Cepa Script Complete Answers Graded A+

CEPA SCRIPT COMPLETE ANSWERS
GRADED A+

◉ The components of integrated wealth management for
individuals are:
Answer: Retirement planning, risk management, estate planning,
portfolio management


◉ A business owner only needs one advisor to complete their exit
planning (T/F)
Answer: False


◉ Typical estate planning conversations discuss how to preserve
a decedent spouse's "coupon." (T/F)
Answer: True


◉ A _____ gift is one in which the person who received the gift has
the unrestricted right to the immediate possession and use of it.
Answer: Present Interest Gift


◉ All states have an estate tax (T/F)
Answer: False


◉ Not all states have an estate tax (T/F)

, Answer: True


◉ A descendant's unused federal estate tax exemption may be
used by the surviving spouse (T/F)
Answer: True


◉ A descendant's unused federal estate tax exemption may not be
used by the surviving spouse (T/F)
Answer: False


◉ The most efficient use of the federal estate/gift exemption is
during life (T/F)
Answer: True


◉ A gift received by a person is not taxable income
Answer: True


◉ The main goal of minimizing wealth tax is to:
Answer: Maximize the client's portion of earnings and minimize
the IRS's portion


◉ What does the acronym "NING" stand for when looking at
income tax planning options?
Answer: Nevada Incomplete Non-Grantor Trust