Passing the CFP Exam is the most challenging step in obtaining your Certified Financial Planner designation. Topics on the test include general principles, insurance planning, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning. Try these free CFP practice questions to help you with your test prep. Good luck with your certification!
CFP Exam Questions
Increase of 2%.
Increase of 8%.
Decrease of 2%.
Decrease of 4%.
European Mutual Funds.
International Fixed Annuities.
Foreign Deposit Trusts.
American Depositary Receipts.
The employer goes out of business.
The covered employee dies.
The employee loses eligibility for coverage due to involuntary termination.
A divorce terminates the eligibility for coverage of a spouse.
He will have a gain of $30,000.
He will have a loss of $5,000.
He will have a gain of $8,000.
He will not need to show anything about this stock sale on his tax filings.
They are a type of defined-benefit plan.
The employer can vary their contributions based on profitability.
The employer contributions are not tax deductible.
The employer is required to make a contribution to the plan each year.
Prosecution by the IRS.
Basis adjustment and holding period adjustment.
Sale is cancelled retroactively.
Increased margin requirements.
A farm owned as community property.
A car owned by the decedent.
Salary due to the deceased.
A Keogh Plan with a named beneficiary.
Buying call options.
Buying put options.
Selling put options.
Must be a domestic corporation.
Shareholders must be individuals, estates, certain exempt organizations, or certain trusts.
Must have more than 100 shareholders.
Must have one class of stock.
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The CFP exam is 10 hours long, and all questions are multiple choice format. It is divided into 3 sessions, and each session has a series of CFP exam questions along with a lengthy case study. The first session is always on a Friday, and is 4 hours long. Then there are two session on Saturday that are each 3 hours long.
The CFP test is administered by the Certified Financial Planner Board of Standards. Due to the number of questions and the broad range of topics, your CFP exam prep will require many hours of studying. Practice questions are great for test prep, so be sure to work through as many CFP sample questions as possible.