1|Page
CRPC Exam 2025 – Complete Study Guide, Exam
Format, and Practice Questions
Prepare for your CRPC Exam (Chartered Retirement Planning Counselor℠) with this
complete 2025 study guide. Learn everything about exam structure, core topics, and retirement
planning concepts. Includes practice questions, test-taking strategies, and official CRPC
certification insights to help you pass the exam and advance your financial planning career.
CRPC Exam 2025,
Chartered Retirement Planning Counselor exam,
CRPC study guide,
CRPC exam questions and answers,
Industry standards typically consider expenses lasting beyond ____ to be long-term liabilities.
A) five years.
B) one month.
C) six months.
D) one year. - ANSWER--D
Long-term liabilities are those that are payable over a period greater than one year. Mortgage
notes and auto loans are examples that fall into this category.
Which one of the following client goals is sufficiently specific for retirement planning purposes?
A) "I want to accumulate $500,000 by December 2040."
B) "We want to travel."
,2|Page
C) "I'd like to retire with enough money to do what I want."
D) "We'd like to send our children to college." - ANSWER---A
"I want to accumulate $500,000 by December 2040." is an adequately specific goal. The planner
will be able to analyze resources and determine if this goal is achievable. The other goals listed
are all vague and nonspecific.
this does not include any inflation adjustment. By incorporating a 3.5% inflation factor, what is
Barb's approximate funding requirement increase, stated at the time of retirement, if she wants
to maintain the same purchasing power of her $5,000 monthly payment?
A) $200,000
B) $400,000
C) $300,000
D) $100,000 - ANSWER---C
Instead of around $700,000, Barb will need slightly more than $1 million to maintain an
inflation-adjusted budget with equal purchasing power (using an inflation-adjusted rate of
3.3816 compounded monthly); so the increase is approximately $300,000.
Set calculator to BEG mode, 12 payments per year, and C/ALL
Keystrokes:
25, shift, N
3.3816 I/YR
5000, +/-, PMT
PV Solution: $1,014,389.93
Margaret needs an annual retirement income of $48,000 protected against 2% inflation. You are
to assume that she will earn 8%, and wants to have the income for 25 years. How much capital
will be required to provide Margaret this much income at the first of each year?
A) $620,521
B) $553,380
,3|Page
C) $512,389
D) $657,022 - ANSWER---D
This problem uses the same steps as the previous problem (Problem #14). You solve for an
annuity due using the inflation-adjusted rate of 5.8824%.
When gathering data during the retirement planning process, financial goals should be
quantified in dollar amounts and which of the following?
A) order of priority.
B) by ownership.
C) established time frames.
D) by type of goal. - ANSWER---B
When assisting the client in establishing realistic goals, the planner should help define financial
goals so that they are quantified in dollar amounts and have established time frames instead of
remaining general in nature. Goals may be organized based on type, ownership, and priority but
those are not ways of quantifying them and making them more specific.
You would like to examine the Smiths' net worth as of Dec. 31, 20X1. You will prepare
A) an income replacement percentage.
B) a retirement plan.
C) a statement of financial position.
D) a cash flow statement. - ANSWER---C
A statement of financial position shows a client's net worth, which is defined as assets minus
liabilities, as of a specific date. A cash flow statement shows a client's net cash flow (or deficit)
over a period of time (usually one year). Income replacement percentage is another name for
"replacement ratio" and is used as a rough guide in determining the amount of income needed
in retirement relative to pre-retirement income.
, 4|Page
Which of the following types of information are important to gather from a client prior to
developing retirement planning recommendations?
his or her desired age of retirement
the client's assumption for the long-term rate of inflation
investments the client prefers not to use
number of children client and spouse intend to have
A) I, III, and IV
B) I and II
C) I, II, III, and IV
D) II and III - ANSWER---C
The age of retirement is required for determining investment and life insurance needs.
Economic assumptions need to be gathered from the client. While the planner may help refine
the assumption, it is nonetheless the client's assumption that is needed. Planners also need to
gather information on investments the client absolutely does not want to include in an
investment mix. The number of children a couple may have provides an indication as to what
may be needed for education expenses, shows how children will affect family income, and
creates the need for other forms of planning such as trusts and guardianship issues.
You have just finished identifying and disclosing all of the apparent and potential conflicts of
interest in the relationship with your client. What is the next step that you would undertake as
you continue through the planning process?
A) analyze and evaluate the client's current financial status
B) gather information necessary to fulfill the engagement
C) implement the recommendations
D) develop recommendations - ANSWER---B
The identification and resolution of apparent and potential conflicts of interest in the
planner/client relationship occurs in the first step of the retirement planning process,
Establishing and Defining the Client/Planner Relationship. The next step is to gather information
necessary to fulfill the engagement, the second step in the retirement planning process.
CRPC Exam 2025 – Complete Study Guide, Exam
Format, and Practice Questions
Prepare for your CRPC Exam (Chartered Retirement Planning Counselor℠) with this
complete 2025 study guide. Learn everything about exam structure, core topics, and retirement
planning concepts. Includes practice questions, test-taking strategies, and official CRPC
certification insights to help you pass the exam and advance your financial planning career.
CRPC Exam 2025,
Chartered Retirement Planning Counselor exam,
CRPC study guide,
CRPC exam questions and answers,
Industry standards typically consider expenses lasting beyond ____ to be long-term liabilities.
A) five years.
B) one month.
C) six months.
D) one year. - ANSWER--D
Long-term liabilities are those that are payable over a period greater than one year. Mortgage
notes and auto loans are examples that fall into this category.
Which one of the following client goals is sufficiently specific for retirement planning purposes?
A) "I want to accumulate $500,000 by December 2040."
B) "We want to travel."
,2|Page
C) "I'd like to retire with enough money to do what I want."
D) "We'd like to send our children to college." - ANSWER---A
"I want to accumulate $500,000 by December 2040." is an adequately specific goal. The planner
will be able to analyze resources and determine if this goal is achievable. The other goals listed
are all vague and nonspecific.
this does not include any inflation adjustment. By incorporating a 3.5% inflation factor, what is
Barb's approximate funding requirement increase, stated at the time of retirement, if she wants
to maintain the same purchasing power of her $5,000 monthly payment?
A) $200,000
B) $400,000
C) $300,000
D) $100,000 - ANSWER---C
Instead of around $700,000, Barb will need slightly more than $1 million to maintain an
inflation-adjusted budget with equal purchasing power (using an inflation-adjusted rate of
3.3816 compounded monthly); so the increase is approximately $300,000.
Set calculator to BEG mode, 12 payments per year, and C/ALL
Keystrokes:
25, shift, N
3.3816 I/YR
5000, +/-, PMT
PV Solution: $1,014,389.93
Margaret needs an annual retirement income of $48,000 protected against 2% inflation. You are
to assume that she will earn 8%, and wants to have the income for 25 years. How much capital
will be required to provide Margaret this much income at the first of each year?
A) $620,521
B) $553,380
,3|Page
C) $512,389
D) $657,022 - ANSWER---D
This problem uses the same steps as the previous problem (Problem #14). You solve for an
annuity due using the inflation-adjusted rate of 5.8824%.
When gathering data during the retirement planning process, financial goals should be
quantified in dollar amounts and which of the following?
A) order of priority.
B) by ownership.
C) established time frames.
D) by type of goal. - ANSWER---B
When assisting the client in establishing realistic goals, the planner should help define financial
goals so that they are quantified in dollar amounts and have established time frames instead of
remaining general in nature. Goals may be organized based on type, ownership, and priority but
those are not ways of quantifying them and making them more specific.
You would like to examine the Smiths' net worth as of Dec. 31, 20X1. You will prepare
A) an income replacement percentage.
B) a retirement plan.
C) a statement of financial position.
D) a cash flow statement. - ANSWER---C
A statement of financial position shows a client's net worth, which is defined as assets minus
liabilities, as of a specific date. A cash flow statement shows a client's net cash flow (or deficit)
over a period of time (usually one year). Income replacement percentage is another name for
"replacement ratio" and is used as a rough guide in determining the amount of income needed
in retirement relative to pre-retirement income.
, 4|Page
Which of the following types of information are important to gather from a client prior to
developing retirement planning recommendations?
his or her desired age of retirement
the client's assumption for the long-term rate of inflation
investments the client prefers not to use
number of children client and spouse intend to have
A) I, III, and IV
B) I and II
C) I, II, III, and IV
D) II and III - ANSWER---C
The age of retirement is required for determining investment and life insurance needs.
Economic assumptions need to be gathered from the client. While the planner may help refine
the assumption, it is nonetheless the client's assumption that is needed. Planners also need to
gather information on investments the client absolutely does not want to include in an
investment mix. The number of children a couple may have provides an indication as to what
may be needed for education expenses, shows how children will affect family income, and
creates the need for other forms of planning such as trusts and guardianship issues.
You have just finished identifying and disclosing all of the apparent and potential conflicts of
interest in the relationship with your client. What is the next step that you would undertake as
you continue through the planning process?
A) analyze and evaluate the client's current financial status
B) gather information necessary to fulfill the engagement
C) implement the recommendations
D) develop recommendations - ANSWER---B
The identification and resolution of apparent and potential conflicts of interest in the
planner/client relationship occurs in the first step of the retirement planning process,
Establishing and Defining the Client/Planner Relationship. The next step is to gather information
necessary to fulfill the engagement, the second step in the retirement planning process.
