Cfp tax exam Study guides, Class notes & Summaries

CFP Exam Review(upgraded questions and answers)2023 Topic 1: Financial Planning Process - CORRECT ANSWER-... 6 step process: EGADIM - CORRECT ANSWER-1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - CORRECT ANSWER-• Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data -...

CFP exam new update 2023 with complete solutions 6 step process: EGADIM - CORRECT ANSWER 1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - CORRECT ANSWER • Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data - CORRECT ANSWER • It is important that goals be defined b...

EXAM REVIEW FOR TOPIC 34 INCOME TAX FUNDAMENTALS AND CALCULATIONS Andrew Wyman works at a graphic arts business, and his wife has a bookkeeping business. Andrew's employer has a profit- sharing plan for employees and contributes 3% of compensation annually. The Wymans have provided the following information for income tax planning this year: Salary- $109,000 Corp. dividends- $3,000 Bookkeeping income- $12,000 IRA contribution- $11,000 Mortgage interest- $9,000 Capital losses- ...

CFP Exam Flash Cards with Correct and Updated Solutions 2022/2023 Savings Strategy: How much of your gross income should you save? - CORRECT ANSWER 5-8% Securities Act of 1933 - CORRECT ANSWER Purchasers of new issues must be provided with a detailed prospectus before transaction. Securities Act of 1934 - CORRECT ANSWER Regulates the secondary Market or trading of issued securities. This act created the SEC Investment Company Act of 1940 - CORRECT ANSWER SEC can regulate UITs, Mutu...

20232024 COMPLETE EXAM FOR CFP 4 - CHAPTER 2 (INCOME TAX FUNDAMENTALS AND CALCULATIONS: DEDUCTIONS AND CREDITS) Standard Deduction - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction Based on filing status and calendar year of filing Taxpayer 65 and older can take an additional deduction, another deduction available to those who are blind Itemized Deductions - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction...

HS 300 Exam Review Questions With Correct Answers For SEC registration purposes, which act sets the limit for assets under management? - answerThe Investment Advisors Act What is an appropriate investment for an emergency fund? - answerA money market mutual fund. What is the yield to maturity of a $1,000 face amount bond that currently sells for $875, pays $60 of interest at the end of each year, and matures in 10 years? - answer7.85% Keystrokes: 1000FV, 875+/-PV, 60PMT, 10N; I/yr Accor...

Exam (elaborations) Financial Planning and Insurance Study Guide (FINANCE390) Questions answered 1. A good financial planning report must include an analysis of all of the following EXCEPT: a. Where you are now b. Where you want to be c. Why you failed previously d. How to reach your goals 2. The five steps in the financial management process outlined by the authors include the following EXCEPT: a. Establish goals b. Collect data c. Measure performance d. Establish living wills...

Exam (elaborations) FINANCE 390 FINANCE 341 Midterm Study Guide A good financial planning report must include an analysis of all of the following EXCEPT: a. Where you are now b. Where you want to be c. Why you failed previously d. How to reach your goals 2. The five steps in the financial management process outlined by the authors include the following EXCEPT: a. Establish goals b. Collect data c. Measure performance d. Establish living wills 3. Match the terms in column A with the...

BUSI 352 FINAL EXAM 1 • Question 1 2 out of 2 points Which of the following does NOT play a part in a financial planner’s recommendations? • Question 2 2 out of 2 points Two of the more important factors affecting retirement planning are the savings amount and the growth of GDP. • Question 3 2 out of 2 points All of the following economic activities represent governmental fiscal policy EXCEPT: • Question 4 2 out of 2 points Which of the following state...