CRPC EXAM Most Recent exam COMPLETE
(2025) EXAM Questions and Answers (Verified
Answers) (Latest Update 2025) UPDATE!!
Save
Terms in this set (85)
Mary Goodwin's financial C
situation is as follows:
Cash/cash equivalents
$15,000
Short-term debts $8,000
Long-term debts $133,000
Tax expense $7,000
Auto note payments
$4,000
Invested assets $60,000
Use assets $188,000
What is her net worth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000
,At the end of last year, Bill A
Greer has the following
financial information:
Salaries$70,000Auto
payments$5,000Insurance
payments$3,800Food$8,0
00Credit card
balance$10,000Dividends$
1,100Utilities$3,500Mortga
ge
payments$14,000Taxes$13,
000Clothing$9,000Interest
income$2,100Checking
account$4,000Vacations$
8,400Donations$5,800
What is the cash flow
surplus or (deficit) for Bill?
A)
$2,700
B)
$6,500
C)
$10,700
D)
($500)
,Which of the following are D
correct statements about
income replacement
percentages?
I.Income replacement
percentages are typically
much higher for those with
higher preretirement
incomes.
II.Income replacement
percentages vary between
low-income and high-
income retirees.
III.Income replacement
ratios should not be used
as the only basis for
planning.
IV.Income replacement
ratios are useful for
younger clients as a guide
to their long-range
planning and investing.
A)
I and IV
B)
I and II
C)
II and III
D)
II, III, and IV
, If Tom and Jenny want to B
save a fixed amount
annually to accumulate $2
million by their retirement
date in 25 years (rather
than an amount that grows
with inflation each year),
what level annual end-of-
year savings amount will
they need to deposit each
year, assuming their
savings earn 7% annually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130
(2025) EXAM Questions and Answers (Verified
Answers) (Latest Update 2025) UPDATE!!
Save
Terms in this set (85)
Mary Goodwin's financial C
situation is as follows:
Cash/cash equivalents
$15,000
Short-term debts $8,000
Long-term debts $133,000
Tax expense $7,000
Auto note payments
$4,000
Invested assets $60,000
Use assets $188,000
What is her net worth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000
,At the end of last year, Bill A
Greer has the following
financial information:
Salaries$70,000Auto
payments$5,000Insurance
payments$3,800Food$8,0
00Credit card
balance$10,000Dividends$
1,100Utilities$3,500Mortga
ge
payments$14,000Taxes$13,
000Clothing$9,000Interest
income$2,100Checking
account$4,000Vacations$
8,400Donations$5,800
What is the cash flow
surplus or (deficit) for Bill?
A)
$2,700
B)
$6,500
C)
$10,700
D)
($500)
,Which of the following are D
correct statements about
income replacement
percentages?
I.Income replacement
percentages are typically
much higher for those with
higher preretirement
incomes.
II.Income replacement
percentages vary between
low-income and high-
income retirees.
III.Income replacement
ratios should not be used
as the only basis for
planning.
IV.Income replacement
ratios are useful for
younger clients as a guide
to their long-range
planning and investing.
A)
I and IV
B)
I and II
C)
II and III
D)
II, III, and IV
, If Tom and Jenny want to B
save a fixed amount
annually to accumulate $2
million by their retirement
date in 25 years (rather
than an amount that grows
with inflation each year),
what level annual end-of-
year savings amount will
they need to deposit each
year, assuming their
savings earn 7% annually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130
