AWMA PRACTICE EXAM WITH GUARANTEED ACCURATE ANSWERS
3 views 0 purchase
Course
AWMA
Institution
AWMA
Baby boomers and older GenXers as compared to millennials and younger Gen Xers-
-Are likely to be advised by a millennial adviser
-Have financial planning needs that has stayed relatively the same over many years
-Have not experienced significant bear markets
-Are generally seeking many mor...
AWMA PRACTICE EXAM 2024\2025
AWMA PRACTICE EXAM 2024\2025 WITH GUARANTEED ACCURATE ANSWERS
Baby boomers and older GenXers as compared to millennials and
younger Gen Xers-
-Are likely to be advised by a millennial adviser
-Have financial planning needs that has stayed relatively the same over
many years
-Have not experienced significant bear markets
-Are generally seeking many more technological options in financial
planning - ACCURATE ANSWERS✔✔ Have financial planning needs
that has stayed relatively the same over many years
Dan has bonds maturing in two weeks. Since he bought the bonds
interest rates have fallen. To which one these risks are Dan's bonds most
likely to be subject?
The relationship between investment strategy and investment policy is
one in which
-investment strategy is subservient to investment policy.
-investment policy is determined by investment strategy.
-investment strategy dictates the asset categories to be incorporated into
the investment policy.
-investment policy is established once the investment strategies to be
used are agreed upon.
,investment strategy is subservient to investment policy. - ACCURATE
ANSWERS✔✔
If ABC Corporation has net profits of $100,000 and distributes $50,000
as dividends. what is its taxable income?
-$50,000
-$0
-$100,000
-$25,000 - ACCURATE ANSWERS✔✔ $100,000
,Joseph, age 60, is a taxpayer who has a considerable amount of income
that is not subject to withholding. He has not made any estimated
payments during the year. At a planning review session in mid-
December, his adviser informs him that he's approximately $25,000
underwithheld. What course of action might Joseph follow to avoid an
underpayment penalty?
-Make an estimated tax payment before the end of the year. This will
make up for any underwithholding.
-Initiate a $25,000 distribution from his IRA account, and direct that
100% of the distribution be withheld for federal income tax before year-
end. This will make up for any underwithholding.
-Make an estimated tax payment in December and another before the
January 15 deadline for the fourth quarter. This will make up for any
underwithholding.
-No exceptions to the underpayment penalty are available. -
ACCURATE ANSWERS✔✔ Initiate a $25,000 distribution from his
IRA account, and direct that 100% of the distribution be withheld for
federal income tax before year-end. This will make up for any
underwithholding
Which of these statements accurately describe characteristics of using
life insurance for the informal funding of a nonqualified deferred
compensation plan?
It represents an asset that may be purchased to fund the employer's
unsecured promise to pay deferred amounts to the employee.
It offers the advantage of being able to fund a death benefit immediately.
, It offers the advantage of various settlement options.
It offers the advantage of simplified administration since death proceeds
are paid directly to an employee's surviving spouse or other beneficiary.
-II and IV
-I and II
-I, II, and III
-I and III - ACCURATE ANSWERS✔✔ I, II, and III
Which statement best explains the unauthorized practice of law?
-A non-attorney who discusses with a licensed attorney whether
provisions in their client's will are necessary
-A non-attorney who advises a client to have their estate plan updated
-A non-attorney who advises a client of potential "red flags" in their
estate plan
-A non-attorney who advises a client to take actions that will affect their
property or legal rights - ACCURATE ANSWERS✔✔ A non-attorney
who advises a client to take actions that will affect their property or legal
rights
Changes that have occurred since investment firms changed from private
partnerships to publicly traded companies include all of these except
-partners no longer share in both the profits and losses of the firm.
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 GRADEUNITS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
