CRPC PRACTICE EXAM WITH QUESTIONS AND CORRECT VERIFIED ANSWERS
WITH RATIONALE |ALREADY GRADED A+
Top 35 years earnings/420 - (ANSWER)AIME
1954 - 66 and 1960 - 67 - (ANSWER)FRA
62 to FRA lose 1/2 above 17,040; FRA lose 1/3 above 45,360; After FRA month -
unlimited/no earnings reduction - (ANSWER)earnings and SS
62, any age if child under 16 or disabled; married 1 year; spouse filed; up to 50% PIA -
(ANSWER)spousal benefits #$
%
Married 9 months; reduced benefits at 60; currently unmarried r remarried after 60; up to ^
100% spouse PIA including delayed credits - (ANSWER)surviving spouse benefits &*
()_
Married 10 years; currently unmarried; 62+; spousal and survivor benefits; if divorce ≥ 2 +
years ago ex-spouse need not have own benefit claimed but must be 62 - (ANSWER)divorce
benefits
Spousal benefits if child <16, lump sum DB, benefits is <18, not eligible for spousal
retirement - (ANSWER)Currently insured
Use of debt in financing - (ANSWER)Financial risk
Standard deviation - (ANSWER)Sharpe
Beta - (ANSWER)Treynor
Alpha - (ANSWER)Jensen
-,+,+ - (ANSWER)PV, FV, PMT
Set to end mode - (ANSWER)Prices of bonds
Volatility - (ANSWER)beta is a measure of
1,320 (4 quarters=5,280) - (ANSWER)1 quarter
At least 6 credits in last 13 quarter periods - (ANSWER)Currently insured quarters
, CRPC PRACTICE EXAM WITH QUESTIONS AND CORRECT VERIFIED ANSWERS
WITH RATIONALE |ALREADY GRADED A+
63-73 - (ANSWER)Traditional IRA Phaseout - single
Active 101-121 nonactive spouse 189-199 - (ANSWER)Traditional IRA Phaseout - married
Single 120-135 married 189-199 - (ANSWER)Roth IRA Phaseout
Hospital, skilled nursing care, home health care, hospice, blood; spell of illness ends once
out of hospital/skill nursing for 60 days - (ANSWER)Medicare Part A
#$
Physician, outpatient, preventive care - (ANSWER)Medicare Part B %
^
A+B deductibles, extended hospital part A, coinsurance part B, costs in excess B approved &*
charges, Nursing home, guaranteed-no increase for pe condition - (ANSWER)Medigap ()_
+
Combines ABD, additional benefits for lower cost of abdsupp, penalties and pe conditions
if not enrolled at 65 or when creditable coverage ends - (ANSWER)Medicare Advantage Part
C
Death, disability, SEPP, medical expense >10% AGI - (ANSWER)Early Withdrawal Penalty
Exceptions - all plans
1st time home up to $10k, health insurance prem. While unemployed, qualified education
expenses - (ANSWER)Early Withdrawal Penalty Exceptions - Traditional IRA
Separation service age 55, QDRO - (ANSWER)Early Withdrawal Penalty Exceptions - all
except IRA
401k, 403b, profit sharing, suspend contributions for 6 months; other resources not
reasonably available and immediate and heavy financial need - (ANSWER)Hardship
withdrawals
5 years quarterly, 50%, $50k - (ANSWER)loans
Meet 5 year holding - (ANSWER)Qualified distributions from roth must always
Balance on Dec. 31 prior year/LE - (ANSWER)RMD=
Age @ end of year in which one attains 70.5 - (ANSWER)LE=
WITH RATIONALE |ALREADY GRADED A+
Top 35 years earnings/420 - (ANSWER)AIME
1954 - 66 and 1960 - 67 - (ANSWER)FRA
62 to FRA lose 1/2 above 17,040; FRA lose 1/3 above 45,360; After FRA month -
unlimited/no earnings reduction - (ANSWER)earnings and SS
62, any age if child under 16 or disabled; married 1 year; spouse filed; up to 50% PIA -
(ANSWER)spousal benefits #$
%
Married 9 months; reduced benefits at 60; currently unmarried r remarried after 60; up to ^
100% spouse PIA including delayed credits - (ANSWER)surviving spouse benefits &*
()_
Married 10 years; currently unmarried; 62+; spousal and survivor benefits; if divorce ≥ 2 +
years ago ex-spouse need not have own benefit claimed but must be 62 - (ANSWER)divorce
benefits
Spousal benefits if child <16, lump sum DB, benefits is <18, not eligible for spousal
retirement - (ANSWER)Currently insured
Use of debt in financing - (ANSWER)Financial risk
Standard deviation - (ANSWER)Sharpe
Beta - (ANSWER)Treynor
Alpha - (ANSWER)Jensen
-,+,+ - (ANSWER)PV, FV, PMT
Set to end mode - (ANSWER)Prices of bonds
Volatility - (ANSWER)beta is a measure of
1,320 (4 quarters=5,280) - (ANSWER)1 quarter
At least 6 credits in last 13 quarter periods - (ANSWER)Currently insured quarters
, CRPC PRACTICE EXAM WITH QUESTIONS AND CORRECT VERIFIED ANSWERS
WITH RATIONALE |ALREADY GRADED A+
63-73 - (ANSWER)Traditional IRA Phaseout - single
Active 101-121 nonactive spouse 189-199 - (ANSWER)Traditional IRA Phaseout - married
Single 120-135 married 189-199 - (ANSWER)Roth IRA Phaseout
Hospital, skilled nursing care, home health care, hospice, blood; spell of illness ends once
out of hospital/skill nursing for 60 days - (ANSWER)Medicare Part A
#$
Physician, outpatient, preventive care - (ANSWER)Medicare Part B %
^
A+B deductibles, extended hospital part A, coinsurance part B, costs in excess B approved &*
charges, Nursing home, guaranteed-no increase for pe condition - (ANSWER)Medigap ()_
+
Combines ABD, additional benefits for lower cost of abdsupp, penalties and pe conditions
if not enrolled at 65 or when creditable coverage ends - (ANSWER)Medicare Advantage Part
C
Death, disability, SEPP, medical expense >10% AGI - (ANSWER)Early Withdrawal Penalty
Exceptions - all plans
1st time home up to $10k, health insurance prem. While unemployed, qualified education
expenses - (ANSWER)Early Withdrawal Penalty Exceptions - Traditional IRA
Separation service age 55, QDRO - (ANSWER)Early Withdrawal Penalty Exceptions - all
except IRA
401k, 403b, profit sharing, suspend contributions for 6 months; other resources not
reasonably available and immediate and heavy financial need - (ANSWER)Hardship
withdrawals
5 years quarterly, 50%, $50k - (ANSWER)loans
Meet 5 year holding - (ANSWER)Qualified distributions from roth must always
Balance on Dec. 31 prior year/LE - (ANSWER)RMD=
Age @ end of year in which one attains 70.5 - (ANSWER)LE=
