CDFA EXAM | NEWEST ACTUAL EXAM
COMPREHENSIVE QUESTIONS AND
VERIFIED ANSWERS GRADED A+ | 100%
PASS | 2025 UPDATE!
During which of the following events should an expert witness explain
the general procedures and assumptions used to generate the financial
projections?
a) Voir dire
b) Direct examination
c) Cross examination
d) Redirect examination - ✔✔✔ Correct Answer > b) Direct
examination
If Bob contributes $1,000 to his retirement debts plan and then quits or
is fired, what happens to his retirement plan?
a) Bob will forfeit the $1,000 if he is not vested.
b) Bob can take the $1,000.
c) Bob can take the $1,000 if he quit, but not if he was fired.
d) Bob can take the $1,000 as a distribution and pay no tax or penalty. -
✔✔✔ Correct Answer > b) Bob can take the $1,000.
,If a qualified retirement plan is being transferred to a non-participant
spouse pursuant to a QDRO, payment of a tax penalty can be avoided if
a distribution is taken by the:
a) Participant spouse within six years from the date the divorce
becomes final.
b) Non-participant spouse within six years from the date the divorce
becomes
final.
c) Participant spouse as a one-time opportunity.
d) Non-participant spouse as a one-time opportunity. - ✔✔✔ Correct
Answer > d) Non-participant spouse as a one-time opportunity.
Dave contributes $1,000 to his retirement plan and his employer
contributes $1,000 to the plan. If Dave quits and he is 60% vested, what
amount is his?
a) $1,000
b) $1,200
c) $1,600
d) $2,000 - ✔✔✔ Correct Answer > c) $1,600
,Alice is a CDFA® professional who lives in the state of Washington. She
has divorce clients in both Washington and Oregon. Which of the
following is true about Alice's practice?
a) Alice should be knowledgeable about federal divorce laws and
procedures.
b) Alice should be knowledgeable about Washington divorce laws and
procedures.
c) Alice should be knowledgeable about Washington and Oregon
divorce laws and procedures.
d) Alice should be knowledgeable about Washington and Oregon
finance laws and procedures. - ✔✔✔ Correct Answer > c) Alice
should be knowledgeable about Washington and Oregon divorce laws
and procedures.
What is the tax penalty for taking an early distribution from a
retirement plan?
a) 0%
b) 10%
c) 20%
d) 25% - ✔✔✔ Correct Answer > b) 10%
Joe and Barb, both age 52, are divorcing and have agreed to split Joe's
401(k) equally. The value of the 401(k) is $200,000. Barb had the plan
administrator transfer $80,000 to her IRA and distribute $20,000
, directly to Barb. Which of the following will occur as a result of this
distribution?
a) Barb will not have to pay ordinary income tax or a tax penalty.
b) Barb will not have to pay ordinary income tax, but she will pay a tax
penalty on the $20,000.
c) Barb will pay ordinary income tax on $20,000, but will not pay a tax
penalty.
d) Barb will pay ordinary income tax on $100,000, but will only pay a tax
penalty on $20,000. - ✔✔✔ Correct Answer > c) Barb will pay
ordinary income tax on $20,000, but will not pay a tax penalty.
Which of the following is NOT a true statement regarding survivor
benefits from a pension plan?
a) The QDRO needs to state that the spouses are taking the joint and
survivor
annuity option.
b) The plan administrator will assume that the spouses are taking the
joint and
survivor annuity option unless told otherwise.
c) The non-participant spouse can have his or her portion of the
pension set up as a separate account.
COMPREHENSIVE QUESTIONS AND
VERIFIED ANSWERS GRADED A+ | 100%
PASS | 2025 UPDATE!
During which of the following events should an expert witness explain
the general procedures and assumptions used to generate the financial
projections?
a) Voir dire
b) Direct examination
c) Cross examination
d) Redirect examination - ✔✔✔ Correct Answer > b) Direct
examination
If Bob contributes $1,000 to his retirement debts plan and then quits or
is fired, what happens to his retirement plan?
a) Bob will forfeit the $1,000 if he is not vested.
b) Bob can take the $1,000.
c) Bob can take the $1,000 if he quit, but not if he was fired.
d) Bob can take the $1,000 as a distribution and pay no tax or penalty. -
✔✔✔ Correct Answer > b) Bob can take the $1,000.
,If a qualified retirement plan is being transferred to a non-participant
spouse pursuant to a QDRO, payment of a tax penalty can be avoided if
a distribution is taken by the:
a) Participant spouse within six years from the date the divorce
becomes final.
b) Non-participant spouse within six years from the date the divorce
becomes
final.
c) Participant spouse as a one-time opportunity.
d) Non-participant spouse as a one-time opportunity. - ✔✔✔ Correct
Answer > d) Non-participant spouse as a one-time opportunity.
Dave contributes $1,000 to his retirement plan and his employer
contributes $1,000 to the plan. If Dave quits and he is 60% vested, what
amount is his?
a) $1,000
b) $1,200
c) $1,600
d) $2,000 - ✔✔✔ Correct Answer > c) $1,600
,Alice is a CDFA® professional who lives in the state of Washington. She
has divorce clients in both Washington and Oregon. Which of the
following is true about Alice's practice?
a) Alice should be knowledgeable about federal divorce laws and
procedures.
b) Alice should be knowledgeable about Washington divorce laws and
procedures.
c) Alice should be knowledgeable about Washington and Oregon
divorce laws and procedures.
d) Alice should be knowledgeable about Washington and Oregon
finance laws and procedures. - ✔✔✔ Correct Answer > c) Alice
should be knowledgeable about Washington and Oregon divorce laws
and procedures.
What is the tax penalty for taking an early distribution from a
retirement plan?
a) 0%
b) 10%
c) 20%
d) 25% - ✔✔✔ Correct Answer > b) 10%
Joe and Barb, both age 52, are divorcing and have agreed to split Joe's
401(k) equally. The value of the 401(k) is $200,000. Barb had the plan
administrator transfer $80,000 to her IRA and distribute $20,000
, directly to Barb. Which of the following will occur as a result of this
distribution?
a) Barb will not have to pay ordinary income tax or a tax penalty.
b) Barb will not have to pay ordinary income tax, but she will pay a tax
penalty on the $20,000.
c) Barb will pay ordinary income tax on $20,000, but will not pay a tax
penalty.
d) Barb will pay ordinary income tax on $100,000, but will only pay a tax
penalty on $20,000. - ✔✔✔ Correct Answer > c) Barb will pay
ordinary income tax on $20,000, but will not pay a tax penalty.
Which of the following is NOT a true statement regarding survivor
benefits from a pension plan?
a) The QDRO needs to state that the spouses are taking the joint and
survivor
annuity option.
b) The plan administrator will assume that the spouses are taking the
joint and
survivor annuity option unless told otherwise.
c) The non-participant spouse can have his or her portion of the
pension set up as a separate account.
