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2-1 What are the two purposes of investment policy? Investment policy serves two purposes: - correct answer It provides a foundation of goals, time horizons, and constraints on which the client portfolio is constructed. For example, the policy may establish the goal of preserving the purchasing power of the portfolio while providing periodic distributions, and it may limit the acceptable securities to large-company stocks and U.S. Treasury securities. The goals, time horizons, and constrai...

The Department of Labor requirements regarding advice given to retirement investors will most likely - correct answer INCREASE CLIENT EXPECTATIONS OF ADVISERS AND PUT DOWNWARD PRESSURE ON FEES If asking you to solve for an annuity due where payments occur at the beginning of the period - correct answer you would set calculator for BEG. identifying specific funds in which to invest are discussed on? - correct answer Specific investments are not discussed until step four of the plannin...

6 Step Retirement Planning Process (EGAD I Made it) - correct answer 1. Establish and Define the Client-Counselor Relationship 2. Gather Client Data, Including Goals and Expectations 3. Analyzing Client Information to Determine Retirement Savings Need 4. Develop and Present Financial Planning Recommendations and/or Alternatives 5. Implement the Financial Plan Recommendations 6. Monitor the Financial Plan Recommendations 3 Current Trends in Retirement Planning - correct answer -Busin...

Retirement Planning Process Steps - correct answer EGADIM (EGAD I Made it) Establish Client Relationship Gather Data Analyze Data Develop Plan Implement Plan Monitor Plan Step 1 Retirement Planning Process - correct answer Establish Client Relationship Based upon trust and a mutually defined understanding of the scope of services to be offered Perception of trustworthiness Identifying the services to be provided Disclosing the counselor's compensation arrangement Determining e...

Whole life policies are designed to provide what - correct answer Level premiums, a guaranteed death benefit no matter when the insured dies and guaranteed cash flow Facts about a Roth IRA - correct answer With drawls from a Roth IRA for a first time home purchase, up to $10,000, or not penalized if the five-year holding period has been met. Total IRA contributions, both Ross and traditional, or aggregated and cannot exceed $6000. Distributions of principal from a Roth IRA are not subject...

What is a typical way to plan for the management of property if a client becomes incapacitated - correct answer Nominate a conservator for the property Create a durable power of attorney Create a trust True facts about living wills - correct answer They must be signed They must be witnessed by people who are not heirs They allow the maker to dictate what life sustaining measures may be taken Which one of the following is true regarding Medicare Part A? - correct answer Medicare P...

Securities act of 1933 - correct answer Required that new companies provide full disclosure through the issuance of a perspective Securities exchange act of 1934 - correct answer Created the SEC and empowered the commission to regulate exchanges and broker dealers and to require information from public companies Investment company act of 1940 - correct answer The regulation of mutual funds Investment advisors act of 1940 - correct answer Requires investment advisors to register ...

Mary Goodwin's financial situation is as follows: Cash/cash equivalents$15,000S hort-term debts$8,000 Long-term debts$133,000 Tax expense$7,000 Auto note payments$4,000 Invested assets$60,000 Use assets$188,000 What is her net worth? - correct answer $122,000 Assets = $263,000; liabilities = $141,000, so net worth is $122,000. Taxes and auto note payments appear on the cash flow statement. For the year ending December 31, XXXX, Bill Greer has the following financial information:...

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 expectancy of the client. IV. The effect of taxes on ...

replacement ratios should not be used as the only basis for planning. IV.Income replacement ratios are useful for younger clients as a guide to their long-range planning and investing. A) I and IV B) I and II C) II and III D) II, III, and IV - correct answer D If Tom and Jenny want to save a fixed amount annually to accumulate $2 million by their retirement date in 25 years (rather than an amount that grows with inflation each year), what level annual end-of-year savings amount wil...

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 does Richard need in order to meet his goal? Explain how you need to input this on the calculator and why. - correct answer Step One - Set the calculator to BEGIN. Step Two - Calculate the inflation adjusted rate of return (One plus the Rate of Return divided by O...

Gift splitting - correct answer Allows a married couple to double their allowable annual exclusions is only allowed for married couples Ownership limited to spouses only - correct answer Joint tenancy tenancy by the entirety community property Grantor retained interest Trust Grit - correct answer Grantor can receive all income earned by the trust Qualified terminable interest Property Trust Q-tip - correct answer Income of a Q-tip goes to the grantor's spouse Charitable lead...

No other qualified plan or 403(b) - correct answer Simple IRA or Simple 401(k) Younger employees benefit from years of contributions and compounding - correct answer Profit sharing, SEP, or Tandem Plan Business has stable cash flow and owner willing to make annual financial commitment, but either unwilling or unable to commit more than 25% compensation - correct answer Money Purchase or Target Benefit Plan to provid age-weighted plan Means to allow owner to meet his/her retirement...

Statment of Financial Position - correct answer Assets and Liabilities Net Worth Balances "balance sheet" Cash Flow Statment - correct answer Inflows and Outflows Payments Assets - correct answer cash and equivilants, stock, use assets, things clients own **even if not completly paid for. Should be valued at fair market value. **leased property and equipment are not typically included and may be shown in footnotes Liabilities - correct answer credit cards, bank ...

Describe the trend in early retirement for US workers approaching retirement age - correct answer Early retirement (full retirement) is on a decline Bridge Jobs = positions held between career and full retirement Retirees continue working part time - HCEs work longer Identify factors that would strengthen the argument for delayed retirement - correct answer 1. Defined contribution plans continue to displace defined benefit plans 2. Social Security benefits are subject to deductions if...

Fund JKL has a mean return of 8% and a standard deviation of 12, and its returns are evenly distributed. This would mean that 68% of the time its returns would fall between a. -4% and +20% b. +4% and +20% c. -8% and +8% d. -16% and +32% - correct answer a. -4% and +20% Assuming the market is currently returning 12% and the beta of your stock is .8. What percentage return can you expect on your stock? a. 2.4% b. 8.0% c. 9.6% d. 14.4% - correct answer c. 9.6% Jezebel o...

Cushing's Syndrome/Disease - correct answer cortisol excess typically caused by pituitary adenoma 60-70% of cases. Central obesity w/ extremity wasting. dorsocervical fat pad. rounded facies. spontaneous bruising. purple striae hyperpigmentation poor wound healing/ skin infections. Dexamethasone suppression test. 1mg dexamethasone at 2300 hours and measure serum cortisol at 0800. Remove sources of excess and manage consequences ( HTN, hypokalemia, hyperglycemia.) Addison...

What bacteria is associated with >90% duodenal ulcers and >75% gastric ulcers? - correct answer H. pylori Which medications cause peptic ulcer disease? - correct answer NSAIDS ASA Glucocorticoids At what age do duodenal ulcers typically present? - correct answer 30-55 yo. At what age do gastric ulcers typically present? - correct answer 55-65 years old What are the signs and symptoms associated with a duodenal ulcer? - correct answer Gnawing, epigastric pain Relief...

AGACNP Certification Exam 2023/2024 with 100% correct answers

AGACNP Certification Exam 2023/2024 with 100% correct answers