10/2/24, 11:04 AM CDFA EXAM LATEST 2024-2025 ACTUAL EXAM/COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIF…
CDFA EXAM LATEST 2024-2025 ACTUAL
EXAM/COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Practice questions for this set
Learn 1 /7 Study with Learn
b) Secure separate attorneys to represent each spouse.
Give this one a try later!
Which of the following would be appropriate advice to give clients about hiring
attorneys?
a) Use the same attorney for both spouses to save money.
b) Secure separate attorneys to represent each spouse.
c) Employ the services of a CDFA® to negotiate a settlement.
d) Hire a CDFA® to negotiate a settlement and draft the legal documents.
Is hearsay admissible in court?
a) Hearsay is admissible by an expert witness.
2 b) Hearsay is never admissible in court.
c) Hearsay is allowed if either attorney testifies.
d) Hearsay is allowed if either party testifies.
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How many years does the innocent spouse have to apply for relief under the
innocent spouse rule?
3 a) Two years after filing the return
b) Two years after receiving the first IRS notice
c) Two years after collection activities have begun
d) Three years after filing the return
Bill and Sue bought a "fixer-upper" rental property 15 years ago for $30,000. Before
their divorce was final, they sold the rental property for $390,000. The sale's costs
totaled $27,300. Do not factor in depreciation recapture. What is their taxable gain?
4
a) $0
b) $332,700
c) $360,000
d) $362,700
Don't know?
Terms in this set (288)
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,10/2/24, 11:04 AM CDFA EXAM LATEST 2024-2025 ACTUAL EXAM/COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIF…
Aaron and Michelle have a c) Michelle can claim $2,000.
daughter, Julie, age three.
She lives with Michelle
four days a week and
Aaron three days a week.
Both Aaron and Michelle
are employed outside the
home and each pays half
of the $4,000 per year that
it costs to have Julie in a
daycare center during the
work-week. Who can claim
the childcare credit—and
for what amount?
a) Each parent can claim
half of the childcare
expenses.
b) Michelle can claim
$4,000.
c) Michelle can claim
$2,000.
d) Neither parent can
claim the childcare credit.
According to statistics, b) 50%
approximately how many
divorce cases use the "pro
se" approach to
settlement?
a) 40%
b) 50%
c) 60%
d) 70%
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Accumulating all of one's a) Bunching deductions
expenses in one year to
maximize the itemized
deductions for that year is
called:
a) Bunching deductions
b) Bundling deductions
c) Maximizing deductions
d) Grouping deductions
Adam and Kim are b) $12,500
divorced. Adam was
awarded use of their
jointly-owned home for
three years. It has been
three years and Adam and
Kim have sold the home
for $920,000. The basis was
$360,000, the mortgage
was $420,000, and the
selling expenses were
$35,000. What is Kim's
taxable capital gain?
a) $0
b) $12,500
c) $30,000
d) $262,500
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