CDFA Exam Study Materials EXAM (updated 2026)
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Leveraged Buyouts (LBOs) and Mod... Fundimentals of Income Taxation Te... Breaking Into Wall Street LBO Guide... FB
Teacher 303 terms Teacher 100 terms Teacher 7 terms Te
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Terms in this set (266)
An employee who has at least five years of service 5-year cliff vesting
must have a non-forfeitable right to 100% of the
employee's accrued benefit [IRC §411(a)(2)(A)].
An employee who has completed at least three years 3- to 7-year vesting (7-year graded vesting)
of service must have a non-forfeitable right to at least
the following percentages of his or her accrued benefit:
20% after three years of service, 40% after four years of
service, 60% after five years of service, 80% after six
years of service, and 100% after seven years of service
[IRC §411(a)(2)(B)].
3-year cliff vesting or 6-year graded vesting. Top-heavy plans or matching contributions typically use _________ vesting
Schedule ____ may help identify unlisted assets or Schedule A: Itemized Deductions
sources of income. For example, property taxes may
reveal real property or a boat that one spouse does not
know exists; and gambling losses would reveal that
there are gambling winnings.
, Schedule ____ identifies the assets and investments Schedule B: Interest and Ordinary Dividends
generating interest and dividends.
Schedule ___ may be a place to hide assets or income. Schedule C: Profit or Loss from Business
For example, depreciation expense is not a cash
outflow and should sometimes be added back to net
income to determine actual income. The depreciation
schedule may also reveal additional assets in the
business.
Schedule _______ is used to report gains and losses from Schedule D: Capital Gains and Losses
the sale of stocks, bonds, and real estate.
Schedule _____ is used to report income from rental Schedule E: Supplemental Income and Loss
properties, royalties, partnerships, and S-corporation
income. Depreciation would be something to review.
Form _________ is used to report partnership income. Form 1065
Form __________ is used to report corporate income Form 1120
Form ___________ is used to report corporate income for S Form 1120S
corporations.
Schedule ____________________ includes additional income, Schedule 1: Additional Income and Adjustments to Income
such as capital gains, unemployment compensation,
prize or award money, and gambling winnings. It also
includes deductions such as student loan interest, self-
employment tax, and educator expenses.
Schedule _________ details the alternative minimum tax Schedule 2 Tax
(ATM) or an excess advance premium tax credit
repayment.
Schedule _________ is used to claim a nonrefundable credit Schedule 3 Nonrefundable Credits
other than the child tax credit or the credit for other
dependents, such as the foreign tax credit, education
credits, or general business credit.
Schedule ___________ reports other taxes, such as self- Schedule 4 Other Taxes
employment tax, household employment taxes,
additional tax on IRAs or other qualified retirement
plans and tax-favored accounts.
Questions & Answers | With 100% Correct Answers graded
A+ Guaranteed Success!!
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
Leveraged Buyouts (LBOs) and Mod... Fundimentals of Income Taxation Te... Breaking Into Wall Street LBO Guide... FB
Teacher 303 terms Teacher 100 terms Teacher 7 terms Te
Cliff6955 Preview cliff_Rosasi Preview Cliff6955 Preview
Terms in this set (266)
An employee who has at least five years of service 5-year cliff vesting
must have a non-forfeitable right to 100% of the
employee's accrued benefit [IRC §411(a)(2)(A)].
An employee who has completed at least three years 3- to 7-year vesting (7-year graded vesting)
of service must have a non-forfeitable right to at least
the following percentages of his or her accrued benefit:
20% after three years of service, 40% after four years of
service, 60% after five years of service, 80% after six
years of service, and 100% after seven years of service
[IRC §411(a)(2)(B)].
3-year cliff vesting or 6-year graded vesting. Top-heavy plans or matching contributions typically use _________ vesting
Schedule ____ may help identify unlisted assets or Schedule A: Itemized Deductions
sources of income. For example, property taxes may
reveal real property or a boat that one spouse does not
know exists; and gambling losses would reveal that
there are gambling winnings.
, Schedule ____ identifies the assets and investments Schedule B: Interest and Ordinary Dividends
generating interest and dividends.
Schedule ___ may be a place to hide assets or income. Schedule C: Profit or Loss from Business
For example, depreciation expense is not a cash
outflow and should sometimes be added back to net
income to determine actual income. The depreciation
schedule may also reveal additional assets in the
business.
Schedule _______ is used to report gains and losses from Schedule D: Capital Gains and Losses
the sale of stocks, bonds, and real estate.
Schedule _____ is used to report income from rental Schedule E: Supplemental Income and Loss
properties, royalties, partnerships, and S-corporation
income. Depreciation would be something to review.
Form _________ is used to report partnership income. Form 1065
Form __________ is used to report corporate income Form 1120
Form ___________ is used to report corporate income for S Form 1120S
corporations.
Schedule ____________________ includes additional income, Schedule 1: Additional Income and Adjustments to Income
such as capital gains, unemployment compensation,
prize or award money, and gambling winnings. It also
includes deductions such as student loan interest, self-
employment tax, and educator expenses.
Schedule _________ details the alternative minimum tax Schedule 2 Tax
(ATM) or an excess advance premium tax credit
repayment.
Schedule _________ is used to claim a nonrefundable credit Schedule 3 Nonrefundable Credits
other than the child tax credit or the credit for other
dependents, such as the foreign tax credit, education
credits, or general business credit.
Schedule ___________ reports other taxes, such as self- Schedule 4 Other Taxes
employment tax, household employment taxes,
additional tax on IRAs or other qualified retirement
plans and tax-favored accounts.
