CFP

Question 1

20% Ratio

Answer 1

Short term non-deductible Debt / NET Income

Question 2

Chapter 13

Answer 2

Reorg

Question 3

Four Tools of the Fed

Answer 3

page 97

Question 4

Margin Call Price

Answer 4

Price = Loan / (1-maint margin)

Question 5

Housing Ratio

Answer 5

<28% PITI / Gross monthly income

Question 6

Not discharged in a bankruptcy

Answer 6

3 years back taxes Child support / alimony Student loans

Question 7

Bond Price Impact

Answer 7

chg Price = -D (1 / (1+yld)) to maturity?

Question 8

Protected in a bankruptcy

Answer 8

IRA rollovers – unlimited protection IRA/Roth – up to $1.3 million Inherited IRA – No protection Alimony / child support Pension, Life insurance, annuities

Question 9

Debt Ratio

Answer 9

<36% total debt payments / Gross Income

Question 10

Congressional Policy Goals

Answer 10

Maintain growth Maintain price stability Full employment

Question 11

FDIC Limits

Answer 11

…with joint accounts

Question 12

Tax Credits

Answer 12

Lifetime learning credit Other 1 Other 2

Question 13

Chapter 7

Answer 13

Liquidation

Question 14

College Accounts

Answer 14

Coverdell 529 UTMA

Question 15

Chapter 11

Answer 15

Businesses

Question 16

Exempt from Registration

Answer 16

TABLE T: A: B: L: E:

Question 17

Exemptions for ____

Answer 17

VIPs are SAFE

Question 18

Credit card liability limits

Answer 18

max of $50 per account or amount spent

Question 19

Inelastic Demand

Answer 19

Steep Curve

Question 20

Steps to FP Process

Answer 20

Uber Is A Drunk Person’s Immediate Motor vehicle 1. Understand 2. Identify 3. Analyze 4. Develop 5. Present 6. Implement 7. Monitor

Question 21

Brochure Rule

Answer 21

before client signs up

Question 22

Activities of Daily Living (ADL)

Answer 22

Long term care is triggered by lack of ability to do two of the following.

Dressing,

Eating,

Bathing,

Transferring,

Toileting and

Continence

Or a cognitive disorder (Alzheimers, dimentia, Parkinsons)

Question 23

Legal Contract

Answer 23

COAAL