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Clarifying Tort Liability
Course: Retirement PlanningLesson 2: Qualified Plan Advantages and Disadvantages for Employees and Business Owners Student Question: I have a few questions regarding tort liability. Instructor Response: Good questions here. See below for my response to each.
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529 Savings Plans Contributions
Which of the following statements about 529 savings plans is TRUE? Contributions to a 529 plan are deductible on your federal income tax return. There are income limits for contributors to 529 plans. Qualified withdrawals from a 529 plan are tax-free at the federal level. Account owners lose control of the funds once the beneficiary turns…
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Record Growth: CFP® Certification Surpasses 100,000 Professionals in the U.S.
CFP® Board Updates In a major milestone for the profession, the CFP Board recently announced that the number of CFP® professionals in the United States has officially surpassed 100,000. This landmark figure reflects not only the growing public demand for trustworthy financial advice but also the increasing recognition of the CFP® designation as the gold…
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Social Security Retirement Benefits
Course: Insurance PlanningLesson 10: Social Security Student Question: This question (below) doesn’t quite make sense to me. Could you clarify why the correct answer is D? Robin Elizabeth qualifies for a retirement benefit of $250 and a spouse’s benefit of $400. At her full retirement age, she will receive which of the following? A) Both $250…
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Identifying the Correct Step of the FP Process
During an initial meeting with a new client, financial planner Denise explains her firm’s services and discloses how she will be compensated. She also clarifies her responsibilities and asks the client about their expectations. Which step of the CFP Board’s 7-Step Financial Planning Process is Denise performing? Identifying and selecting goals Developing the financial planning recommendations…
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CFP Board Proposes Revisions to Competency Standards: What CFP® Professionals Need to Know
CFP® Board Updates The CFP Board recently announced proposed revisions to its Competency Standards, a move that signals an evolution in how financial planning proficiency is defined, maintained, and demonstrated by CFP® professionals. While the standards have long supported the integrity of the designation, these updates aim to align certification more closely with real-world client…
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Skewness versus Kurtosis
Course: Investment PlanningLesson 13: Asset Allocation Student Question: Can you help me understand the difference between Kurtosis and Skewness? I can’t quite piece it together. Instructor Response: Entire books have been written on this topic but the following summary should get the points for you on the CFP® Board exam when these topics are tested. …
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Preferred vs Common Stock
Which of the following statements best describes preferred stock in comparison to common stock? Preferred stockholders have voting rights, while common stockholders do not. Preferred stock dividends are generally variable, while common stock dividends are fixed. Preferred stock typically has a higher claim on assets and earnings than common stock, but usually does not carry voting…
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CFP Board Releases Latest Board Report Newsletter
CFP® Board Updates The CFP Board has released its latest CFP Board Report Newsletter, a valuable resource for staying connected to the pulse of the financial planning profession. This issue delivers timely updates and important insights that every CFP® professional-and those on the path to certification-should know. Highlights include: 🗣️ A message from the CEO,…
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