Ctfa practice exam 1 - Study guides, Class notes & Summaries

CTFA - Practice Exam #1 Questions And Answers!!

CTFA Practice Exam 1 With Complete Solutions 2024 Q. Which of the following types of trusts can use the Uniform Principal and Income Act power to adjust ? A. GRAT B. Trust under will C. Revocable trust D. Charitable lead trust - correct answer.Solution : The correct answer is B. Q. Which of the following is a power of attorney for property that is effective upon execution and does NOT terminate upon the principal's incapacity? A. General B. Springing C. Durable D...

CTFA - Practice Exam #1 Questions And Answers.

"Constructive Receipt" is normally applicable to the tax treatment of... Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... Annuities 1035 Exchange IRS allows tax-free transfer of cash values between 2 LIKE polic...

CTFA Practice Exam 3 Questions And Answers With Correct Solutions 2024 Q. When can a bank trustee sell or purchase assets from a trust where it serves in a fiduciary capacity? A. When the trustee desires to relieve itself from such liability with the approval of the board B. When the trust sells property to any non-officer of the bank, if the trust committee deems the price reasonable C. When the trust purchases stock or obligations of the bank, if the bank or its holding company...

CTFA Practice Exam With Latest Updated Solutions 2024 "Constructive Receipt" is normally applicable to the tax treatment of... - correct answer.Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation - correct answer.TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... - ...

CTFA - Practice Exam #1 Questions with complete Answers 2023 "Constructive Receipt" is normally applicable to the tax treatment of... Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... Annuities 1035 Exchange IR...

CTFA PRACTICE EXAM 1 QUESTIONS WITH COMPLETE SOLUTIONS.

Q. Which of the following types of trusts can use the Uniform Principal and Income Act power to adjust ? A. GRAT B. Trust under will C. Revocable trust D. Charitable lead trust - Solution : The correct answer is B. Q. Which of the following is a power of attorney for property that is effective upon execution and does NOT terminate upon the principal's incapacity?

Q. Which of the following types of trusts can use the Uniform Principal and Income Act power to adjust ? A. GRAT B. Trust under will C. Revocable trust D. Charitable lead trust - ANSWERSSolution : The correct answer is B. Q. Which of the following is a power of attorney for property that is effective upon execution and does NOT terminate upon the principal's incapacity? A. General B. Springing C. Durable D. Limited - ANSWERSSolution: The correct answer is C Q. A client borro...