Crpc exam 2023 Study guides, Class notes & Summaries

CRPC EXAM PRACTICE EXAM ACTUAL EXAM 400 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

CRPC Practice Exam 1-with 100% verified solutions-2023

6 Step Retirement Planning Process (EGAD I Made it) - correct answer 1. Establish and Define the Client-Counselor Relationship 2. Gather Client Data, Including Goals and Expectations 3. Analyzing Client Information to Determine Retirement Savings Need 4. Develop and Present Financial Planning Recommendations and/or Alternatives 5. Implement the Financial Plan Recommendations 6. Monitor the Financial Plan Recommendations 3 Current Trends in Retirement Planning - correct answer -Busin...

CRPC EXAM ACTUAL EXAM 180 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

Diversification - correct answer Acquiring assets with low or negative correlations to each other with the goal of lowering overall risk Correlation - correct answer - a relative measure of the degree to which the returns of two assets move together - range from +1.0 to -1.0 - in practice negative correlations are rare - the further a correlation is from +1.0, the more diversified Asset allocation - correct answer - the apportioning of available funds among a number of asset clas...

Payments received in the years BEFORE you obtain FRA will be reduced $______for every $________ earned above the earnings cap. - correct answer Old-age benefits of Social Security recipients may be reduced if the client earns income from wages and salary during retirement prior to Social Security's full retirement age. By how much are the benefits reduced? - correct answer Benefits paid to persons in the years prior to attaining full retirement age are reduced by $1 for every $2 earned ...

Cindy wants to have an annual retirement income of $50,000 protected against 3% inflation. Assuming an 8% after-tax rate of return and a retirement period of 25 years, how much money does Cindy need in order to provide the inflation-protected $50,000 at the beginning of each retirement year? - correct answer BEG Mode # of Periods (1 P/YR in this example) C ALL 50000, PMT 4.8544, I/YR [(1.08 ÷ 1.03) - 1] × 100 = 4.8544 I/YR 25, N PV Solution: $749,812.61 Frank will retire in 14 year...

The Department of Labor requirements regarding advice given to retirement investors will most likely - correct answer INCREASE CLIENT EXPECTATIONS OF ADVISERS AND PUT DOWNWARD PRESSURE ON FEES If asking you to solve for an annuity due where payments occur at the beginning of the period - correct answer you would set calculator for BEG. identifying specific funds in which to invest are discussed on? - correct answer Specific investments are not discussed until step four of the plannin...

CRPC EXAM ACTUAL EXAM 180 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

2-1 What are the two purposes of investment policy? Investment policy serves two purposes: - correct answer It provides a foundation of goals, time horizons, and constraints on which the client portfolio is constructed. For example, the policy may establish the goal of preserving the purchasing power of the portfolio while providing periodic distributions, and it may limit the acceptable securities to large-company stocks and U.S. Treasury securities. The goals, time horizons, and constrai...

The Department of Labor requirements regarding advice given to retirement investors will most likely - correct answer INCREASE CLIENT EXPECTATIONS OF ADVISERS AND PUT DOWNWARD PRESSURE ON FEES If asking you to solve for an annuity due where payments occur at the beginning of the period - correct answer you would set calculator for BEG. identifying specific funds in which to invest are discussed on? - correct answer Specific investments are not discussed until step four of the plannin...