CDFA Exam || Most Recent Exam 2026-2027 Actual
Complete Real Exam Questions And Correct Answers
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Which tax benefit does the non-custodial parent qualify? -
ANSWER -Child Tax
Credit
Which tax carryforward does not have a rule for allocation
between spouses? -
ANSWER -alternative minimum
tax credit
What tax carryforward affect the basis of an asset upon transfer
in a divorce? -
ANSWER -Passive
activity loss
This credit is refundable. The credit is paid even if all of the
taxes that were
withheld are refunded to the taxpayer. - ANSWER -Earned
Income Tax Credit
At what age can a spouse collect on the widow benefits of
Social Security -
,ANSWER -
60
Difference between amount of spousal/child support paid, and
amount required
under court order - ANSWER –
Arrearages
Tax strategy that involves "bunching" itemized deductions so
that they are high
in one year and low the following year. The standard deduction
can be used on
the alternate year. - ANSWER -Bunching
Deductions
(dependency exemption) a nonrefundable childcare tax credit
available to the custodial parent who pays for child or
dependent care expenses so that they can be gainfully
employed. - ANSWER -Childcare Credit
States that if any amount of spousal support specified in the
divorce decree is reduced: (a) upon the happening of any
contingency related to the child; or (b) at a time that can be
clearly associated with a contingency related to the child, then
the amount of the reduction will be treated as child support,
rather than spousal support. These payments will be
considered child support when the payments begin. (IRS Code
Section 71(c)(2)) - ANSWER -Child Contingency Rule
, an agreement between two or more persons where one of the
parties brings
false charges against the other. this is illegal -
ANSWER -collusion
The act of forgiving one's spouse who has committed an act of
wrongdoing that
would constitute grounds for divorce. It generally is
proven by living and
cohabitating with the spouse after learning that the wrongdoing
was committed.
It is often used as a defense to a divorce. - ANSWER
–condonation
Used to separate the portion of the benefits in a pension plan
earned during marriage from the portion earned outside of the
marriage. Under this approach, the alternate payee's share of
the benefit is based on the participant's benefit at the
participant's date of retirement (when it is highest). Once the
participant's final benefit is calculated, the marital portion is
determined by multiplying the accrued benefit by a coverture
fraction: the number of years married while earning the pension
divided by the total number of years of service under the plan
until retirement. The alternate payee would then be entitled to
half of the marital portion of the ultimate pension. - ANSWER -
Coverture Fraction
One of three methods that can be used to divide pension
benefits. No present
Complete Real Exam Questions And Correct Answers
(Verified Answers) Already Graded A+ | Guaranteed
Success!! | Newest Exam | Just Released!!
Which tax benefit does the non-custodial parent qualify? -
ANSWER -Child Tax
Credit
Which tax carryforward does not have a rule for allocation
between spouses? -
ANSWER -alternative minimum
tax credit
What tax carryforward affect the basis of an asset upon transfer
in a divorce? -
ANSWER -Passive
activity loss
This credit is refundable. The credit is paid even if all of the
taxes that were
withheld are refunded to the taxpayer. - ANSWER -Earned
Income Tax Credit
At what age can a spouse collect on the widow benefits of
Social Security -
,ANSWER -
60
Difference between amount of spousal/child support paid, and
amount required
under court order - ANSWER –
Arrearages
Tax strategy that involves "bunching" itemized deductions so
that they are high
in one year and low the following year. The standard deduction
can be used on
the alternate year. - ANSWER -Bunching
Deductions
(dependency exemption) a nonrefundable childcare tax credit
available to the custodial parent who pays for child or
dependent care expenses so that they can be gainfully
employed. - ANSWER -Childcare Credit
States that if any amount of spousal support specified in the
divorce decree is reduced: (a) upon the happening of any
contingency related to the child; or (b) at a time that can be
clearly associated with a contingency related to the child, then
the amount of the reduction will be treated as child support,
rather than spousal support. These payments will be
considered child support when the payments begin. (IRS Code
Section 71(c)(2)) - ANSWER -Child Contingency Rule
, an agreement between two or more persons where one of the
parties brings
false charges against the other. this is illegal -
ANSWER -collusion
The act of forgiving one's spouse who has committed an act of
wrongdoing that
would constitute grounds for divorce. It generally is
proven by living and
cohabitating with the spouse after learning that the wrongdoing
was committed.
It is often used as a defense to a divorce. - ANSWER
–condonation
Used to separate the portion of the benefits in a pension plan
earned during marriage from the portion earned outside of the
marriage. Under this approach, the alternate payee's share of
the benefit is based on the participant's benefit at the
participant's date of retirement (when it is highest). Once the
participant's final benefit is calculated, the marital portion is
determined by multiplying the accrued benefit by a coverture
fraction: the number of years married while earning the pension
divided by the total number of years of service under the plan
until retirement. The alternate payee would then be entitled to
half of the marital portion of the ultimate pension. - ANSWER -
Coverture Fraction
One of three methods that can be used to divide pension
benefits. No present
