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CERTIFIED ESTATE PLANNER (CEP) EXAM 2026
Which of the following are estate planning goals?
All of the above
Fulfilling client's healthcare decisions
Minimizing transfer taxes
Providing liquidity at death - ANSWER -All of the above
Which of the following advisors can play an advisory role on the estate
planning team?
Financial planners
CPAs
All of the above
Attorneys - ANSWER -All of the above
True or False: You are a Certified Financial Planning profession but you
are not an attorney. Your client asks you to help them creating a will
using legalzoom.com. You are able to help them.
True
False - ANSWER -False
pg. 1
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You are a Financial Planner but not a licensed attorney. Which of the
following activities would be considered the unauthorized practice of
law?
Preparing a will for a client
Reading the will and trusts for a client
Helping a client to identify their estate planning goals
Preparing a Net Worth Statement for a client - ANSWER -Preparing a
will for a client
John has decided not to prepare an estate plan because he thinks the
costs are too high. All of the following are risks of not having an estate
plan EXCEPT:
John's current wife may not provide for his children from a prior
marriage
John's estate could incur extra transfer taxes
John's IRA will not be paid to his beneficiary
John's car may not be transferred to his mother as he wishes - ANSWER
-John's IRA will not be paid to his beneficiary
An Estate plan is:
a plan for managing property during lifetime and at death
a plan for managing investments
a plan for disposition of assets at death
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only needed if you are wealthy - ANSWER -a plan for managing
property during lifetime and at death
The following are transfer costs associated with estate planning EXCEPT:
Property taxes on inherited property
Costs of retitling assets
Attorney fee for document preparation
Estate and inheritance taxes - ANSWER -Property taxes on inherited
property
Miguel and Maria (siblings) purchase a vacation condo for $300,000.
Miguel expects to use it 70% of the time and Sara 30% of the time.
Miguel contributes $210,000. The ownership percentage equals their
contribution percentage. How must the property be titled to reflect
their ownership interests?
Tenancy by the Entirety
JTWROS
Community Property
Tenancy in Common - ANSWER -Tenancy in Common
Five siblings own a vacation property. Which form of property
ownership titles must they use?
Community Property
Tenancy by the Entirety
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Life Estate
Tenancy in common - ANSWER -Tenancy in common
Select the following: A decedent's property can be subject to ancillary
probate if:
decedent was a resident in a community property state
decedent is a resident of AZ and the property is located in AZ
decedent is a resident of AZ but owns property in Utah titled as tenant
in common
decedent is a resident of Arizonast and owns a real property interest in
JTWROS property in Utah - ANSWER -decedent is a resident of AZ but
owns property in Utah titled as tenant in common
Which of the following states is not a community property state?
Wisconsin
California
Illinois
Arizona - ANSWER -Illinois
Tenancy by the entirety is a property titling that exists between?
Two related individuals
Spouses
Two unrelated individuals - ANSWER -Spouses
pg. 4
CERTIFIED ESTATE PLANNER (CEP) EXAM 2026
Which of the following are estate planning goals?
All of the above
Fulfilling client's healthcare decisions
Minimizing transfer taxes
Providing liquidity at death - ANSWER -All of the above
Which of the following advisors can play an advisory role on the estate
planning team?
Financial planners
CPAs
All of the above
Attorneys - ANSWER -All of the above
True or False: You are a Certified Financial Planning profession but you
are not an attorney. Your client asks you to help them creating a will
using legalzoom.com. You are able to help them.
True
False - ANSWER -False
pg. 1
,2|Page
You are a Financial Planner but not a licensed attorney. Which of the
following activities would be considered the unauthorized practice of
law?
Preparing a will for a client
Reading the will and trusts for a client
Helping a client to identify their estate planning goals
Preparing a Net Worth Statement for a client - ANSWER -Preparing a
will for a client
John has decided not to prepare an estate plan because he thinks the
costs are too high. All of the following are risks of not having an estate
plan EXCEPT:
John's current wife may not provide for his children from a prior
marriage
John's estate could incur extra transfer taxes
John's IRA will not be paid to his beneficiary
John's car may not be transferred to his mother as he wishes - ANSWER
-John's IRA will not be paid to his beneficiary
An Estate plan is:
a plan for managing property during lifetime and at death
a plan for managing investments
a plan for disposition of assets at death
pg. 2
,3|Page
only needed if you are wealthy - ANSWER -a plan for managing
property during lifetime and at death
The following are transfer costs associated with estate planning EXCEPT:
Property taxes on inherited property
Costs of retitling assets
Attorney fee for document preparation
Estate and inheritance taxes - ANSWER -Property taxes on inherited
property
Miguel and Maria (siblings) purchase a vacation condo for $300,000.
Miguel expects to use it 70% of the time and Sara 30% of the time.
Miguel contributes $210,000. The ownership percentage equals their
contribution percentage. How must the property be titled to reflect
their ownership interests?
Tenancy by the Entirety
JTWROS
Community Property
Tenancy in Common - ANSWER -Tenancy in Common
Five siblings own a vacation property. Which form of property
ownership titles must they use?
Community Property
Tenancy by the Entirety
pg. 3
, 4|Page
Life Estate
Tenancy in common - ANSWER -Tenancy in common
Select the following: A decedent's property can be subject to ancillary
probate if:
decedent was a resident in a community property state
decedent is a resident of AZ and the property is located in AZ
decedent is a resident of AZ but owns property in Utah titled as tenant
in common
decedent is a resident of Arizonast and owns a real property interest in
JTWROS property in Utah - ANSWER -decedent is a resident of AZ but
owns property in Utah titled as tenant in common
Which of the following states is not a community property state?
Wisconsin
California
Illinois
Arizona - ANSWER -Illinois
Tenancy by the entirety is a property titling that exists between?
Two related individuals
Spouses
Two unrelated individuals - ANSWER -Spouses
pg. 4
