CE QUIZ

FE­BRU­ARY 2018

Financial Planning - - CE QUIZ FEBRUARY 2018 -

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

FROM: DAN­GER­OUS GEN­ER­AL­IZA­TIONS

1. What will the ap­prox­i­mate es­tate tax ex­emp­tion be for a cou­ple in 2018?

1. $14.4 mil­lion

2. $22.4 mil­lion

3. $26.5 mil­lion

4. $21 mil­lion

2. What will the ap­prox­i­mate 2018 ex­emp­tion be for a sin­gle filer?

1. $11.2 mil­lion

2. $10.5 mil­lion

3. $7.2 mil­lion

4. $8.4 mil­lion

FROM: DO-IT-YOUR­SELF PEN­SION MAN­AG­ING

3. A client has $500,000 in a re­tire­ment ac­count. Which port­fo­lio and with­drawal strat­egy should see the largest bal­ance re­main­ing at the end of 40 years?

1. Fixed an­nual with­drawal of $20,000 with a port­fo­lio that has a 2% fixed re­turn.

2. Vari­able an­nual with­drawal of 4% of the year-end bal­ance of a 2% fixed-re­turn port­fo­lio.

3. Vari­able an­nual with­drawal of 4% of the year-end bal­ance of a vari­able-re­turn port­fo­lio (e.g., a broadly di­ver­si­fied, multi-as­set class port­fo­lio).

4. Fixed an­nual with­drawal of $20,000 for a vari­ablere­turn port­fo­lio.

4. In the same sce­nario, which strat­egy should see the low­est bal­ance re­main­ing?

1. Fixed an­nual with­drawal of $20,000 of a vari­ablere­turn port­fo­lio.

2. An­nual with­drawal by RMD of a port­fo­lio that has a 2% fixed re­turn.

3. An­nual with­drawal by RMD of a vari­ablere­turn port­fo­lio.

4. Fixed an­nual with­drawal of $20,000 for a port­fo­lio with a 2% fixed re­turn.

FROM: THE FAULTS OF A POP­U­LAR RE­TIRE­MENT SAV­ING TOOL (on­line only)

5. If a client con­trib­utes $300 a month to an ag­gres­sive, 8%-re­turn port­fo­lio, how far along to­ward a goal of $1 mil­lion in re­tire­ment funds will they be in 23 years?

1. 50%

2. 40%

3. 25%

4. 35%

FROM: THE RIGHT WAY TO PROJECT FU­TURE COL­LEGE EX­PENSES (on­line only)

6. What is the typ­i­cal col­lege in­fla­tion rate as­sumed by fi­nan­cial plan­ners?

1. 3%

2. 4%

3. 6%

4. 2%

7. The ac­tual five-year real change in pub­lished tu­ition, fees, and room and board from the 20112012 school year to 2016-2017 was how much, an­nu­ally, for pri­vate four-year col­leges?

1. 3.5%

2. 4%

3. 5.2%

4. 2.4%

8. Dur­ing the same time span, what was the real change for pub­lic col­leges?

1. 1.9%

2. 2.2%

3. 3.2%

4. 4.4%

FROM: THIS TIME-SAV­ING TRICK GETS AD­VI­SORS FIRED. DON’T DO IT (on­line only)

9. If an ad­vi­sor has a client sign a blank form, then fills out the form for the client in an ef­fort to be help­ful, which FINRA rule is the ad­vi­sor vi­o­lat­ing? 1. FINRA Rule 3000

2. FINRA Rule 2010

3. FINRA Rule 4500

4. There is no FINRA rule vi­o­la­tion

FROM: DO AD­VI­SORS NEED THEIR FIRM’S CON­SENT TO OPEN A 529? (on­line only)

10. Un­der FINRA Rule 3210, an ad­vi­sor needs writ­ten con­sent from their firm for which ac­tiv­ity? 1. Main­tain­ing a bro­ker­age ac­count at an­other mem­ber firm or fi­nan­cial in­sti­tu­tion ei­ther be­fore or after they were em­ployed by the firm.

2. Main­tain­ing a bro­ker­age ac­count at an­other mem­ber firm or fi­nan­cial in­sti­tu­tion only after they be­came em­ployed by the firm.

3. Open­ing a 529 for their child.

4. En­gag­ing in out­side busi­ness ac­tiv­i­ties.

Fi­nan­cial Plan­ning of­fers its Con­tin­u­ing Ed­u­ca­tion Quiz ex­clu­sively on­line at Fpcequiz.com. To earn one hour of con­tin­u­ing ed­u­ca­tion credit from the CFP Board of Stan­dards, please visit our web­site and an­swer the ques­tions above. Plan­ners must an­swer eight out of 10 ques­tions cor­rectly to pass. Credit will count un­der CFP Board sub­ject A: fi­nan­cial plan­ning process/gen­eral prin­ci­ples. The dead­line for par­tic­i­pa­tion is Feb. 28, 2019. In ad­di­tion, the In­vest­ments & Wealth In­sti­tute, for­merly the In­vest­ment Man­age­ment Con­sul­tants As­so­ci­a­tion, has ac­cepted this quiz for CIMA, CIMC and CPWA CE credit. Ad­vi­sors must an­swer eight out of 10 ques­tions cor­rectly to pass. The dead­line is Feb. 28, 2019. If you need as­sis­tance, please con­tact Source­me­dia cus­tomer ser­vice at help@source­me­dia.com or (212) 803-8500.

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