1b|bP a g e
CRPC CHARTERED RETIREMENT
PLANNING COUNSELOR EXAM BANK
2025 | 2 ACCURATE REAL EXAM
VERSIONS WITH 80 QUESTIONS AND
ANSWERS EACH WITH A STUDY GUIDE
| EXPERT VERIFIED FOR GUARANTEED
PASS | LATEST UPDATE
Mary Goodwin's financial situation is as follows:
b b b b b b
Cash/cash equivalents$15,000Short-term debts$8,000Long-
b b
term debts$133,000Tax expense$7,000Auto note payments$4,000Investe
b b b b
d assets$60,000Use assets$188,000
b b
What is her net worth? ......answer.....D)
b b b b bb
$122,000
,2b|bP a g e
Assets = $263,000; liabilities = $141,000, so net worth is $122,000. Taxes a
b b b b b b b b b b b b
nd auto note payments appear on the cash flow statement.
b b b b b b b b b
At the end of last year, Bill Greer has the following financial information:
b b b b b b b b b b b b
Salaries$70,000Auto payments$5,000Insurance payments$3,800Food$8, b b
000Credit card balance$10,000Dividends$1,100Utilities$3,500Mortgage p
b b b
ayments$14,000Taxes$13,000Clothing$9,000Interest income$2,100Chec b
king account$4,000Vacations$8,400Donations$5,800
b
What is the cash flow surplus or (deficit) for Bill? ......answer.....D)
b b b b b b b b b bb
$2,700
Income = $70,000 + $1,100 + $2,100 = $73,200. Expenses = $5,000 + $3,8
b b b b b b b b b b b b b
00 + $8,000 + $3,500 + $14,000 + $13,000 + $9,000 + $8,400 + $5,800 =
b b b b b b b b b b b b b b b b
$70,500, so there is a surplus of $2,700. The checking account and credit car
b b b b b b b b b b b b b
d balances would be on the statement of financial position.
b b b b b b b b b
Which of the following are correct statements about income replacement per
b b b b b b b b b b
centages?
,3b|bP a g e
Income replacement percentages are typically much higher for those with hi
b b b b b b b b b b
gher preretirement incomes.
b b
Income replacement percentages vary between low-income and high-
b b b b b b b
income retirees. b
Income replacement ratios should not be used as the only basis for planning.
b b b b b b b b b b b b
Income replacement ratios are useful for younger clients as a guide to their l
b b b b b b b b b b b b b
ong-range planning and investing.
b b b
A)
I and IV
b b
B)
II, III, and IV
b b b
C)
II and III
b b
D)
I and II ......answer.....B)
b b bb
II, III, and IV
b b b
, 4b|bP a g e
The inverse of Option I is true. Those with a lower preretirement income typi
b b b b b b b b b b b b b
cally need a much higher income replacement percentage in retirement.
b b b b b b b b b
If Tom and Jenny want to save a fixed amount annually to accumulate $2 mil
b b b b b b b b b b b b b b
lion by their retirement date in 25 years, what level annual end-of-
b b b b b b b b b b b
year savings amount will they need to deposit each year, assuming their savi
b b b b b b b b b b b b
ngs earn 7% annually?
b b b
A)
$31,621
B)
$54,130
C)
$55,692
D)
$29,552 ......answer.....A)
bb
$31,621
CRPC CHARTERED RETIREMENT
PLANNING COUNSELOR EXAM BANK
2025 | 2 ACCURATE REAL EXAM
VERSIONS WITH 80 QUESTIONS AND
ANSWERS EACH WITH A STUDY GUIDE
| EXPERT VERIFIED FOR GUARANTEED
PASS | LATEST UPDATE
Mary Goodwin's financial situation is as follows:
b b b b b b
Cash/cash equivalents$15,000Short-term debts$8,000Long-
b b
term debts$133,000Tax expense$7,000Auto note payments$4,000Investe
b b b b
d assets$60,000Use assets$188,000
b b
What is her net worth? ......answer.....D)
b b b b bb
$122,000
,2b|bP a g e
Assets = $263,000; liabilities = $141,000, so net worth is $122,000. Taxes a
b b b b b b b b b b b b
nd auto note payments appear on the cash flow statement.
b b b b b b b b b
At the end of last year, Bill Greer has the following financial information:
b b b b b b b b b b b b
Salaries$70,000Auto payments$5,000Insurance payments$3,800Food$8, b b
000Credit card balance$10,000Dividends$1,100Utilities$3,500Mortgage p
b b b
ayments$14,000Taxes$13,000Clothing$9,000Interest income$2,100Chec b
king account$4,000Vacations$8,400Donations$5,800
b
What is the cash flow surplus or (deficit) for Bill? ......answer.....D)
b b b b b b b b b bb
$2,700
Income = $70,000 + $1,100 + $2,100 = $73,200. Expenses = $5,000 + $3,8
b b b b b b b b b b b b b
00 + $8,000 + $3,500 + $14,000 + $13,000 + $9,000 + $8,400 + $5,800 =
b b b b b b b b b b b b b b b b
$70,500, so there is a surplus of $2,700. The checking account and credit car
b b b b b b b b b b b b b
d balances would be on the statement of financial position.
b b b b b b b b b
Which of the following are correct statements about income replacement per
b b b b b b b b b b
centages?
,3b|bP a g e
Income replacement percentages are typically much higher for those with hi
b b b b b b b b b b
gher preretirement incomes.
b b
Income replacement percentages vary between low-income and high-
b b b b b b b
income retirees. b
Income replacement ratios should not be used as the only basis for planning.
b b b b b b b b b b b b
Income replacement ratios are useful for younger clients as a guide to their l
b b b b b b b b b b b b b
ong-range planning and investing.
b b b
A)
I and IV
b b
B)
II, III, and IV
b b b
C)
II and III
b b
D)
I and II ......answer.....B)
b b bb
II, III, and IV
b b b
, 4b|bP a g e
The inverse of Option I is true. Those with a lower preretirement income typi
b b b b b b b b b b b b b
cally need a much higher income replacement percentage in retirement.
b b b b b b b b b
If Tom and Jenny want to save a fixed amount annually to accumulate $2 mil
b b b b b b b b b b b b b b
lion by their retirement date in 25 years, what level annual end-of-
b b b b b b b b b b b
year savings amount will they need to deposit each year, assuming their savi
b b b b b b b b b b b b
ngs earn 7% annually?
b b b
A)
$31,621
B)
$54,130
C)
$55,692
D)
$29,552 ......answer.....A)
bb
$31,621
