CRPC Practice Exam 2026
Exam Questions and Answers |
A+ Score Assured
Mary Goodwin's financial situation is as follows:
Cash/cash equivalents $15,000
Short-term debts $8,000
Long-term debts $133,000
Tax expense $7,000
Auto note payments $4,000
Invested assets $60,000
,Use assets $188,000
What is her net worth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000 - ANSWER ✔✔C
At the end of last year, Bill Greer has the following financial information:
Salaries$70,000Auto payments$5,000Insurance
payments$3,800Food$8,000Credit card
balance$10,000Dividends$1,100Utilities$3,500Mortgage
payments$14,000Taxes$13,000Clothing$9,000Interest
income$2,100Checking account$4,000Vacations$8,400Donations$5,800
What is the cash flow surplus or (deficit) for Bill?
A)
$2,700
B)
$6,500
C)
,$10,700
D)
($500) - ANSWER ✔✔A
Which of the following are correct statements about income replacement
percentages?
I.Income replacement percentages are typically much higher for those
with higher preretirement incomes.
II.Income replacement percentages vary between low-income and high-
income retirees.
III.Income replacement ratios should not be used as the only basis for
planning.
IV.Income replacement ratios are useful for younger clients as a guide to
their long-range planning and investing.
A)
I and IV
B)
I and II
C)
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, II and III
D)
II, III, and IV - ANSWER ✔✔D
If Tom and Jenny want to save a fixed amount annually to accumulate $2
million by their retirement date in 25 years (rather than an amount that
grows with inflation each year), what level annual end-of-year savings
amount will they need to deposit each year, assuming their savings earn
7% annually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130 - ANSWER ✔✔B
Bill and Lisa Hahn have determined that they will need a monthly income
of $6,000 during retirement. They expect to receive Social Security
Exam Questions and Answers |
A+ Score Assured
Mary Goodwin's financial situation is as follows:
Cash/cash equivalents $15,000
Short-term debts $8,000
Long-term debts $133,000
Tax expense $7,000
Auto note payments $4,000
Invested assets $60,000
,Use assets $188,000
What is her net worth?
A)$111,000
B)$137,000
C)$122,000
D)$263,000 - ANSWER ✔✔C
At the end of last year, Bill Greer has the following financial information:
Salaries$70,000Auto payments$5,000Insurance
payments$3,800Food$8,000Credit card
balance$10,000Dividends$1,100Utilities$3,500Mortgage
payments$14,000Taxes$13,000Clothing$9,000Interest
income$2,100Checking account$4,000Vacations$8,400Donations$5,800
What is the cash flow surplus or (deficit) for Bill?
A)
$2,700
B)
$6,500
C)
,$10,700
D)
($500) - ANSWER ✔✔A
Which of the following are correct statements about income replacement
percentages?
I.Income replacement percentages are typically much higher for those
with higher preretirement incomes.
II.Income replacement percentages vary between low-income and high-
income retirees.
III.Income replacement ratios should not be used as the only basis for
planning.
IV.Income replacement ratios are useful for younger clients as a guide to
their long-range planning and investing.
A)
I and IV
B)
I and II
C)
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, II and III
D)
II, III, and IV - ANSWER ✔✔D
If Tom and Jenny want to save a fixed amount annually to accumulate $2
million by their retirement date in 25 years (rather than an amount that
grows with inflation each year), what level annual end-of-year savings
amount will they need to deposit each year, assuming their savings earn
7% annually?
A)
$55,692
B)
$31,621
C)
$29,552
D)
$54,130 - ANSWER ✔✔B
Bill and Lisa Hahn have determined that they will need a monthly income
of $6,000 during retirement. They expect to receive Social Security
