CRPC Study Questions with Correct
Answers
hospital, skilled nursing care, home health care, hospice, blood; spell of illness ends
once out of hospital/skill nursing for 60 days - Answer-Medicare Part A
physician, outpatient, preventive care - Answer-Medicare Part B
A+B deductibles, extended hospital part A, coinsurance part B, costs in excess B
approved charges, Nursing home, guaranteed-no increase for pe condition - Answer-
Medigap
combines ABD, additional benefits for lower cost of ABDsupp, penalties and pe
conditions if not enrolled at 65 or when creditable coverage ends - Answer-Medicare
Advantage Part C
death, disability, SEPP, medical expense >10% AGI - Answer-Early Withdrawal Penalty
Exceptions - all plans
1st time home up to $10k, health insurance prem. while unemployed, qualified
education expenses - Answer-Early Withdrawal Penalty Exceptions - Traditional IRA
separation service age 55, QDRO - Answer-Early Withdrawal Penalty Exceptions - all
except IRA
401k, 403b, profit sharing, suspend contributions for 6 months; other resources not
reasonably available and immediate and heavy financial need - Answer-Hardship
withdrawals
5 years quarterly, 50%, $50k - Answer-loans
meet 5 year holding - Answer-Qualified distributions from roth must always
balance on Dec. 31 prior year/LE - Answer-RMD=
age @ end of year in which one attains 70.5 - Answer-LE=
recalculated Uniform Life - Answer-Owner
Joint Life Expectancy if spouse is >10 years younger - Answer-Owner+Spouse
, single life table (spouse recalulate; nonspouse - fixed period) - Answer-Beneficiary
IRA's and 403bs - NOT 401(k) - Answer-RMD plan aggregation allowed only w/
greater of beneficiary's un-recalculated LE; deceased remaining unrecalculated LE -
Answer-non-spouse, death after RMD; RMD is
0% @ 77,200; 15% @ 77,200-479,000; 20% @ 479,000 - Answer-Married L-T CG's
applicable credit - $4,425,800; applicable exclusion - $11,200,000 - Answer-Fed Estate
Tax
top 35 years earnings/420 - Answer-AIME
1954 - 66 and 1960 - 67 - Answer-FRA
62 to FRA lose 1/2 above 17,040; FRA lose 1/3 above 45,360; After FRA month -
unlimited/no earnings reduction - Answer-earnings and SS
62, any age if child under 16 or disabled; married 1 year; spouse filed; up to 50% PIA -
Answer-spousal benefits
married 9 months; reduced benefits at 60; currently unmarried r remarried after 60; up
to 100% spouse PIA including delayed credits - Answer-surviving spouse benefits
married 10 years; currently unmarried; 62+; spousal and survivor benefits; if divorce ≥ 2
years ago ex-spouse need not have own benefit claimed but must be 62 - Answer-
divorce benefits
spousal benefits if child <16, lump sum DB, benefits is <18, not eligible for spousal
retirement - Answer-Currently insured
use of debt in financing - Answer-Financial risk
standard deviation - Answer-Sharpe
Beta - Answer-Treynor
alpha - Answer-Jensen
-,+,+ - Answer-PV, FV, PMT
set to end mode - Answer-Prices of bonds
volatility - Answer-beta is a measure of
