CFP Exam – Test with Upgraded Questions and Answers 2025/2026 – Full Exam Coverage

CFP EXAM TEST WITH UPGRADED
QUESTIONS AND ANSWERS
2025/2026
Lisa purchased 500 shares of XYZ stock trading at $40 per share, with an initial margin requirement of
60% and a maintenance margin of 30%. At What price would Lisa receive a margin call?



A. $20

B. $22.86

C. $57.14

D. $80.00 - CORRECT ANSWERS -B. $22.86



40*(1-.60)/ 1-.30= 22.86



Lareen purchased 1000 shares of CWC stock for $80 per share with an initial margin requirement of 65%
and a maintenance margin of 40%. Assume the stock price falls to $30 per share, how much equity must
Laureen contribute?



A. $2/share

B. $8/share

C. $10/share

D. $12/share - CORRECT ANSWERS -C. $10 per a share




Required Equity Actual Equity

, Price: 30 Price: 30

Main. Margin *.40 Debt: (28)

Required Equity 12 Actual: $2



Debt = $80* (1-.65) = $28



Required - Actual = contribution amount 12-2=10



MSFT declared a dividend payable to shareholders on the record date of Wed. May 15th. Which is the
last possible date an investor could purchase the stock and still receive the dividend?



A. purchased on May 13th

B. purchased on May 12th

C. purchased on May 11th

D. purchased on May 10th - CORRECT ANSWERS -D. May 10th.



Ex dividend date would be Monday the 13th, and in order to receive the dividend the investor would
have to purchase prior to the ex-dividend date. Since the 13th is a Monday the last possible date an
investor could purchase the stock and still receive the dividend would be Friday the 10th.



If June 4 is the date of record, when must Joe purchase the stock in order to receive the dividend?



A. June 1

B. June 2

C. June 3

D. June 4

E. May 31 - CORRECT ANSWERS -A. June 1st