AAMS Exam 2026 COMPREHENSIVE EXAM
QUESTIONS WITH DETAILED VERIFIED AND 100%
CORRECT ANSWERS BRAND NEW EXAM
ALREADY GRADED A+!!
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Terms in this set (80)
An employer plans to use corporate- Variable life insurance
owned life insurance to informally
fund a nonqualified deferred
compensation agreement and wants
flexibility regarding investment
choices. Which one of the following
types of life insurance should this
employer choose?
The latest economic reports have contrarian
been gloomy, and the stock market
is in a protracted slump. Most of your
regular stock customers are selling
out their positions. A new client, Mr.
Jones, sees these conditions as a
buying opportunity. You would
define his investment personality as
,As of December 31, 20X1, Bob Larkin $364,000
has the following financial data:
Assets = $17,000 + $400,000 + $95,000 +$45,000 +
Bond fund $17,000 $8,000 + $15,000 + $125,000 = $705,000. Liabilities =
Residence$400,000 $16,000 + $285,000 + $40,000 = $341,000, so net
Vested 401(k) plan$95,000 worth is $364,000. Notice that auto notes of
Auto notes$16,000 $16,000 are included in this calculation, but auto
Residence mortgage$285,000 payments of $7,000 is a cash flow item and
Auto payments$7,000 therefore not included.
Automobiles$45,000
Checking account$8,000
Utilities$4,000
CD$15,000
Stock$125,000
Home equity loan$40,000
What is Bob's net worth?
, For the year ending December 31, $2,700
20X2, Ted Jones has the following
financial information: Income = $70,000 + $1,100 + $2,100 = $73,200.
Expenses = $5,000 + $3,800 + $8,000 + $3,500 +
Salaries$70,000 $14,000 + $13,000 + $9,000 + $8,400 + $5,800 =
Auto payments$5,000 $70,500, so there is a surplus of $2,700
Insurance$3,800
Food$8,000
Credit card balance$10,000
Dividends$1,100
Utilities$3,500
Mortgage payments$14,000
Taxes$13,000
Clothing$9,000
Interest income$2,100
Checking account$4,000
Vacations$8,400
Donations$5,800
What is the surplus or (deficit) for
Ted?
Which one of the following Legally, suitability disputes are often resolved in
statements comparing the suitability arbitration whereas fiduciary disputes are ultimately
and fiduciary standards is correct? resolved in the courts.
Which one of the following types of indirect rollover
distributions from a qualified
retirement plan may be subject to
mandatory 20% withholding?
Which one of the following The employer's deduction is available in the year
statements regarding a qualified plan that a contribution is made.
is correct?
QUESTIONS WITH DETAILED VERIFIED AND 100%
CORRECT ANSWERS BRAND NEW EXAM
ALREADY GRADED A+!!
Save
Terms in this set (80)
An employer plans to use corporate- Variable life insurance
owned life insurance to informally
fund a nonqualified deferred
compensation agreement and wants
flexibility regarding investment
choices. Which one of the following
types of life insurance should this
employer choose?
The latest economic reports have contrarian
been gloomy, and the stock market
is in a protracted slump. Most of your
regular stock customers are selling
out their positions. A new client, Mr.
Jones, sees these conditions as a
buying opportunity. You would
define his investment personality as
,As of December 31, 20X1, Bob Larkin $364,000
has the following financial data:
Assets = $17,000 + $400,000 + $95,000 +$45,000 +
Bond fund $17,000 $8,000 + $15,000 + $125,000 = $705,000. Liabilities =
Residence$400,000 $16,000 + $285,000 + $40,000 = $341,000, so net
Vested 401(k) plan$95,000 worth is $364,000. Notice that auto notes of
Auto notes$16,000 $16,000 are included in this calculation, but auto
Residence mortgage$285,000 payments of $7,000 is a cash flow item and
Auto payments$7,000 therefore not included.
Automobiles$45,000
Checking account$8,000
Utilities$4,000
CD$15,000
Stock$125,000
Home equity loan$40,000
What is Bob's net worth?
, For the year ending December 31, $2,700
20X2, Ted Jones has the following
financial information: Income = $70,000 + $1,100 + $2,100 = $73,200.
Expenses = $5,000 + $3,800 + $8,000 + $3,500 +
Salaries$70,000 $14,000 + $13,000 + $9,000 + $8,400 + $5,800 =
Auto payments$5,000 $70,500, so there is a surplus of $2,700
Insurance$3,800
Food$8,000
Credit card balance$10,000
Dividends$1,100
Utilities$3,500
Mortgage payments$14,000
Taxes$13,000
Clothing$9,000
Interest income$2,100
Checking account$4,000
Vacations$8,400
Donations$5,800
What is the surplus or (deficit) for
Ted?
Which one of the following Legally, suitability disputes are often resolved in
statements comparing the suitability arbitration whereas fiduciary disputes are ultimately
and fiduciary standards is correct? resolved in the courts.
Which one of the following types of indirect rollover
distributions from a qualified
retirement plan may be subject to
mandatory 20% withholding?
Which one of the following The employer's deduction is available in the year
statements regarding a qualified plan that a contribution is made.
is correct?
