CRPC EXAM ACTUAL EXAM WITH MULTIPLE
g g g gg g
QUESTIONS WHICH ARE CORRECTLY
g g g g
ANSWERED CLEARLY |LATEST UPDATE 2024
g g g g g
GRADED A+| g g
Mary gGoodwin's gfinancial gsituation gis gas gfollows:
Cash/cash gequivalents g$15,000
Short-term gdebts g$8,000
Long-term gdebts g$133,000
Tax gexpense g$7,000
Auto gnote gpayments g$4,000
Invested gassets g$60,000
Use gassets g$188,000
What gis gher gnet gworth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000 g g g g g g gANS✔ g- gC
At gthe gend gof glast gyear, gBill gGreer ghas gthe gfollowing gfinancial ginformation:
,Salaries$70,000Auto gpayments$5,000Insurance gpayments$3,800Food$8,000Credit gcard
gbalance$10,000Dividends$1,100Utilities$3,500Mortgage
gpayments$14,000Taxes$13,000Clothing$9,000Interest gincome$2,100Checking
gaccount$4,000Vacations$8,400Donations$5,800
What gis gthe gcash gflow gsurplus gor g(deficit) gfor gBill?
A)
$2,700
B)
$6,500
C)
$10,700
D)
($500) g g g g g g gANS✔ g- gA
Which gof gthe gfollowing gare gcorrect gstatements gabout gincome greplacement gpercentages?
I.Income greplacement gpercentages gare gtypically gmuch ghigher gfor gthose gwith ghigher gpreretirement
gincomes.
II.Income greplacement gpercentages gvary gbetween glow-income gand ghigh-income gretirees.
III.Income greplacement gratios gshould gnot gbe gused gas gthe gonly gbasis gfor gplanning.
IV.Income greplacement gratios gare guseful gfor gyounger gclients gas ga gguide gto gtheir glong-range
gplanning gand ginvesting.
A)
I gand gIV
B)
I gand gII
C)
II gand gIII
,D)
II, gIII, gand gIV g g g g g g gANS✔ g- gD
If gTom gand gJenny gwant gto gsave ga gfixed gamount gannually gto gaccumulate g$2 gmillion gby gtheir
gretirement gdate gin g25 gyears g(rather gthan gan gamount gthat ggrows gwith ginflation geach gyear), gwhat
glevel gannual gend-of-year gsavings gamount gwill gthey gneed gto gdeposit geach gyear, gassuming gtheir
gsavings gearn g7% gannually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130 g g g g g g gANS✔ g- gB
Bill gand gLisa gHahn ghave gdetermined gthat gthey gwill gneed ga gmonthly gincome gof g$6,000 gduring
gretirement. gThey gexpect gto greceive gSocial gSecurity gretirement gbenefits gamounting gto g$3,500 gper
gmonth gat gthe gbeginning gof geach gmonth. gOver gthe g12 gremaining gyears gof gtheir gpreretirement
gperiod, gthey gexpect gto ggenerate gan gaverage gannual gafter-tax ginvestment greturn gof g8%; gduring
gtheir g25-year gretirement gperiod, gthey gwant gto gassume ga g6% gannual gafter-tax ginvestment greturn
gcompounded gmonthly. gThey gwant gto gstart gtheir gmonthly gretirement gwithdrawals gon gthe gfirst
gday gthey gretire.
What gis gthe glump gsum gneeded gat gthe gbeginning gof gretirement gto gfund gthis gincome gstream?
A)
$931,241
B)
$388,017
C)
, $389,957
D)
$598,504 g g g g g g gANS✔ g- gC
Chris gand gEve gBronson ghave ganalyzed gtheir gcurrent gliving gexpenses gand gestimated gtheir
gretirement gincome gneed, gnet gof gexpected gSocial gSecurity gbenefits, gto gbe g$90,000 gin gtoday's
gdollars. gThey gare gconfident gthat gthey gcan gearn ga g7% gafter-tax greturn gon gtheir ginvestments, gand
gthey gexpect ginflation gto gaverage g4% gover gthe glong gterm.
Determine gthe glump gsum gamount gthe gBronsons gwill gneed gat gthe gbeginning gof gretirement gto
gfund gtheir gretirement gincome gneeds, gusing gthe gworksheet gbelow.
(1) gAdjust gincome gdeficit gfor ginflation gover gthe gpreretirement gperiod:$ g90,000present gvalue gof
gretirement gincome gdeficit25number gof gperiods guntil gretirement4%% ginflation grateFuture gvalue gof
gincome gdeficit gin gfirst gretirement gyear$239,925(2) gDetermine gretirement gfund gneeded gto gmeet
gincome gdeficit:$239,925payment g(future gvalue gof gincome gdeficit gin gfirst gretirement
gyear)30number gof gperiods gin gretirement
The glump gsum gneeded gat gthe gbeginning gof gthe gBr g g g g g g gANS✔ g- gD
Assume ga gclient gand ginvestment gprofessional ghave gworked gtogether gfor gseveral gyears. gRecently,
gthe gclient's gpersonal gand gfinancial gcircumstances ghave gchanged. gAccording gto gthe gcourse
gmaterials, gwhat gis gthe gnext gasset gmanagement gstep gthat gthe ginvestment gprofessional gshould
gtake?
A)
make gand gimplement grecommendations
B)
gather gdata
C)
monitor gperformance
D)
g g g gg g
QUESTIONS WHICH ARE CORRECTLY
g g g g
ANSWERED CLEARLY |LATEST UPDATE 2024
g g g g g
GRADED A+| g g
Mary gGoodwin's gfinancial gsituation gis gas gfollows:
Cash/cash gequivalents g$15,000
Short-term gdebts g$8,000
Long-term gdebts g$133,000
Tax gexpense g$7,000
Auto gnote gpayments g$4,000
Invested gassets g$60,000
Use gassets g$188,000
What gis gher gnet gworth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000 g g g g g g gANS✔ g- gC
At gthe gend gof glast gyear, gBill gGreer ghas gthe gfollowing gfinancial ginformation:
,Salaries$70,000Auto gpayments$5,000Insurance gpayments$3,800Food$8,000Credit gcard
gbalance$10,000Dividends$1,100Utilities$3,500Mortgage
gpayments$14,000Taxes$13,000Clothing$9,000Interest gincome$2,100Checking
gaccount$4,000Vacations$8,400Donations$5,800
What gis gthe gcash gflow gsurplus gor g(deficit) gfor gBill?
A)
$2,700
B)
$6,500
C)
$10,700
D)
($500) g g g g g g gANS✔ g- gA
Which gof gthe gfollowing gare gcorrect gstatements gabout gincome greplacement gpercentages?
I.Income greplacement gpercentages gare gtypically gmuch ghigher gfor gthose gwith ghigher gpreretirement
gincomes.
II.Income greplacement gpercentages gvary gbetween glow-income gand ghigh-income gretirees.
III.Income greplacement gratios gshould gnot gbe gused gas gthe gonly gbasis gfor gplanning.
IV.Income greplacement gratios gare guseful gfor gyounger gclients gas ga gguide gto gtheir glong-range
gplanning gand ginvesting.
A)
I gand gIV
B)
I gand gII
C)
II gand gIII
,D)
II, gIII, gand gIV g g g g g g gANS✔ g- gD
If gTom gand gJenny gwant gto gsave ga gfixed gamount gannually gto gaccumulate g$2 gmillion gby gtheir
gretirement gdate gin g25 gyears g(rather gthan gan gamount gthat ggrows gwith ginflation geach gyear), gwhat
glevel gannual gend-of-year gsavings gamount gwill gthey gneed gto gdeposit geach gyear, gassuming gtheir
gsavings gearn g7% gannually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130 g g g g g g gANS✔ g- gB
Bill gand gLisa gHahn ghave gdetermined gthat gthey gwill gneed ga gmonthly gincome gof g$6,000 gduring
gretirement. gThey gexpect gto greceive gSocial gSecurity gretirement gbenefits gamounting gto g$3,500 gper
gmonth gat gthe gbeginning gof geach gmonth. gOver gthe g12 gremaining gyears gof gtheir gpreretirement
gperiod, gthey gexpect gto ggenerate gan gaverage gannual gafter-tax ginvestment greturn gof g8%; gduring
gtheir g25-year gretirement gperiod, gthey gwant gto gassume ga g6% gannual gafter-tax ginvestment greturn
gcompounded gmonthly. gThey gwant gto gstart gtheir gmonthly gretirement gwithdrawals gon gthe gfirst
gday gthey gretire.
What gis gthe glump gsum gneeded gat gthe gbeginning gof gretirement gto gfund gthis gincome gstream?
A)
$931,241
B)
$388,017
C)
, $389,957
D)
$598,504 g g g g g g gANS✔ g- gC
Chris gand gEve gBronson ghave ganalyzed gtheir gcurrent gliving gexpenses gand gestimated gtheir
gretirement gincome gneed, gnet gof gexpected gSocial gSecurity gbenefits, gto gbe g$90,000 gin gtoday's
gdollars. gThey gare gconfident gthat gthey gcan gearn ga g7% gafter-tax greturn gon gtheir ginvestments, gand
gthey gexpect ginflation gto gaverage g4% gover gthe glong gterm.
Determine gthe glump gsum gamount gthe gBronsons gwill gneed gat gthe gbeginning gof gretirement gto
gfund gtheir gretirement gincome gneeds, gusing gthe gworksheet gbelow.
(1) gAdjust gincome gdeficit gfor ginflation gover gthe gpreretirement gperiod:$ g90,000present gvalue gof
gretirement gincome gdeficit25number gof gperiods guntil gretirement4%% ginflation grateFuture gvalue gof
gincome gdeficit gin gfirst gretirement gyear$239,925(2) gDetermine gretirement gfund gneeded gto gmeet
gincome gdeficit:$239,925payment g(future gvalue gof gincome gdeficit gin gfirst gretirement
gyear)30number gof gperiods gin gretirement
The glump gsum gneeded gat gthe gbeginning gof gthe gBr g g g g g g gANS✔ g- gD
Assume ga gclient gand ginvestment gprofessional ghave gworked gtogether gfor gseveral gyears. gRecently,
gthe gclient's gpersonal gand gfinancial gcircumstances ghave gchanged. gAccording gto gthe gcourse
gmaterials, gwhat gis gthe gnext gasset gmanagement gstep gthat gthe ginvestment gprofessional gshould
gtake?
A)
make gand gimplement grecommendations
B)
gather gdata
C)
monitor gperformance
D)
