SOLUTION MANUAL FOR CRPC
EXAM PRACTICE EXAM 2026 2027
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS WITH
VERIFIED ANSWERS
ALREADY GRADED A+ t
1. A worker's primary insurance amount (PIA) is the amount they receive from
Social Security: if he or she began payments at full retirement age.
2. For a worker whose full retirement age is 66 or later, the annual delayed
retirement credit percentage for the years you delay receipt of benefits beyond
(FRA) is: 8
3. Delaying receipt of benefits (for example until age 70) will result in all of the
following except: permanently reduced benefit amount.
4. Ann has reached her full retirement age (FRA) of 66 in 2020. She can elect
receive $1,000 now, or delay receipt by two years. She expects to live until age
90. Ignoring outside factors, when should she begin her benefits?: two years from
now
5. Michael, a 62-year-old single man, is considering beginning his Social Se-
curity benefits to supplement his income of $14,000 per year. How much will he
lose in Social Security benefits due to the earned income restrictions?: 0 6. If
,
,CRPC EXAM PRACTIC -2026ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH FIED ANSWERS)
provisional income exceeds all the thresholds given, then a maximum of of
Social Security benefits are subject to taxation.: 85%
7. Brent and Carol are married and file jointly. They have an AGI of $50,000 and
they receive a combined Social Security benefit of $15,000. They have no
taxexempt income. What is the maximum percentage of their Social Security
benefit that will be subject to taxation?: 85
8. Spousal retirement benefits can be claimed as early as age .: 62
9. Jeff and Betsy both attained their FRA in time to employ the "restricted
application for spouses" strategy. Jeff's PIA at his FRA was $2,000 and Betsy's
was
$1,200. If they employ the "restricted application for spouses" strategy, Betsy
will begin receiving $ per month.: 1,200
10. Carla is collecting $600 per month from a government pension and is also
eligible to receive a Social Security spousal benefit of $1,000 per month. Due
to the
GPO, her Social Security spousal benefit will be reduced to .-
: 600
|ALREADY GRADED A+
11. David began receiving Social Security benefits in June 2020. He later learned
that he should have delayed receipt of his benefits until a later age. He has until
to pay back all payments and refile for increase benefits at a future date.: June
2021
12. Jerry was born in 1954. What age does Social Security consider to be his full
retirement age (FRA)?: 66
13. Mary is 69 years old. She is receiving $1,800 per month in Social Security.
Her husband Ralph, age 67, who has not worked enough quarters outside the
home to be covered in his own right, receives 50% of what Mary receives
,
, ,
CRPC EXAM PRACTICE EXAM 2026/2027ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH (VERIFIED ANSWERS)
|ALREADY GRADED A+
each month ($900). Assume that Mary dies tomorrow. What will Ralph's Social
Security benefit be? Assume he has reached his survivor FRA.: 1,800
14. Bob and Helen just won the lottery. The benefit this year will be $50,000, and
will increase over the next 19 years. Bob's monthly Social Security benefit is
$1,800; Helen's monthly Social Security benefit is $1,200. Bob is age 68, and
Helen is age 69. Which one of the following is a correct statement about Bob and
Helen's old-age Social Security benefits?: Up to 85% of their Social Security benefit
must be included in gross income.
15. Henry and his wife Etta will both reach their FRAs this month, and they both
pla to begin receiving Social Security benefits next month. Etta's primary in-
suranc amount (PIA) is $1,900; Henry's PIA is $975. What will their
maximum Socia Security benefit be?: They will both receive their respective
PIAs.
16. Which one of the following is a correct statement about old-age Social
Security benefits?: Old-age Social Security benefits are not reduced for persons
who have attained their Social Security FRA regardless of the amount of earned
income received.
17. Jill and Mark are celebrating their 20th wedding anniversary, receiving a 20
year watch from their employer, and reaching FRA all on the same day with a
trip to the beach. Which of the following statements correctly describe the
Social
Security benefit Jill is eligible to receive?: 100% of her own benefit
18. An individual's Social Security payment amount will be adjusted annually to
,
, ,
CRPC EXAM PRACTICE EXAM 2026/2027ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH (VERIFIED ANSWERS)
account for increases in inflation as measured by the .: -
CPI-W
19. Higher income earners will have an income replacement ratio that is: lower
than low income earners.
20. On average, Social Security represents of the income of the elder- ly.: 33
21. Tom, 59, is a widower and is receiving a widower's benefit on his deceased
spouse's record. Tom is considering getting remarried. As a planner, you
should suggest which one of the following?: He should wait until age 60 to
remarry.
|ALREADY GRADED A+
22. Which one of the following counts as "earnings" for the Social Security
earnings test?: Self-employment net earnings
23. Carl is going to reach FRA later in the current year. He has begun Social
Security benefits but is still working. His Social Security benefits will: be
reduced $1 for every $3 earned above the earnings cap.
24. Social Security payments are: taxable if your provisional income exceeds the
applicable threshold.
,
EXAM PRACTICE EXAM 2026 2027
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS WITH
VERIFIED ANSWERS
ALREADY GRADED A+ t
1. A worker's primary insurance amount (PIA) is the amount they receive from
Social Security: if he or she began payments at full retirement age.
2. For a worker whose full retirement age is 66 or later, the annual delayed
retirement credit percentage for the years you delay receipt of benefits beyond
(FRA) is: 8
3. Delaying receipt of benefits (for example until age 70) will result in all of the
following except: permanently reduced benefit amount.
4. Ann has reached her full retirement age (FRA) of 66 in 2020. She can elect
receive $1,000 now, or delay receipt by two years. She expects to live until age
90. Ignoring outside factors, when should she begin her benefits?: two years from
now
5. Michael, a 62-year-old single man, is considering beginning his Social Se-
curity benefits to supplement his income of $14,000 per year. How much will he
lose in Social Security benefits due to the earned income restrictions?: 0 6. If
,
,CRPC EXAM PRACTIC -2026ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH FIED ANSWERS)
provisional income exceeds all the thresholds given, then a maximum of of
Social Security benefits are subject to taxation.: 85%
7. Brent and Carol are married and file jointly. They have an AGI of $50,000 and
they receive a combined Social Security benefit of $15,000. They have no
taxexempt income. What is the maximum percentage of their Social Security
benefit that will be subject to taxation?: 85
8. Spousal retirement benefits can be claimed as early as age .: 62
9. Jeff and Betsy both attained their FRA in time to employ the "restricted
application for spouses" strategy. Jeff's PIA at his FRA was $2,000 and Betsy's
was
$1,200. If they employ the "restricted application for spouses" strategy, Betsy
will begin receiving $ per month.: 1,200
10. Carla is collecting $600 per month from a government pension and is also
eligible to receive a Social Security spousal benefit of $1,000 per month. Due
to the
GPO, her Social Security spousal benefit will be reduced to .-
: 600
|ALREADY GRADED A+
11. David began receiving Social Security benefits in June 2020. He later learned
that he should have delayed receipt of his benefits until a later age. He has until
to pay back all payments and refile for increase benefits at a future date.: June
2021
12. Jerry was born in 1954. What age does Social Security consider to be his full
retirement age (FRA)?: 66
13. Mary is 69 years old. She is receiving $1,800 per month in Social Security.
Her husband Ralph, age 67, who has not worked enough quarters outside the
home to be covered in his own right, receives 50% of what Mary receives
,
, ,
CRPC EXAM PRACTICE EXAM 2026/2027ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH (VERIFIED ANSWERS)
|ALREADY GRADED A+
each month ($900). Assume that Mary dies tomorrow. What will Ralph's Social
Security benefit be? Assume he has reached his survivor FRA.: 1,800
14. Bob and Helen just won the lottery. The benefit this year will be $50,000, and
will increase over the next 19 years. Bob's monthly Social Security benefit is
$1,800; Helen's monthly Social Security benefit is $1,200. Bob is age 68, and
Helen is age 69. Which one of the following is a correct statement about Bob and
Helen's old-age Social Security benefits?: Up to 85% of their Social Security benefit
must be included in gross income.
15. Henry and his wife Etta will both reach their FRAs this month, and they both
pla to begin receiving Social Security benefits next month. Etta's primary in-
suranc amount (PIA) is $1,900; Henry's PIA is $975. What will their
maximum Socia Security benefit be?: They will both receive their respective
PIAs.
16. Which one of the following is a correct statement about old-age Social
Security benefits?: Old-age Social Security benefits are not reduced for persons
who have attained their Social Security FRA regardless of the amount of earned
income received.
17. Jill and Mark are celebrating their 20th wedding anniversary, receiving a 20
year watch from their employer, and reaching FRA all on the same day with a
trip to the beach. Which of the following statements correctly describe the
Social
Security benefit Jill is eligible to receive?: 100% of her own benefit
18. An individual's Social Security payment amount will be adjusted annually to
,
, ,
CRPC EXAM PRACTICE EXAM 2026/2027ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS WITH (VERIFIED ANSWERS)
account for increases in inflation as measured by the .: -
CPI-W
19. Higher income earners will have an income replacement ratio that is: lower
than low income earners.
20. On average, Social Security represents of the income of the elder- ly.: 33
21. Tom, 59, is a widower and is receiving a widower's benefit on his deceased
spouse's record. Tom is considering getting remarried. As a planner, you
should suggest which one of the following?: He should wait until age 60 to
remarry.
|ALREADY GRADED A+
22. Which one of the following counts as "earnings" for the Social Security
earnings test?: Self-employment net earnings
23. Carl is going to reach FRA later in the current year. He has begun Social
Security benefits but is still working. His Social Security benefits will: be
reduced $1 for every $3 earned above the earnings cap.
24. Social Security payments are: taxable if your provisional income exceeds the
applicable threshold.
,
