Page 1 of 138
CDFA Certified Divorce Financial Analyst
Practice Exam Questions & Answers VERIFIED
SOLUTIONS LATEST UPDATE THIS YEAR
CDFA Certified Divorce Financial Analyst Practice Exam
Exam Coverage Summary
Based on the Institute for Divorce Financial Analysts (IDFA) examination blueprint, this exam
covers the following weighted domains :
Domain Percentage
Professional Responsibilities 7%
Divorce Law & Legal Terminology 10%
Property and Taxation 17%
Retirement Plans, Taxation & Social Security 14%
Spousal and Child Support 8%
Financial Analysis and Planning 15%
Insurance and Risk Management 5%
Employee Benefits 7%
Debt, Credit, and Bankruptcy 6.5%
Specialty Areas (e.g., Military Divorce) 6.5%
Exam Details:
• Number of Questions: 150 multiple-choice questions
,Page 2 of 138
• Passing Score: 72% or higher
• Credential Validity: CDFA® professionals must maintain good standing with their Broker
Dealer (if applicable) and FINRA/SEC
QUESTIONS 1-50
1. The role of the CDFA professional is to:
A) Invest the client's money and manage their portfolio
B) Prepare the client's tax returns and file them with the IRS
C) Assist the client and attorney to understand how financial decisions today will impact future
financial outcomes
D) Provide legal advice and represent the client in court
Answer: C) The core role of a CDFA professional is to help clients and their attorneys understand
the long-term financial implications of divorce settlement decisions, not to provide legal advice
or investment management .
2. From a client's perspective and without regard to cost, when should an individual hire a
CDFA professional?
,Page 3 of 138
A) After filing a petition for divorce
B) After meeting with an attorney
C) When considering getting a divorce
D) Prior to a final judgment for divorce
Answer: C) The best time to hire a CDFA is when considering divorce, as it may be easier to
gather financial information before the other spouse knows about the divorce. There may also
be Social Security and health insurance planning issues that necessitate timing considerations .
3. Which of the following is NOT an appropriate service that CDFA professionals can provide?
A) Determine the financial impact of a proposed settlement
B) Provide litigation support relating to financial issues
C) Prepare a report showing the financial impact of one spouse keeping the family home
D) Prepare business valuations and analysis
, Page 4 of 138
Answer: D) CDFA professionals should NOT prepare business valuations and analysis—this
requires a specialized business appraiser. CDFAs can, however, analyze valuations provided by
experts .
4. Potential conflicts of interest for a CDFA professional include:
A) Working with both spouses in mediation
B) Investing client money or preparing client taxes while also serving as CDFA
C) Referring clients to attorneys
D) Charging hourly fees
Answer: B) A CDFA cannot invest client money or prepare their taxes while also serving as CDFA.
If a client needs a trade executed or tax work done, the CDFA must refer to someone else .
5. Which of the following individuals is most likely to seek the services of a CDFA
professional?
CDFA Certified Divorce Financial Analyst
Practice Exam Questions & Answers VERIFIED
SOLUTIONS LATEST UPDATE THIS YEAR
CDFA Certified Divorce Financial Analyst Practice Exam
Exam Coverage Summary
Based on the Institute for Divorce Financial Analysts (IDFA) examination blueprint, this exam
covers the following weighted domains :
Domain Percentage
Professional Responsibilities 7%
Divorce Law & Legal Terminology 10%
Property and Taxation 17%
Retirement Plans, Taxation & Social Security 14%
Spousal and Child Support 8%
Financial Analysis and Planning 15%
Insurance and Risk Management 5%
Employee Benefits 7%
Debt, Credit, and Bankruptcy 6.5%
Specialty Areas (e.g., Military Divorce) 6.5%
Exam Details:
• Number of Questions: 150 multiple-choice questions
,Page 2 of 138
• Passing Score: 72% or higher
• Credential Validity: CDFA® professionals must maintain good standing with their Broker
Dealer (if applicable) and FINRA/SEC
QUESTIONS 1-50
1. The role of the CDFA professional is to:
A) Invest the client's money and manage their portfolio
B) Prepare the client's tax returns and file them with the IRS
C) Assist the client and attorney to understand how financial decisions today will impact future
financial outcomes
D) Provide legal advice and represent the client in court
Answer: C) The core role of a CDFA professional is to help clients and their attorneys understand
the long-term financial implications of divorce settlement decisions, not to provide legal advice
or investment management .
2. From a client's perspective and without regard to cost, when should an individual hire a
CDFA professional?
,Page 3 of 138
A) After filing a petition for divorce
B) After meeting with an attorney
C) When considering getting a divorce
D) Prior to a final judgment for divorce
Answer: C) The best time to hire a CDFA is when considering divorce, as it may be easier to
gather financial information before the other spouse knows about the divorce. There may also
be Social Security and health insurance planning issues that necessitate timing considerations .
3. Which of the following is NOT an appropriate service that CDFA professionals can provide?
A) Determine the financial impact of a proposed settlement
B) Provide litigation support relating to financial issues
C) Prepare a report showing the financial impact of one spouse keeping the family home
D) Prepare business valuations and analysis
, Page 4 of 138
Answer: D) CDFA professionals should NOT prepare business valuations and analysis—this
requires a specialized business appraiser. CDFAs can, however, analyze valuations provided by
experts .
4. Potential conflicts of interest for a CDFA professional include:
A) Working with both spouses in mediation
B) Investing client money or preparing client taxes while also serving as CDFA
C) Referring clients to attorneys
D) Charging hourly fees
Answer: B) A CDFA cannot invest client money or prepare their taxes while also serving as CDFA.
If a client needs a trade executed or tax work done, the CDFA must refer to someone else .
5. Which of the following individuals is most likely to seek the services of a CDFA
professional?
