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?
FROM: THE RIGHT WAY TO PROJECT FUTURE COLLEGE EXPENSES (online only)
6. What is the typical college inflation rate assumed by financial planners?
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?
8. During the same time span, what was the real change for public colleges?
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 firstname.lastname@example.org or (212) 803-8500.