CFP Board Announces 2023 Academic Research Colloquium Winners

CFP® Board Updates The CFP Board Center for Financial Planning held the 7th annual Academic Research Colloquium for financial planning and related disciplines.  It was held December 7-8, 2023 at the Renaissance Arlington Capital View Hotel in Arlington, VA.  The colloquium is an international meeting of researchers, practitioners, graduate students and leaders of the financial…

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Vested versus Contingent Beneficiary

Course: Estate PlanningLesson 3: Understanding Trusts and Trust Documents Student Question: In the example, I would think Northwestern would have a future, contingent interest, as their interest is dependent upon the death of the wife. But the feedback tells me it’s a vested interest.  Do we assume death is inevitable, and therefore not a contingent-worthy…

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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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Reducing the AMT

Which of the following tax planning ideas would help Beth the most if she currently has to pay AMT taxes? Pay her $1,000 January mortgage payment before the end of the year. Pay her $2,000 January alimony payment to her ex-husband before the end of the year. Recognize a $3,000 short term capital gain on…

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Accelerated Death Benefits

Which of the following individuals would typically qualify for accelerated death benefits under their term life insurance policy? Ida who is expected to die within 7 months from cancer. Jacob who is expected to die within 10 months from AIDS. Kay who is expected to die within 3 months from kidney failure All of the…

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Tightening the Money Supply

Which of the following is a monetary policy that will tighten the money supply? Sell government securities Lower the discount rate Decrease government spending Increase taxes CLICK TO REVEAL ANSWER Expand A is the answer. Selling government securities is a monetary policy that will tighten the money supply as the cash used to purchase the…

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Various Sources of Income

A client received an annual salary from his employment of $40,000. He was a 50% owner of both a C corporation and an S corporation. The C corporation had net profits of $20,000, and the S corporation had income of $10,000. Neither corporation made a distribution. The client’s revocable trust had income of $5,000 but…

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CFP Board Announces 2023 Academic Research Colloquium

CFP® Board Updates The CFP Board Center for Financial Planning announced the 7th annual Academic Reseach Colloquium for financial planning and related disciplines.  It will be held in person at the Renaissance Arlington Capital View Hotel in Arlington, VA.  The dates are December 7-8, 2023. The colloquium is an international meeting of researchers, practitioners, graduate…

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Tax Saving Strategies

Dan and Karen Burles have 2 children, Coy (age 12, student) and Roger (age 21, student). Dan and Karen own a security equipment sales and installation business, an LLC. Dan and Karen are in the highest income tax bracket. They have a portfolio with $130,000 of municipal bonds (annual income $5,200), $80,000 of corporate bonds…

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Who is an Investment Advisor?

Which of the following individuals need to register with the SEC under the Investment Advisers Act of 1940? Adam who retired last year from a big brokerage house but he recently started providing services to 12 clients who live in his neighborhood that he met while out golfing. Belinda who writes weekly investment articles for…

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