A contract entered into between a charity and donor where the charity agrees to pay the donor a
specific amount in exchange for an amount transferred to the charity is which of the following? -
charitable gift annuity
a financial planning professional must do all of the following with the client...
BUSI 352 Final Questions and Answers
A contract entered into between a charity and donor where the charity agrees to pay the donor a
specific amount in exchange for an amount transferred to the charity is which of the following? -
✔✔charitable gift annuity
a financial planning professional must do all of the following with the clients except - ✔✔prove to the
client why taking more risk is needed
A good financial planning report must include an analysis of all of the following EXCEPT - ✔✔Why you
failed previously
a planning technique used to leave property to children in place of money given to charity is called what
- ✔✔wealth replacement trust
According to the Code of Ethics and professional responsibility, a CFP practitioner who gives a brochure
to clients disclosing information about their firm should include all of the following except - ✔✔the
identity of the bank or other institution where the firm maintains a checking account
According to the U.S. Census Bureau, approximately what percent of american households consist of
married opposite sex partners? - ✔✔49%
All of the following are the disciplinary actions that the CFP board may take against a financial adviser
who is in violation of the Code of Ethics except - ✔✔lawsuit against the adviser in federal court
All of the following factors need to be considered in assessing the adequacy of funds needed to fund a
client's income needs during retirement except - ✔✔living trust funds
An important requirement that is common to the SEC rules for investment advisers and the CFP Board's
code of ethics is - ✔✔full disclosure of all material information to clients
, an investment company that invests in a managed portfolio of real estate or mortgages and construction
loans is which of the following - ✔✔REIT
Financial adviser John Smith manages investment accounts for clients mostly in his home state of Ohio.
He should register with the Ohio division of securities if: - ✔✔Assets under his management are less
than 25 million
For US citizens, which of the following is a potential tax consequence of expatriation - ✔✔the imposition
of an exit tax
hector wants his business to continue for generations. Which of the following has infinite life -
✔✔corporations
If John Smith is registered as an investment advisor with the SEC, which of the following designations is
permitted under the Act? - ✔✔John Smith, Registered Investment Adviser
if lucy has received the stock by gifts as described above, and lucy had sold the the stock 3 months later
for $73/share, what is the amount of the gain Lucy must report on her income tax return - ✔✔$6300
if lucy's grandmother has gifted the stock to lucy the day before she died, (stock price was $70/share),
what would be her basis? - ✔✔$10/share
in the scenario above, if the painted had been purchased in January, 2015, what is the maximum
charitable deduction that mariah may claim in 2015 - ✔✔$10,000
in the scenario above, what is the nature of the gain reported by Lucy? - ✔✔long-term capital gain
in the scenario described above, what is Lucy's basis in the inherited stock? - ✔✔$70/share
Lena's AGI for 2015 was $60,000. she donated to the red cross a $75,000 bank CD when it matured
during the year. The max amount that she can deduct on her 2015 federal income tax return -
✔✔$30,000
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