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CDFA Exam Study Materials EXAM (updated
2026) Questions & Answers | With 100% Correct
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Terms in this set (266)
An employee who has at least five 5-year cliff vesting
years of service must have a non-
forfeitable right to 100% of the
employee's accrued benefit [IRC
§411(a)(2)(A)].
An employee who has completed at 3- to 7-year vesting (7-year graded vesting)
least three years of service must
have a non-forfeitable right to at
least the following percentages of
his or her accrued benefit: 20% after
three years of service, 40% after four
years of service, 60% after five years
of service, 80% after six years of
service, and 100% after seven years
of service [IRC §411(a)(2)(B)].
3-year cliff vesting or 6-year graded Top-heavy plans or matching contributions
vesting. typically use _________ vesting
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Schedule ____ may help identify Schedule A: Itemized Deductions
unlisted assets or sources of income.
For example, property taxes may
reveal real property or a boat that
one spouse does not know exists;
and gambling losses would reveal
that there are gambling winnings.
Schedule ____ identifies the assets and Schedule B: Interest and Ordinary Dividends
investments generating interest and
dividends.
Schedule ___ may be a place to hide Schedule C: Profit or Loss from Business
assets or income. For example,
depreciation expense is not a cash
outflow and should sometimes be
added back to net income to
determine actual income. The
depreciation schedule may also
reveal additional assets in the
business.
Schedule _______ is used to report Schedule D: Capital Gains and Losses
gains and losses from the sale of
stocks, bonds, and real estate.
Schedule _____ is used to report Schedule E: Supplemental Income and Loss
income from rental properties,
royalties, partnerships, and S-
corporation income. Depreciation
would be something to review.
Form _________ is used to report Form 1065
partnership income.
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Form __________ is used to report Form 1120
corporate income
Form ___________ is used to report Form 1120S
corporate income for S corporations.
Schedule ____________________ includes Schedule 1: Additional Income and Adjustments to
additional income, such as capital Income
gains, unemployment compensation,
prize or award money, and gambling
winnings. It also includes deductions
such as student loan interest, self-
employment tax, and educator
expenses.
Schedule _________ details the Schedule 2 Tax
alternative minimum tax (ATM) or an
excess advance premium tax credit
repayment.
Schedule _________ is used to claim a Schedule 3 Nonrefundable Credits
nonrefundable credit other than the
child tax credit or the credit for other
dependents, such as the foreign tax
credit, education credits, or general
business credit.
Schedule ___________ reports other Schedule 4 Other Taxes
taxes, such as self-employment tax,
household employment taxes,
additional tax on IRAs or other
qualified retirement plans and tax-
favored accounts.
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Schedule _________ is used to claim a Schedule 5: Other Payments and Refundable
refundable credit other than the Credits
earned income credit, American
opportunity credit, or additional
child tax credit.
Form _________ reports deductions for Form 4562
depreciation and amortization as
well as provides information on the
business/investment use of
automobiles and other listed
property.
Form ___________ reports the sale or Form 4797
exchange of business property and
the computation of recapture
amounts under sections 179 and
280F(b)(2).
An __________________ is a person who is Accountant
qualified to keep, audit, and inspect
the financial records of individuals or
business concerns and prepares
financial and tax reports.
An ___________ is a person whose work Actuary
is to calculate statistically risks,
premiums, and life expectancies for
insurance and pension plans.
An ________________ person who is legally Attorney
qualified and licensed to represent a
person in a legal matter, such as a
transaction or lawsuit.
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CDFA Exam Study Materials EXAM (updated
2026) Questions & Answers | With 100% Correct
Answers graded A+ Guaranteed Success!!
Save Groups
Terms in this set (266)
An employee who has at least five 5-year cliff vesting
years of service must have a non-
forfeitable right to 100% of the
employee's accrued benefit [IRC
§411(a)(2)(A)].
An employee who has completed at 3- to 7-year vesting (7-year graded vesting)
least three years of service must
have a non-forfeitable right to at
least the following percentages of
his or her accrued benefit: 20% after
three years of service, 40% after four
years of service, 60% after five years
of service, 80% after six years of
service, and 100% after seven years
of service [IRC §411(a)(2)(B)].
3-year cliff vesting or 6-year graded Top-heavy plans or matching contributions
vesting. typically use _________ vesting
https://quizlet.com/1176664753/cdfa-exam-study-materials-exam-updated-2026-questions-answers-with-100-correct-answers-graded-a-guaranteed-s… 1/51
,5/5/26, 12:39 PM CDFA Exam Study Materials EXAM (updated 2026) Questions & Answers | With 100% Correct Answers graded A+ Guaranteed Su…
Schedule ____ may help identify Schedule A: Itemized Deductions
unlisted assets or sources of income.
For example, property taxes may
reveal real property or a boat that
one spouse does not know exists;
and gambling losses would reveal
that there are gambling winnings.
Schedule ____ identifies the assets and Schedule B: Interest and Ordinary Dividends
investments generating interest and
dividends.
Schedule ___ may be a place to hide Schedule C: Profit or Loss from Business
assets or income. For example,
depreciation expense is not a cash
outflow and should sometimes be
added back to net income to
determine actual income. The
depreciation schedule may also
reveal additional assets in the
business.
Schedule _______ is used to report Schedule D: Capital Gains and Losses
gains and losses from the sale of
stocks, bonds, and real estate.
Schedule _____ is used to report Schedule E: Supplemental Income and Loss
income from rental properties,
royalties, partnerships, and S-
corporation income. Depreciation
would be something to review.
Form _________ is used to report Form 1065
partnership income.
https://quizlet.com/1176664753/cdfa-exam-study-materials-exam-updated-2026-questions-answers-with-100-correct-answers-graded-a-guaranteed-s… 2/51
,5/5/26, 12:39 PM CDFA Exam Study Materials EXAM (updated 2026) Questions & Answers | With 100% Correct Answers graded A+ Guaranteed Su…
Form __________ is used to report Form 1120
corporate income
Form ___________ is used to report Form 1120S
corporate income for S corporations.
Schedule ____________________ includes Schedule 1: Additional Income and Adjustments to
additional income, such as capital Income
gains, unemployment compensation,
prize or award money, and gambling
winnings. It also includes deductions
such as student loan interest, self-
employment tax, and educator
expenses.
Schedule _________ details the Schedule 2 Tax
alternative minimum tax (ATM) or an
excess advance premium tax credit
repayment.
Schedule _________ is used to claim a Schedule 3 Nonrefundable Credits
nonrefundable credit other than the
child tax credit or the credit for other
dependents, such as the foreign tax
credit, education credits, or general
business credit.
Schedule ___________ reports other Schedule 4 Other Taxes
taxes, such as self-employment tax,
household employment taxes,
additional tax on IRAs or other
qualified retirement plans and tax-
favored accounts.
https://quizlet.com/1176664753/cdfa-exam-study-materials-exam-updated-2026-questions-answers-with-100-correct-answers-graded-a-guaranteed-s… 3/51
, 5/5/26, 12:39 PM CDFA Exam Study Materials EXAM (updated 2026) Questions & Answers | With 100% Correct Answers graded A+ Guaranteed Su…
Schedule _________ is used to claim a Schedule 5: Other Payments and Refundable
refundable credit other than the Credits
earned income credit, American
opportunity credit, or additional
child tax credit.
Form _________ reports deductions for Form 4562
depreciation and amortization as
well as provides information on the
business/investment use of
automobiles and other listed
property.
Form ___________ reports the sale or Form 4797
exchange of business property and
the computation of recapture
amounts under sections 179 and
280F(b)(2).
An __________________ is a person who is Accountant
qualified to keep, audit, and inspect
the financial records of individuals or
business concerns and prepares
financial and tax reports.
An ___________ is a person whose work Actuary
is to calculate statistically risks,
premiums, and life expectancies for
insurance and pension plans.
An ________________ person who is legally Attorney
qualified and licensed to represent a
person in a legal matter, such as a
transaction or lawsuit.
https://quizlet.com/1176664753/cdfa-exam-study-materials-exam-updated-2026-questions-answers-with-100-correct-answers-graded-a-guaranteed-s… 4/51
