Exam (elaborations)
CRPC Module 1 2024/2025 Questions With Completed & Verified Solutions.
- Course
- Institution
CRPC Module 1 2024/2025 Questions With Completed & Verified Solutions.
[Show more]
Seller
Follow
Content preview
CRPC Module 16 Steps of Retirement Planning Process - ANS -Establish and define the client
counselor relationship
-Gather Client Data and Determine goals and expectations
-Determine the Client's Financial status by analyzing and evaluating
-Develop and Present the Plan
-Implement the Plan
-Monitor the Plan
Two Qualities of Retirement Goals - ANS -the retirement goals should be specific and
prioritized
-should include an event, amount and or time
Three Components of a statement of financial position - ANS - Assets
-Liabilities
-Net Worth
The Cash Flow Statement - ANS Cash inflows - Cash outflows = net cash
Income replacement percentages - ANS most american retirees need 70 to 80% of
pre-retirement income
only a rule of thumb
Expenses that decrease during retirement and increase - ANS Decrease -
transportation cost, food and housing costs, term life insurance stop, dry cleaning bills,
professional fees, clothing
Increase - medical and dentals expenses, expenditures on hobbies, recreation and
travel
3 Steps in determining the amount of post retirement income - ANS -identify current
assets that could generate income
-subtract nonamortized liabilities
-group these resources how they will be taxed upon distribution
Assets that should NOT be included in a list of retirement income producers - ANS
-emergency funds
-funds intended for college education
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LEWIS12. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79650 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now