3/27/25, 8:56 CRPC YOU GOT THIS STUDY CARDS - MEMORIZE AND BE FAMILIAR WITH THESE AND YOU GOT THIS. FRIGGEN 110%
AM P…
CRPC YOU GOT THIS STUDY CARDS - MEMORIZE AND BE FAMILIAR WITH
THESE AND YOU GOT THIS. FRIGGEN 110% PASSING SCORE.
Terms in this set (267)
Payments received in the years BEFORE
you obtain FRA will be reduced $____for
every $______earned above the earnings
cap.
Old-age benefits of Social Security Benefits paid to persons in the years prior to attaining full retirement age are
recipients may be reduced if the client reduced by $1 for every $2 earned over the limit.
earns income from wages and salary
during retirement prior to Social Security's
full retirement age. By how much are
the benefits reduced?
How much tax exempt interest is included ALL Tax-exempt interest is included in the computation of the taxation of SS benefits.
in SS?
When seeking investments that have the The absolute lowest one! 0.5
least amount of risk, what beta do you
choose?
It measures a securities risk adjusted return. It allows you to compare 2 securities
What does the Coefficient of Variation together, so you DIVIDE.
measure? How do you calculate it?
DEVIATION DIVIDED BY THE EXPECTED RETURN.
What kind of money comes out of a Roth Contribution amounts always come out of a Roth IRA account first, and then
IRA distribution first? conversion amounts, if any.
When can a distribution be made from a Employee separates from service, attains age 59 1⁄2, becomes disabled or dies, or
TSA? 4 categories! qualifies under hardship rules.
Remains effective after the principal becomes incapacitated. NON Spring. NOT
Non spring POA remains effective when?
springing into action until AFTER.
Becomes effective when the principal becomes incompetent or incapacitated.
Springing POA remains effective when?
SPRINGING. Springing into action WHEN it happens.
Covers hospital charges but patient must pay for all costs in a hospital beyond 150
What does Medicare Part A cover and days.
how do you pay for it?
Provided at no charge. No premium.
Covers physician services
What does Medicare Part B cover and
how do you pay for it?
Premium charge! If you're eligible for Part A, you've got Part B, BUT FOR A CHARGE!
What makes you eligible for Medicare Over 65 and in a covered occupation meaning you're getting social security.
coverage?
What situations are exempt from the 10% Distributions because of death and annuitized payments based on an individual's
penalty on qualified plan distributions remaining life expectancy.
made before age 59 ½?
6 quarters of coverage (so about 2 years paying into social security) What would you
What does "Currently" insured mean and
qualify for? ONLY 2 THINGS! Survivor's benefit for dependent child and Lump-
what would you qualify for?
sum
death benefit spouse or child. Your spouse doesn't get anything!
1/
9
, 3/27/25, 8:56 CRPC YOU GOT THIS STUDY CARDS - MEMORIZE AND BE FAMILIAR WITH THESE AND YOU GOT THIS. FRIGGEN 110%
AM P…
40 quarters of coverage (10 YEARS paying into social security!) What would you
What does "Fully" insured mean and what qualify for? Everything. Survivor's benefit for your dependent parent who is age
would you qualify for? 62 or older. Survivor's benefit for Maxine's spouse or former spouse who is age 60
or older. Dependent child benefits.
How are net LONG term capital gains Subject to a 0% tax rate if the taxpayer is in a 10% or 15% marginal income tax bracket.
taxed?
How are net SHORT term capital gains Subject to a taxpayer's ordinary income tax rate.
taxed?
What's the long term gain rate applied to A maximum rate of 28% applies to long-term gain on collectibles.
long term collectibles?
Nonperiodic distributions from an annuity LIFO. It is first considered a taxable interest payment and then a tax-free return of
contract prior to the annuity start date? principal. Last in, first out.
Calculating the exclusion ratio for a fixed The investment in the annuity contract is divided by the total expected return.
annuity?
The shareholder is treated as if he or she received a cash dividend equal to the
What is the tax treatment for a fair market value of the shares purchased under the plan. You literally bought more
shareholder participating in a common stock with the dividends. The dividend you got is treated like cash. The dividend is
stock's dividend reinvestment program? cash
and you used that cash to buy more stock. The fair market value of the shares
purchased is generally taxed at a 15% or 20% rate.
What is the valuation date for gifts? The valuation date for gifts is when the transfer is completed!
Joint tenancy with right of survivorship A husband and a wife.
(JTWROS), tenancy by the entirety (TBE),
and community property (CP) are all forms
of co-ownership that can be used by
who only?
Joint tenants or tenants in common are Non spouses. Husband and wife can't use these.
forms of ownership that can be used by
who only?
Do rights of survivorship property Yes.
bypasses probate?
Property held as a tenant in common or in Bypass probate.
which the decedent solely owned his
interest does not what?
The basis that is used in determining gains LIFO, Average Cost, Specific Identification method
from mutual funds sales may be
calculated by using what three
methods?
In a community property state, a person's Got it?
earnings from their job subsequent (after)
to the date of their marriage will be
considered community property. We
get married, my earnings then become
yours as well. We "share it". Community
property. If I own property before I met
you, that's still just mine.
When gathering data during the Dollar amounts and established time frames.
retirement planning process, financial
goals should be quantified in what two
ways?
2/
9
AM P…
CRPC YOU GOT THIS STUDY CARDS - MEMORIZE AND BE FAMILIAR WITH
THESE AND YOU GOT THIS. FRIGGEN 110% PASSING SCORE.
Terms in this set (267)
Payments received in the years BEFORE
you obtain FRA will be reduced $____for
every $______earned above the earnings
cap.
Old-age benefits of Social Security Benefits paid to persons in the years prior to attaining full retirement age are
recipients may be reduced if the client reduced by $1 for every $2 earned over the limit.
earns income from wages and salary
during retirement prior to Social Security's
full retirement age. By how much are
the benefits reduced?
How much tax exempt interest is included ALL Tax-exempt interest is included in the computation of the taxation of SS benefits.
in SS?
When seeking investments that have the The absolute lowest one! 0.5
least amount of risk, what beta do you
choose?
It measures a securities risk adjusted return. It allows you to compare 2 securities
What does the Coefficient of Variation together, so you DIVIDE.
measure? How do you calculate it?
DEVIATION DIVIDED BY THE EXPECTED RETURN.
What kind of money comes out of a Roth Contribution amounts always come out of a Roth IRA account first, and then
IRA distribution first? conversion amounts, if any.
When can a distribution be made from a Employee separates from service, attains age 59 1⁄2, becomes disabled or dies, or
TSA? 4 categories! qualifies under hardship rules.
Remains effective after the principal becomes incapacitated. NON Spring. NOT
Non spring POA remains effective when?
springing into action until AFTER.
Becomes effective when the principal becomes incompetent or incapacitated.
Springing POA remains effective when?
SPRINGING. Springing into action WHEN it happens.
Covers hospital charges but patient must pay for all costs in a hospital beyond 150
What does Medicare Part A cover and days.
how do you pay for it?
Provided at no charge. No premium.
Covers physician services
What does Medicare Part B cover and
how do you pay for it?
Premium charge! If you're eligible for Part A, you've got Part B, BUT FOR A CHARGE!
What makes you eligible for Medicare Over 65 and in a covered occupation meaning you're getting social security.
coverage?
What situations are exempt from the 10% Distributions because of death and annuitized payments based on an individual's
penalty on qualified plan distributions remaining life expectancy.
made before age 59 ½?
6 quarters of coverage (so about 2 years paying into social security) What would you
What does "Currently" insured mean and
qualify for? ONLY 2 THINGS! Survivor's benefit for dependent child and Lump-
what would you qualify for?
sum
death benefit spouse or child. Your spouse doesn't get anything!
1/
9
, 3/27/25, 8:56 CRPC YOU GOT THIS STUDY CARDS - MEMORIZE AND BE FAMILIAR WITH THESE AND YOU GOT THIS. FRIGGEN 110%
AM P…
40 quarters of coverage (10 YEARS paying into social security!) What would you
What does "Fully" insured mean and what qualify for? Everything. Survivor's benefit for your dependent parent who is age
would you qualify for? 62 or older. Survivor's benefit for Maxine's spouse or former spouse who is age 60
or older. Dependent child benefits.
How are net LONG term capital gains Subject to a 0% tax rate if the taxpayer is in a 10% or 15% marginal income tax bracket.
taxed?
How are net SHORT term capital gains Subject to a taxpayer's ordinary income tax rate.
taxed?
What's the long term gain rate applied to A maximum rate of 28% applies to long-term gain on collectibles.
long term collectibles?
Nonperiodic distributions from an annuity LIFO. It is first considered a taxable interest payment and then a tax-free return of
contract prior to the annuity start date? principal. Last in, first out.
Calculating the exclusion ratio for a fixed The investment in the annuity contract is divided by the total expected return.
annuity?
The shareholder is treated as if he or she received a cash dividend equal to the
What is the tax treatment for a fair market value of the shares purchased under the plan. You literally bought more
shareholder participating in a common stock with the dividends. The dividend you got is treated like cash. The dividend is
stock's dividend reinvestment program? cash
and you used that cash to buy more stock. The fair market value of the shares
purchased is generally taxed at a 15% or 20% rate.
What is the valuation date for gifts? The valuation date for gifts is when the transfer is completed!
Joint tenancy with right of survivorship A husband and a wife.
(JTWROS), tenancy by the entirety (TBE),
and community property (CP) are all forms
of co-ownership that can be used by
who only?
Joint tenants or tenants in common are Non spouses. Husband and wife can't use these.
forms of ownership that can be used by
who only?
Do rights of survivorship property Yes.
bypasses probate?
Property held as a tenant in common or in Bypass probate.
which the decedent solely owned his
interest does not what?
The basis that is used in determining gains LIFO, Average Cost, Specific Identification method
from mutual funds sales may be
calculated by using what three
methods?
In a community property state, a person's Got it?
earnings from their job subsequent (after)
to the date of their marriage will be
considered community property. We
get married, my earnings then become
yours as well. We "share it". Community
property. If I own property before I met
you, that's still just mine.
When gathering data during the Dollar amounts and established time frames.
retirement planning process, financial
goals should be quantified in what two
ways?
2/
9
