Ctfa Study guides, Class notes & Summaries

CTFA Practice Exam #1 2024 Questions with 100% Correct Answers | Verified | Latest Update

Constructive Trusts : A fraud rectifying trust, imposed by a court to protect those who lose property to a wrongdoer Resulting Trust : An intent enforcing trust based upon the presumed intent of a transferor of property Implied Trust : An implied trust is an element of trust law, and refers to a trust that has not been "expressly created by the settlor."[1] There are two types of implied trust: Constructive Trusts and Resulting Trusts are always : Implied Trusts Can a minor hold ...

"Constructive Receipt" is normally applicable to the tax treatment of... : Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation : TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... : Annuities 1035 Exchange : IRS allows tax-free transfer of cash values between 2 LIKE policies (i...

CTFA - Financial Planning Exam Questions & Answers 2024 Asset Allocation should conform to an individual's _____________ - ANSWER-risk tolerance A springing durable power of attorney is effective only on a _____________________ - ANSWER-conditional event What is the minimum age for receiving Social Security benefits? - ANSWER-62 Assume Greg inherits stock from his father that he purchased at $50 per share and it appreciated to $75 per share by the date of his father's death. At t...

Asset Allocation should conform to an individual's _____________ - Answer-risk tolerance A springing durable power of attorney is effective only on a _____________________ - Answerconditional event What is the minimum age for receiving Social Security benefits? - Answer-62 Assume Greg inherits stock from his father that he purchased at $50 per share and it appreciated to $75 per share by the date of his father's death. At the time the estate settled one year later, the stock had declined ...

Tangible Personal Property - Answer-personal property that can be moved (ex. gold bar, jewelry) Probate Estate - Answer-the property of a decedent that is subject to administration by the executor or administrator of an estate Under joint tenants with rights of survivorship, when one tenant dies which of the following best describes the result? - Answer-Her share passes to the surviving joint tenant regardless of what her will says In cutting down a tree, which of the following occurs? - A...

CTFA Level 1 Exam Questions & Answers 2024 Tangible Personal Property - ANSWER-personal property that can be moved (ex. gold bar, jewelry) Probate Estate - ANSWER-the property of a decedent that is subject to administration by the executor or administrator of an estate Under joint tenants with rights of survivorship, when one tenant dies which of the following best describes the result? - ANSWER-Her share passes to the surviving joint tenant regardless of what her will says In cutt...

CTFA Exam Questions & Answers 2024 Test - ANSWER-This is a test Steven - ANSWER-Nyu student Governing Trust instrument State Trust Law Federal laws such as federal tax & environmental laws - ANSWER-Rules governing the actions of a trustee are determined by: Trustee - ANSWER-Legal title to trust property is vested in: Beneficiaries - ANSWER-Equitable title to trust property is held by: Yes - ANSWER-Can settlor create trust by oral expression of intent? Express Trust - ANS...

CTFA - Fiduciary & Trust Activities.