California (CA) Professional Fiduciary Practice Exam
DFPI Licensing Test – 200 Questions with Answers &
Explanations | Updated for 2026-2027
Professional Fiduciaries Act Business & Professions Code Division 3.5 Sections
6500-6592 | Conservatorships, Trust Administration, Estate Administration, Elder
Financial Abuse, Accounting, Ethics & Professional Conduct
COVERAGE BY SECTION
Section Title Questions
1 Licensing Requirements & DFPI Regulations 1–30
2 Fiduciary Duties & Standards of Care 31–60
3 Conservatorships & Guardianships 61–85
4 Trust Administration 86–110
5 Estate Administration (Probate) 111–135
6 Elder & Dependent Adult Financial Abuse 136–160
7 Accounting, Recordkeeping & Reporting 161–185
8 Ethics, Professional Conduct & Enforcement 186–200
,Section 1: Licensing Requirements & DFPI Regulations (Questions 1–30)
1. Which California agency regulates professional fiduciaries?
a) California Department of Justice
b) California State Bar
c) California Department of Social Services
d) Department of Financial Protection and Innovation (DFPI) – Professional
Fiduciaries Bureau
The Professional Fiduciaries Bureau (PFB) is a division of the Department of Financial
Protection and Innovation (DFPI). It licenses and regulates professional fiduciaries under
the Professional Fiduciaries Act, Business and Professions Code Division 3.5, Sections
6500 through 6592.
2. What is the minimum age to apply for a California professional fiduciary license?
a) 21 years old
b) 25 years old
c) 21 years old
d) 18 years old
Business and Professions Code Section 6531 requires that applicants be at least 18 years
of age. No maximum age limit applies.
3. What are the minimum education requirements for a California professional
fiduciary license?
a) High school diploma only
b) Bachelor's degree required
c) Master's degree in social work
d) Associate degree OR completion of a 40-hour pre-licensing course approved by
DFPI
*Business and Professions Code Section 6530 requires either an associate degree (or
higher) from an accredited institution OR successful completion of a 40-hour pre-licensing
course approved by DFPI. The course must cover fiduciary duties, accounting, ethics, and
relevant California laws.*
4. How many hours of experience are required for a California professional fiduciary
license?
a) 1,000 hours (6 months)
b) 2,000 hours (1 year)
,c) 2,500 hours (1.5 years)
d) 3,000 hours (2 years) of verifiable fiduciary experience
*Business and Professions Code Section 6530 requires 3,000 hours (2 years) of verifiable
experience providing fiduciary services. Experience must be within the 5 years immediately
preceding the application and must be supervised by a licensed professional fiduciary or
qualified professional (attorney, CPA, licensed guardian/conservator).*
5. What is the initial license fee for a California professional fiduciary?
a) $250
b) $350
c) $450
d) $530 (varies; check current DFPI fee schedule)
The initial license fee is set by DFPI and is subject to change. As of current regulations, the
fee is approximately $530. Applicants should check the DFPI website for the current fee
schedule before submitting an application.
6. What is the examination fee for the California professional fiduciary exam?
a) $150
b) $200
c) $250
d) $310
*The examination fee for the California Professional Fiduciary exam is $310. This fee is
separate from the initial license fee and is non-refundable. The exam is administered by
DFPI or its testing contractor.*
7. What is the minimum surety bond amount for a California professional fiduciary?
a) $10,000
b) $15,000
c) $20,000
d) $25,000 (or higher depending on asset value)
Business and Professions Code Section 6545 requires a surety bond of at least $25,000.
The bond amount may be increased based on the value of assets under management. The
bond protects clients from financial loss due to the fiduciary's fraud, dishonesty, or breach of
fiduciary duty.
, 8. How often must a California professional fiduciary renew their license?
a) Annually
b) Every 2 years
c) Every 3 years
d) Every 5 years
Professional fiduciary licenses expire every 2 years on the last day of the licensee's birth
month. Renewal applications and fees must be submitted before the expiration date. Late
renewals incur additional penalties.
9. How many continuing education (CE) hours are required per renewal period?
a) 15 hours
b) 20 hours
c) 25 hours
d) 30 hours
*California Code of Regulations Title 16, Division 23, Section 2390 requires 30 hours of
continuing education every 2-year renewal period. At least 3 hours must be in ethics.
Excess hours (up to 15) may be carried over to the next renewal period.*
10. What type of background check is required for a professional fiduciary license?
a) Credit check only
b) DMV driving record only
c) Employment verification only
d) Criminal history background check through DOJ and FBI (fingerprinting required)
Applicants must submit fingerprints for a criminal history background check through the
California Department of Justice (DOJ) and Federal Bureau of Investigation (FBI). Certain
criminal convictions may disqualify an applicant or require additional review.
11. Under the Professional Fiduciaries Act, which of the following is NOT a fiduciary
service?
a) Serving as a conservator of the estate
b) Serving as a trustee
DFPI Licensing Test – 200 Questions with Answers &
Explanations | Updated for 2026-2027
Professional Fiduciaries Act Business & Professions Code Division 3.5 Sections
6500-6592 | Conservatorships, Trust Administration, Estate Administration, Elder
Financial Abuse, Accounting, Ethics & Professional Conduct
COVERAGE BY SECTION
Section Title Questions
1 Licensing Requirements & DFPI Regulations 1–30
2 Fiduciary Duties & Standards of Care 31–60
3 Conservatorships & Guardianships 61–85
4 Trust Administration 86–110
5 Estate Administration (Probate) 111–135
6 Elder & Dependent Adult Financial Abuse 136–160
7 Accounting, Recordkeeping & Reporting 161–185
8 Ethics, Professional Conduct & Enforcement 186–200
,Section 1: Licensing Requirements & DFPI Regulations (Questions 1–30)
1. Which California agency regulates professional fiduciaries?
a) California Department of Justice
b) California State Bar
c) California Department of Social Services
d) Department of Financial Protection and Innovation (DFPI) – Professional
Fiduciaries Bureau
The Professional Fiduciaries Bureau (PFB) is a division of the Department of Financial
Protection and Innovation (DFPI). It licenses and regulates professional fiduciaries under
the Professional Fiduciaries Act, Business and Professions Code Division 3.5, Sections
6500 through 6592.
2. What is the minimum age to apply for a California professional fiduciary license?
a) 21 years old
b) 25 years old
c) 21 years old
d) 18 years old
Business and Professions Code Section 6531 requires that applicants be at least 18 years
of age. No maximum age limit applies.
3. What are the minimum education requirements for a California professional
fiduciary license?
a) High school diploma only
b) Bachelor's degree required
c) Master's degree in social work
d) Associate degree OR completion of a 40-hour pre-licensing course approved by
DFPI
*Business and Professions Code Section 6530 requires either an associate degree (or
higher) from an accredited institution OR successful completion of a 40-hour pre-licensing
course approved by DFPI. The course must cover fiduciary duties, accounting, ethics, and
relevant California laws.*
4. How many hours of experience are required for a California professional fiduciary
license?
a) 1,000 hours (6 months)
b) 2,000 hours (1 year)
,c) 2,500 hours (1.5 years)
d) 3,000 hours (2 years) of verifiable fiduciary experience
*Business and Professions Code Section 6530 requires 3,000 hours (2 years) of verifiable
experience providing fiduciary services. Experience must be within the 5 years immediately
preceding the application and must be supervised by a licensed professional fiduciary or
qualified professional (attorney, CPA, licensed guardian/conservator).*
5. What is the initial license fee for a California professional fiduciary?
a) $250
b) $350
c) $450
d) $530 (varies; check current DFPI fee schedule)
The initial license fee is set by DFPI and is subject to change. As of current regulations, the
fee is approximately $530. Applicants should check the DFPI website for the current fee
schedule before submitting an application.
6. What is the examination fee for the California professional fiduciary exam?
a) $150
b) $200
c) $250
d) $310
*The examination fee for the California Professional Fiduciary exam is $310. This fee is
separate from the initial license fee and is non-refundable. The exam is administered by
DFPI or its testing contractor.*
7. What is the minimum surety bond amount for a California professional fiduciary?
a) $10,000
b) $15,000
c) $20,000
d) $25,000 (or higher depending on asset value)
Business and Professions Code Section 6545 requires a surety bond of at least $25,000.
The bond amount may be increased based on the value of assets under management. The
bond protects clients from financial loss due to the fiduciary's fraud, dishonesty, or breach of
fiduciary duty.
, 8. How often must a California professional fiduciary renew their license?
a) Annually
b) Every 2 years
c) Every 3 years
d) Every 5 years
Professional fiduciary licenses expire every 2 years on the last day of the licensee's birth
month. Renewal applications and fees must be submitted before the expiration date. Late
renewals incur additional penalties.
9. How many continuing education (CE) hours are required per renewal period?
a) 15 hours
b) 20 hours
c) 25 hours
d) 30 hours
*California Code of Regulations Title 16, Division 23, Section 2390 requires 30 hours of
continuing education every 2-year renewal period. At least 3 hours must be in ethics.
Excess hours (up to 15) may be carried over to the next renewal period.*
10. What type of background check is required for a professional fiduciary license?
a) Credit check only
b) DMV driving record only
c) Employment verification only
d) Criminal history background check through DOJ and FBI (fingerprinting required)
Applicants must submit fingerprints for a criminal history background check through the
California Department of Justice (DOJ) and Federal Bureau of Investigation (FBI). Certain
criminal convictions may disqualify an applicant or require additional review.
11. Under the Professional Fiduciaries Act, which of the following is NOT a fiduciary
service?
a) Serving as a conservator of the estate
b) Serving as a trustee
