Blog
Step 2 of the Financial Planning Process
During an initial client meeting, a CFP® professional gathers details about the client’s current financial situation, including income, assets, liabilities, and expenses. The client also shares that she hopes to retire early, purchase a vacation home, and fund her grandchildren’s college education. Which of the following actions best represents Step 2 of the financial planning…
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CFP Board’s 2025 Public Policy Priorities: What Planners Need to Know
CFP® Board Updates In September 2025, the CFP Board published its official list of six public policy priorities, outlining the organization’s advocacy agenda for the years ahead. These priorities serve as a guide for how the CFP Board plans to influence regulation, legislation, and public perception of the financial planning profession. For CFP® professionals and…
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CPI and Product Quality
Course: Fundamentals of Financial PlanningLesson 2: Economic Concepts and Consumer Protection Laws Student Question: In this thought, it says that CPI only reflects price and does not account for quality of product. However, if the quality diminishes, then the amount needed to meet the same demand increases which then increases the supply needed to meet…
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Transfer of Interest in Property Held in Joint Tenancy
Gary Chapelle owns a duplex with his brother in joint tenancy with right of survivorship. Gary would like to pass his interest in the property to his son, Bill, and Gary has provided in his will that his interest in the duplex will pass to Bill. Which of the following statements concerning the transfer of…
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SEC’s Updated Fiduciary Standards: How CFP® Professionals Can Stay Ahead
CFP® Board In The News In July 2025, the Securities and Exchange Commission (SEC) released updated guidance related to Regulation Best Interest (Reg BI) and fiduciary standards. These updates are part of an ongoing effort to clarify the expectations for financial professionals when providing investment advice and brokerage services to retail investors. While these rules…
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SEP IRA Contribution Limits
Course: Retirement PlanningLesson 5: Leveraging Nonqualified Plans for Small Business and Not-For-Profit Employees and Owners Student Question: Hello , I am having trouble understanding how Shared Coverage is implemented. Could you help me understand with an example? Also, could you explain the Waiver of Premium benefits in simple words. Shared Coverage: “For couples where…
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Defined Benefit Plan Reversion Tax
Lucky Star Corp has been extremely lucky with their defined benefit plan as it is currently overfunded. Management decided to terminate the plan while they are overfunded and share the excess with the employees. What amount of reversion tax will Lucky Star Corp have to pay upon termination? 0% 10% 20% 50% CLICK TO REVEAL…
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What CFP® Professionals Need to Know About the One Big Beautiful Bill: Opportunities and Risks
CFP® Board In The News The recently passed One Big Beautiful Bill (OBBBA) is making headlines, not just for its sweeping tax code changes, but for the long-term planning ripple effects it introduces. While the CFP Board has rightly spotlighted the bill’s implications for 529 plans, standard deductions, and SALT caps, this legislation extends far…
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Passing Property Via Will
Course: Investment PlanningLesson 14: Evaluation Portfolio Performance Student Question: I’m a little confused about the example (below) discussing an heirloom of only sentimental value. Why would this be titled at all for a will, especially since an earlier lecture said items of no value would pass through will as the situation does not involve a…
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