Study guides, Class notes & Summaries

CRPC DAMAGE CONTROL EXAM QUESTIONS AND ANSWERS This year, your 63-year-old client had $17,025 of earned income and $30,000 of investment income. He was also drawing Social Security benefits. Which one of the following correctly describes the impact on his Social Security benefits? He loses $1 of benefits for every $1 above the "allowable limit." He loses $1 of benefits for every $2 above the "allowable limit." He loses $1 of benefits for every $3 above the "allowable li...

CRPC DAMAGE CONTROL EXAM QUESTIONS AND ANSWERS This year, your 63-year-old client had $17,025 of earned income and $30,000 of investment income. He was also drawing Social Security benefits. Which one of the following correctly describes the impact on his Social Security benefits? He loses $1 of benefits for every $1 above the "allowable limit." He loses $1 of benefits for every $2 above the "allowable limit." He loses $1 of benefits for every $3 above the "allowable li...

CRPC DAMAGE CONTROL EXAM QUESTIONS AND ANSWERS This year, your 63-year-old client had $17,025 of earned income and $30,000 of investment income. He was also drawing Social Security benefits. Which one of the following correctly describes the impact on his Social Security benefits? He loses $1 of benefits for every $1 above the "allowable limit." He loses $1 of benefits for every $2 above the "allowable limit." He loses $1 of benefits for every $3 above the "allowable li...

CRPC DAMAGE CONTROL EXAM QUESTIONS AND ANSWERS This year, your 63-year-old client had $17,025 of earned income and $30,000 of investment income. He was also drawing Social Security benefits. Which one of the following correctly describes the impact on his Social Security benefits? He loses $1 of benefits for every $1 above the "allowable limit." He loses $1 of benefits for every $2 above the "allowable limit." He loses $1 of benefits for every $3 above the "allowable li...

CRPC EXAM EVALUATED QUESTIONS AND ANSWERS Richard wants to have an annual retirement income of $100,000 (payable at the beginning of each year) protected against 3% inflation. Assuming a 7% after-tax rate of return and a retirement period of 30 years, how much money (rounded) does Richard need in order to meet his goal? - CORRECT ANSWER -B) $1,822,043 To determine how much money Richard needs, calculate the inflation-adjusted rate of return: (1.07 1.03) - 1 100 = 3.8835. Next, clear yo...

CRPC EXAM EVALUATED QUESTIONS AND ANSWERS Richard wants to have an annual retirement income of $100,000 (payable at the beginning of each year) protected against 3% inflation. Assuming a 7% after-tax rate of return and a retirement period of 30 years, how much money (rounded) does Richard need in order to meet his goal? - CORRECT ANSWER -B) $1,822,043 To determine how much money Richard needs, calculate the inflation-adjusted rate of return: (1.07 1.03) - 1 100 = 3.8835. Next, clear yo...

CRPC EXAM EVALUATED QUESTIONS AND ANSWERS Richard wants to have an annual retirement income of $100,000 (payable at the beginning of each year) protected against 3% inflation. Assuming a 7% after-tax rate of return and a retirement period of 30 years, how much money (rounded) does Richard need in order to meet his goal? - CORRECT ANSWER -B) $1,822,043 To determine how much money Richard needs, calculate the inflation-adjusted rate of return: (1.07 1.03) - 1 100 = 3.8835. Next, clear yo...

CRPC EXAM EVALUATED QUESTIONS AND ANSWERS Richard wants to have an annual retirement income of $100,000 (payable at the beginning of each year) protected against 3% inflation. Assuming a 7% after-tax rate of return and a retirement period of 30 years, how much money (rounded) does Richard need in order to meet his goal? - CORRECT ANSWER -B) $1,822,043 To determine how much money Richard needs, calculate the inflation-adjusted rate of return: (1.07 1.03) - 1 100 = 3.8835. Next, clear yo...

CRPC ANALYZED EXAM QUESTIONS AND ANSWERS Which of the following are correct statements about the capital utilization strategy? - CORRECT ANSWER -I. It produces an annual retirement income over a finite number of years. II. Assuming the yield remains the same, the larger the retirement income that is paid, the shorter the number of years over which it will be paid. III. When the capital utilization approach is used, the planner must be careful in making assumptions about the life expectanc...

CRPC ANALYZED EXAM QUESTIONS AND ANSWERS Which of the following are correct statements about the capital utilization strategy? - CORRECT ANSWER -I. It produces an annual retirement income over a finite number of years. II. Assuming the yield remains the same, the larger the retirement income that is paid, the shorter the number of years over which it will be paid. III. When the capital utilization approach is used, the planner must be careful in making assumptions about the life expectanc...