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Backdoor Roth IRA Taxation
In 2026, Maria, age 52, is single and has MAGI of $210,000, making her ineligible to contribute directly to a Roth IRA. She makes a $7,500 nondeductible contribution to a traditional IRA and immediately converts the entire balance to a Roth IRA. At the time of conversion, Maria also owns a rollover traditional IRA from a former…
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CFP Board’s 2026 Principal Knowledge Topic Updates — What’s Changed for Candidates
CFP® Board Updates The CFP Board has released its updated Principal Knowledge Topics for the 2026 exam cycle – and while the changes are subtle, they reflect evolving industry expectations, regulatory realities, and practitioner demands. Whether you’re preparing to sit for the CFP® exam or helping someone on that journey, understanding what’s been updated can…
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Replacement Cost Reimbursement
Course: Insurance PlanningLesson 6: Commercial Property and Liability Insurance Student Question: Hi, The way I understand the example below is that since the cost, current value and depreciation are not relevant, it seemed to me that the building is only insured for 77.77% of its replacement value ($14,000,000/$18,000,000). This would lead to the payout from…
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Dying Intestate
If a client dies intestate, which of the following statements is correct? All assets automatically pass by beneficiary designation The state determines how probate assets are distributed The executor can distribute assets according to verbal wishes Property held jointly with rights of survivorship becomes subject to probate CLICK TO REVEAL ANSWER Expand B is the…
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Navigating Uncertainty: Strategies for CFP® Professionals in a Volatile Rate Environment
Good to Know As interest rates fluctuate and economic signals remain mixed, CFP® professionals face a planning environment that is neither rising nor falling – but uncertain. In this climate, the ability to adapt and guide clients with clarity becomes more important than ever. The Current Landscape The Federal Reserve has paused rate hikes but…
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Skewness versus Kurtosis
Course: Investment PlanningLesson 13: Asset Allocation Student Question: Hello, Can you help me understand the difference between Kurtosis and Skewness? I can’t quite piece it together. Thanks! Instructor Response: Great question, You’re right that as total capital in a pooled investment grows, the overall dollar amount of earnings can Entire books have been written on this…
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HO-3 Coverage
Under an HO-3 homeowners’ policy, which of the following losses is NOT covered unless an endorsement is purchased? Fire damage to the dwelling Theft of personal property Damage caused by a burst pipe Flood damage from rising groundwater CLICK TO REVEAL ANSWER Expand D is the answer. An HO-3 policy covers the dwelling for open perils and…
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CFP Board Releases 2025 Public Awareness Campaign Report: Key Results and What They Mean
CFP® Board Updates The CFP Board’s 2025 Public Awareness Campaign report offers fresh insight into how public perception of the CFP® certification is evolving – and where there’s still work to be done. Released this month, the report summarizes campaign performance, media reach, and year-over-year changes in trust, awareness, and relevance of the CFP® mark…
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Solving for Annual Equivalent Rate
Course: Fundamentals of Financial PlanningLesson 5: Using the Calculator Student Question: Hello, I am confused as to how to get the correct answer for number 4. Jackie invests her bonus at the beginning of this calendar year. If she earns 7% compounded monthly, what is the annual equivalent rate? Round your answer to two decimal places.…
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