CRPC Exam Sample Quiz | Questions with Verified Answers| 100% Correct | Already Graded A+ | Latest 2026/2027 Update.

CRPC Exam Sample Quiz | Questions with
Verified Answers| 100% Correct | Already
Graded A+ | Latest 2026/2027 Update.
Question:

Norman and Brenda Walker are married taxpayers filing jointly. They are
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both 44 years old. Norman earned $132 this year, and Brenda earned
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$100,000. Brenda is an active participant in the qualified plan offered by
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her employer, and she contributed $1,500 to her IRA for this tax year.
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How much can be contributed to a spousal IRA and deducted for Norman
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for 2022?
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A)
$0

B)
$4,500
C)

$132

D)

$6,000?

Answer:

D




Question:

,James and Doris Stewart, both age 40, will contribute a total of $12,000 to
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their IRAs for 2022. They both work outside the home, and they file a joint
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tax return. James is a teacher at the local high school and contributes to a
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TSA. Doris's employer has no retirement plan. Their adjusted gross
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earnings for this year will be $117,000. What amount can they deduct for
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their IRA contributions?
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A)

$6,000

B)
$9,600
C)

$8,800
D)
$12,000?

Answer:

B




Question:

Charlie contributed $2,000 to Roth IRA 1 last year, when he was age 24,
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and $2,000 to Roth IRA 2 this year. Two years from now, Roth IRA 1 will
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have a balance of $2,650, and Roth IRA 2 will have a balance of $2,590,
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and Charlie will close Roth IRA 1, receiving the balance of $2,650. Which
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one of the following statements best describes his tax and penalty status
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for that year?
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A)

,He cannot make any withdrawals because the money has not been in the
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Roth IRA for five years or longer.
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B)

He will not pay taxes or a penalty.
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C)
He only pays ordinary taxes because Roth IRA distributions are not subject
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to a penalty.
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D)

He must pay taxes and a penalty on the full distribution.?
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Answer:
B




Question:

The "required beginning date" (RBD) for IRA distributions is which one of
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the following?
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A)
April 1 of the year following the year in which age 72 was attained
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B)

April 15 of the year following the year in which age 72 was attained
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C)

April 15 of the year in which age 72 was attained
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D)
April 1 of the year in which age 72 was attained?
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, Answer:
A




Question:

Over a period of 10 years, Mark contributed a total of $20,000 to a
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nondeductible IRA. The current value of Mark's IRA is $40,000, and Mark,
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who is now age 45, has decided to use all of his IRA assets for the down
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payment on a second home. Assuming Mark's marginal tax bracket is
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35%, how much does he owe in taxes and penalties?
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A)
$2,000
B)

$9,000

C)
$7,000
D)
$14,000?

Answer:

B




Question: