CDFA ACTUAL EXAM PRACTICE QUESTIONS
WITH 100% CORRECT ANSWERS NEW MODIFIED
CURRENTLY TESTED AND GRADED A+2026
LATEST UPGRADE
What impact have the "no-fault" divorce laws had on divorces in the United
States?
a) An increase in the number of divorces
b) A decrease in the number of divorces
c) An increase in the amount of spousal support that is paid
d) An increase in the amount of child support that is paid --CORRECT ANSWER--An
increase in the number of divorces
Which of the following individuals is most likely to seek the services of a CDFA®
professional?
a) John, age 45, earns $40,000 per year and lives in an apartment with his wife who earns
$25,000. Their only assets are checking and savings accounts totaling $5,000.
b) Mary, age 40, is a stay-at-home wife and her husband earns $150,000. They have assets
valued at $250,000. They have a mortgage of $80,000.
c) Henry, age 35, earns $40,000 and owns an IRA valued at $35,000. His wife earns
$45,000 and she has a 401(k) valued at $36,000.
d) Helen, age 30, is pregnant. Helen and her husband each earn $36,000. They have assets
Page 1 of 103
,with a value of $80,000. --CORRECT ANSWER--b) Mary, age 40, is a stay-at-home wife
and her husband earns $150,000. They have assets valued at $250,000. They have a mortgage
of $80,000.
joint income of $100,000 or greater and joint assets that exceed $100,000
Jane, a clinical social worker, has also been trained as a mediator. Which of the following is
an appropriate way to use her mediation training?
a) Jane is preparing court documents for clients.
b) Jane is working as an arbitrator.
c) Jane is mediating a divorce case referred to her by a friend.
d) Jane is mediating a divorce case for a friend. --CORRECT ANSWER--c) Jane is mediating
a divorce case referred to her by a friend.
Which of the following activities are appropriate for a mediator to do?
a) Provide legal advice.
b) Be an advocate for one party.
c) Act as a neutral third party.
d) Make a binding settlement. --CORRECT ANSWER--c) Act as a neutral third party.
Which of the following is NOT an appropriate service that CDFA® professionals can
provide?
a) Determine the financial impact of the proposed settlement.
Page 2 of 103
,b) Provide litigation support relating to financial issues.
c) Prepare a report showing the financial impact of one spouse keeping the family home.
d) Prepare business valuations and analysis. --CORRECT ANSWER--d) Prepare business
valuations and analysis.
Susie, age 35, gave up her career to stay home with the children for 10 years. Which of the
following questions would be inappropriate for the CDFA® professional to ask her?
a) Will you return to the workforce?
b) What level of income can you expect to earn when you return to the workforce?
c) At what age would you like to retire?
d) How much spousal support do you need so that you do not have to work? --CORRECT
ANSWER--d) How much spousal support do you need so that you do not have to work?
It is not appropriate for the CDFA® professional to ask Susie how much
spousal support she would need if she does not return to work. Given her age
of 35, Susie should be expected to return to the work force—unless she suffers
from a medical condition that would prevent her from working or if her
children require care and it would not be cost-effective for her to work.
Which of the following individuals may be appointed by the court to help the spouses
negotiate a settlement?
a) An arbitrator
b) A judge
Page 3 of 103
, c) A mediator
d) A lawyer --CORRECT ANSWER--
Which of the following statements by a CDFA® professional would be considered providing
legal advice?
a) "You will pay capital gains tax if you sell your house."
b) "You will be in better financial shape if you take the savings account."
c) "Your financial status in 10 years will be at this level if you have more maintenance."
d) "You should require that the house be sold immediately." --CORRECT ANSWER--d)
"You should require that the house be sold immediately."
Mary is working as a CDFA® professional for her client, Stephanie. Stephanie would prefer
to pay only one person to do as much as possible for her. What can Mary do for Stephanie
that would NOT be a conflict of interest with her duties as a CDFA® professional?
a) Provide financial planning advice
b) Prepare her tax returns
c) Testify as an expert witness
d) Prepare a business valuation --CORRECT ANSWER--c) Testify as an expert witness
Bob, a CPA, has prepared tax returns for Andy and Amy for more than a decade. Andy and
Amy are now getting a divorce, and Amy wants to hire Bob as her CDFA® professional.
Which of the following should Bob tell her?
a) That Bob can be hired as Amy's CDFA® professional
Page 4 of 103
WITH 100% CORRECT ANSWERS NEW MODIFIED
CURRENTLY TESTED AND GRADED A+2026
LATEST UPGRADE
What impact have the "no-fault" divorce laws had on divorces in the United
States?
a) An increase in the number of divorces
b) A decrease in the number of divorces
c) An increase in the amount of spousal support that is paid
d) An increase in the amount of child support that is paid --CORRECT ANSWER--An
increase in the number of divorces
Which of the following individuals is most likely to seek the services of a CDFA®
professional?
a) John, age 45, earns $40,000 per year and lives in an apartment with his wife who earns
$25,000. Their only assets are checking and savings accounts totaling $5,000.
b) Mary, age 40, is a stay-at-home wife and her husband earns $150,000. They have assets
valued at $250,000. They have a mortgage of $80,000.
c) Henry, age 35, earns $40,000 and owns an IRA valued at $35,000. His wife earns
$45,000 and she has a 401(k) valued at $36,000.
d) Helen, age 30, is pregnant. Helen and her husband each earn $36,000. They have assets
Page 1 of 103
,with a value of $80,000. --CORRECT ANSWER--b) Mary, age 40, is a stay-at-home wife
and her husband earns $150,000. They have assets valued at $250,000. They have a mortgage
of $80,000.
joint income of $100,000 or greater and joint assets that exceed $100,000
Jane, a clinical social worker, has also been trained as a mediator. Which of the following is
an appropriate way to use her mediation training?
a) Jane is preparing court documents for clients.
b) Jane is working as an arbitrator.
c) Jane is mediating a divorce case referred to her by a friend.
d) Jane is mediating a divorce case for a friend. --CORRECT ANSWER--c) Jane is mediating
a divorce case referred to her by a friend.
Which of the following activities are appropriate for a mediator to do?
a) Provide legal advice.
b) Be an advocate for one party.
c) Act as a neutral third party.
d) Make a binding settlement. --CORRECT ANSWER--c) Act as a neutral third party.
Which of the following is NOT an appropriate service that CDFA® professionals can
provide?
a) Determine the financial impact of the proposed settlement.
Page 2 of 103
,b) Provide litigation support relating to financial issues.
c) Prepare a report showing the financial impact of one spouse keeping the family home.
d) Prepare business valuations and analysis. --CORRECT ANSWER--d) Prepare business
valuations and analysis.
Susie, age 35, gave up her career to stay home with the children for 10 years. Which of the
following questions would be inappropriate for the CDFA® professional to ask her?
a) Will you return to the workforce?
b) What level of income can you expect to earn when you return to the workforce?
c) At what age would you like to retire?
d) How much spousal support do you need so that you do not have to work? --CORRECT
ANSWER--d) How much spousal support do you need so that you do not have to work?
It is not appropriate for the CDFA® professional to ask Susie how much
spousal support she would need if she does not return to work. Given her age
of 35, Susie should be expected to return to the work force—unless she suffers
from a medical condition that would prevent her from working or if her
children require care and it would not be cost-effective for her to work.
Which of the following individuals may be appointed by the court to help the spouses
negotiate a settlement?
a) An arbitrator
b) A judge
Page 3 of 103
, c) A mediator
d) A lawyer --CORRECT ANSWER--
Which of the following statements by a CDFA® professional would be considered providing
legal advice?
a) "You will pay capital gains tax if you sell your house."
b) "You will be in better financial shape if you take the savings account."
c) "Your financial status in 10 years will be at this level if you have more maintenance."
d) "You should require that the house be sold immediately." --CORRECT ANSWER--d)
"You should require that the house be sold immediately."
Mary is working as a CDFA® professional for her client, Stephanie. Stephanie would prefer
to pay only one person to do as much as possible for her. What can Mary do for Stephanie
that would NOT be a conflict of interest with her duties as a CDFA® professional?
a) Provide financial planning advice
b) Prepare her tax returns
c) Testify as an expert witness
d) Prepare a business valuation --CORRECT ANSWER--c) Testify as an expert witness
Bob, a CPA, has prepared tax returns for Andy and Amy for more than a decade. Andy and
Amy are now getting a divorce, and Amy wants to hire Bob as her CDFA® professional.
Which of the following should Bob tell her?
a) That Bob can be hired as Amy's CDFA® professional
Page 4 of 103
