CE QUIZ JULY 2017

Financial Planning - - CE QUIZ -

VISIT FPCEQUIZ.COM TO TAKE FI­NAN­CIAL PLAN­NING’S CE QUIZ.

FROM: DE­DUCT­ING IN RE­VERSE

1. Tax­pay­ers can deduct the in­ter­est on what amount of home eq­uity in­debt­ed­ness?

1. The first $1 mil­lion

2. The first $300,000

3. The first $100,000

4. The first $50,000

2. What is the min­i­mum up­front in­sur­ance pre­mium on a re­verse mort­gage?

1. 0.5%

2. 2.5%

3. 1.5%

4. 0.75%

FROM: DE­STRUC­TIVE IM­PACT OF FUND FEES

3. For each ad­di­tional 50 ba­sis points of fees, the av­er­age end­ing bal­ance of a re­tire­ment port­fo­lio con­sist­ing of the S&P 500, Rus­sell 2000, MSCI EAFE, Dow Jones REIT In­dex, S&P GSCI, Bar­clays Ag­gre­gate Bond In­dex and 90-day U.S. Trea­sury bills de­clined by about what per­cent­age over 23 25-year rolling pe­ri­ods be­tween 1970 and 2016? 1. 10.5%

2. 11.5%

3. 9.5%

4. 12.5%

4. In the same sce­nario, av­er­age with­drawal lev­els de­cline by roughly what per­cent­age?

1. 6.2%

2. 8.5%

3. 5.7%

4. 7.2%

FROM: SMART BETA VS. AC­TIVE MAN­AGERS

5. From De­cem­ber 2013 to April 2017, what per­cent­age of ac­tive man­agers out­per­formed their re­spec­tive style bench­marks, ac­cord­ing to ETF trends?

1. 30%

2. 25%

3. 19%

4. 10%

FROM: VA­CA­TION PROP­ERTY ANGST

6. How much is the cap­i­tal gain ex­clu­sion on a pri­mary res­i­dence for a sin­gle tax filer?

1. $500,000

2. $250,000

3. $300,000

4. $150,000

7. What is the sur­tax on net in­vest­ment in­come? 1. 4%

2. 2.8%

3. 3.8%

4. 5%

FROM: USE BE­HAV­IORAL FI­NANCE TO PUT WOR­RIED CLIENTS AT EASE (on­line only)

8. What per­cent­age of clients are look­ing 10 or more years for­ward in their fi­nances, ac­cord­ing to a Morn­ingstar study?

1. 30%

2. 45%

3. 8%

4. 15%

FROM: THE RIGHT — AND WRONG — WAY TO CAL­CU­LATE AUM (on­line only)

9. Firms must reg­is­ter with the SEC within 90 days of reg­u­la­tory AUM ex­ceed­ing how much? 1. $100 mil­lion

2. $150 mil­lion

3. $110 mil­lion

4. $200 mil­lion

10. Firms must file Form ADV-W and re­vert back to state reg­is­tra­tion within 180 days if reg­u­la­tory AUM falls be­low what amount?

1. $100 mil­lion

2. $95 mil­lion

3. $80 mil­lion

4. $90 mil­lion

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