithe iGPO, iher iSocial iSecurity
ispousal ibenefit iwill ibe ireduced ito .i-
i✔✔✔ iANSWER iDue ito ithe iGPO, iher iSocial iSecurity ispousal ibenefit iwill ibe ireduced iby i2
/3, ior $400. i$500 i-i$400 i=i$100. 11. David ibegan ireceiving iSocial iSecurity ibenefits iin iJune i2015. iHe ilater ilearned itha
tihe ishould ihave idelayed ireceipt iof ihis ibenefits iuntil iailater iage. iHe ihas iuntil i to ipay iback iall ipayments iand irefile ifor iincrease ibenefits iat iaifuture idate. - ✔✔✔ iANSWER iClaimants ihave i12 imonths ifrom ithe idate ithey ifiled itheir ioriginal iclai
m ito ipay iback iall ipayments, iand ithey ican ithen irefile ifor iincreased ibenefits iat iailater idat
e. 11. David ibegan ireceiving iSocial iSecurity ibenefits iin iJune i2015. iHe ilater ilearned itha
tihe ishould ihave idelayed ireceipt iof ihis ibenefits iuntil iailater iage. iHe ihas iuntil i to ipay iback iall ipayments iand irefile ifor iincrease ibenefits iat iaifuture idate. - ✔✔✔ iANSWER ijune i2016 Claimants ihave i12 imonths ifrom ithe idate ithey ifiled itheir ioriginal iclaim ito ipay iback iall ipay
ments, iand ithey ican ithen irefile ifor iincreased ibenefits iat iailater idate. 12. Which ione iof ithe ifollowing igenerally irepresents ithe ibasis iof istock iacquired iby igift, i
ifithe ifair imarket ivalue ion ithe idate iof igift iis iless ithan ithe idonor's ibasis? i- ✔✔✔ iANSWER iThis iis igenerally iaicorrect idescription iof ithe ibasis iin ithe ihands iof ithe ido
nee. iThe ibasis iof istock iacquired iby igift iwill ibe ithe ifair imarket ivalue ion ithe idate iofithe igif
t,iunless ithe idonor's ibasis iis iless ithan ithis ifair imarket ivalue iand ivice iversa. ***Lesser iof idonor's ibasis ior iFMV iat idate iof igift 20. On iaverage, iSocial iSecurity irepresents of ithe iincome iof ithe ielderly. i- ✔✔✔ iANSWER i38% 21. Tom, i59, iis iaiwidower iand iis ireceiving iaiwidower's ibenefit ion ihis ideceased ispou
se's irecord. iTom iis iconsidering igetting iremarried. iAs iaiplanner, iyou ishould isuggest i
which ione iof ithe ifollowing? i-i✔✔✔ iANSWER iwait iuntil i60 ito iremarry Ifiyou iremarry ibefore ithe iage iof i60, iyour iwidower's ibenefit iwill ibe iterminated. iIfiyou iar
eiover ithe iage iof i60 iwhen iyou iremarry, iyour imarriage iwill inot iaffect iyour iSocial iSecurit
yiwidower's ibenefit. 24. iPeriodic idistributions ifrom iaiqualified iplan ithat itake iplace iover years i
may inot ibe irolled iover iinto ian iIRA. i-i✔✔✔ iANSWER i10 24. Periodic idistributions ifrom iaiqualified iplan ithat itake iplace iover years imay inot ibe irolled iover iinto ian iIRA. i-
i✔✔✔ iANSWER iPeriodic idistributions ifrom iaiqualified iplan ithat itake iplace iover inine iy
ears imay ibe irolled iover iinto ian iIRA. iHowever, iperiodic idistributions ifrom iaiqualified ipl
an ithat itake iplace iover iaiperiod iof i10 iyears ior imore icannot ibe irolled iover iinto ian iIRA. 25. Sam, iage i62, ibegins ireceiving ihis iSocial iSecurity iincome. iHis iPIA iisi$1,500 iper imon
th. iBecause ihe ihas ifiled iat iage i62, ihis ipayment iwill ibe ireduced iby i25% ito $1,125. iHis iwife iLinda, iage i67, iwould ilike ito ibegin ispousal ibenefits. iHer imonthly iinco
me iwould ibe i-
i✔✔✔ iANSWER iBecause iLinda ihas iattained iFRA, ishe iwould ibe ieligible ifor i50% iof iSam'
siPIA, ior i$750. 25. The idistribution istrategy ithat istrives ito imitigate isequence iof ireturns irisk iby iseg
menting iaiportfolio iaccording ito iwhen ithe ifunds iwill ibe ineeded iis ireferred ito ias i-
i✔✔✔ iANSWER ithe ibucket istrategy 26. How iare iSocial iSecurity ibenefits ifunded? i-
i✔✔✔ iANSWER iSocial iSecurity iand iFICA itaxes iare iwithheld iby ithe iemployer. iThe itotal i
is i15.3% iof ipayroll iin i2016; ithe iemployer ipays i7.65% iand ithe iemployee ipays i7.65%. iBe
nefits iare inot ipaid iby iincome itaxes, iand ithere iis ino itrust ifund. iMonies iare ideposited iin
to ithe igeneral iaccount, iand ibenefits iare ipaid iout iof ithe igeneral iaccount. 27. Itiis iJanuary i15, i2016. iJanet iis iaisuccessful iarchitect iand iher ispouse, iTom, ihas ialwa
ys iworked ias iaipart-
time ibarista. iJanet iand iTom, iboth iage i66, iwant ito imaximize itheir iSocial iSecurity ibenef
its iby iusing ithe ifile iand isuspend istrategy. iYou ishould iadvise ithem ithat i-
i✔✔✔ iANSWER iThe ispouse iwho iwants ito ifile iand isuspend, itypically ithe ihigher iwage ie
arner, imust ibe i66 ibefore iMay i2016 iand imust ifile iand ithen isuspend itheir ibenefits ibefo
re ithe iApril i30, i2016, ideadline. iEffective iMay i1, i2016, ithis ioption iwill ino ilonger ibe iavail
able, ialthough ithose iwho iwere ialready iemployi ng ithis istrategy iwill ibe igrandfathered i
in iand idon't ineed ito irefile. 27. iUnder ivalue iinvesting, iifian iinvestor idesired ito iincrease ihis ior iher iinvestment iby i$
1,000 iper imonth iand ithe iasset ivalue ihad ideclined iby i$250 ifrom ithe iprevious imonth, it
he iinvestor iwould iinvest the inext imonth, iassuming ithe iprice iof ithe
iinvestment idid inot ichange. i-i✔✔✔ iANSWER i1250 29. iAn iindividual ithat iwould ilike ito iutilize ithe iSocial iSecurity i"restricted iapplicatio
n" istrategy imust ihave iattained iage i62 iby iwhich ione iof ithe ifollowing idates? i-
i✔✔✔ iANSWER iDecember i31, i2015 3. iThe imaximum icontribution ito iailongevity iannuity iis i-
i✔✔✔ iANSWER i25% iof ian iindividual's iretirement iplan ior i$125,000, iwhichever iis iless. 4ikey ipolicy ifeatures ito iconsider iin iselecting ian iLTC ipolicy i-
i✔✔✔ iANSWER i1. ielimination i(or iwaiting) iperiod ibefore iwhich ibenefits iare ipaid 2. maximum ibenefit iperiod 3. the idaily ibenefit 4. inflation iprotection 43. iWhich itype iof ilife iinsurance ibelow iis ireferred ito ias i"pure" ilife iinsurance? i- ✔✔✔ iANSWER iTerm ilife
