CDFA NEW EXAM WITH COMPLETE SOLUTIONS 100% CORRECT
CDFA does not mean a - ANSWER Lawyer, appraiser business valuator, retirement
account value, actuary, Accountant, CP Accountant, mediator, etc.
Pro Se Divorce - ANSWER Someone going through divorce decides not to take help of
an attorney.
What 9 states recognize common law marriage - ANSWER Alabama, Colorado,
Kansas, Rhode Island, South Carolina, Iowa, Montana, Oklahoma, Pennsylvania.
States with grandfathered common-law marriage - ANSWER Georgia Idaho Ohio
Oklahoma, Texas and District of Columbia
Mediation- ANSWER A form of resolution where the third party acts independently with
a couple to help resolve a divorce settlement
Positional bargaining- ANSWER Begins with the solution. One party states a solution,
and the other party offers that solution, after which both sides make counter-offers until
there is a solution satisfactory to both
Interest based bargaining - ANSWER It starts with each party educating the others
about their interest the parties will work together until they find solutions that will allow
both parties to meet their needs
Arbitration - ANSWER The power is totally with the arbitrator. Less costly than a court
trial
Collaborative divorce - ANSWER A team approach to divorce
One major difference between collaborative divorce and mediation - ANSWER In
mediation, there is one neutral third-party who helps the disputing parties try to settle
the case. And collaborative divorce all parties are present and caboodle to settlement
,as their sole agenda
Discovery - ANSWER The process of gathering information about the nature, scope,
and credibility of the opposing parties claim
Formal and informal - ANSWER The two forms of discovery
Depositions - ANSWER Sworn testimony of a witness taken out of court with lawyers
for each party present
Interrogatories - ANSWER A set of written questions exchanged with the opposing
party
Request for production of documents - ANSWER Compels the other side and third
parties to produce requested documents to shed light on relevant issues in a case
Informal discovery - ANSWER Can be as simple as one attorney calling the other
attorney and saying send me everything you have on the Smith case including financial
affidavits
Appeals - ANSWER If one of the divorce party strongly opposes the judge's decision he
or she can do this
Error of law or abuse of discretion - ANSWER Two reasons that you can file for an
appeal
Failure to file or amend documents - ANSWER One problem divorced people are often
having is finding out that certain documents, after the divorce has been filed, have not
been amended or filed
26 - ANSWER If you are paid biweekly you receive this many paychecks
, 24 - ANSWER If you're paid semi monthly you receive this many paychecks
$106,800 - ANSWER Maximum amount subject to Social Security taxes
4.2% - ANSWER Tax rate of the Social Security taxes
$374 - ANSWER $106,800 * 4.2%\\\\12
Average monthly social security contribution
Voir dire - ANSWER You'll be asked questions designed to disqualify you by showing
that you are not an expert or to show the judge why less weight should be placed on
your testimony
1.45% - ANSWER Current Medicare tax rate
100% - QUESTION How much of the income is taxable to Medicare
401K contribution - QUESTION Cannot be counted on the financial affidavit because
it's a voluntary contribution
0.0833 - QUESTION If you receive an annual one time bonus it should be multiplied by
____ to obtain it's monthly income
Interrogatories - QUESTION A CDFA professional is not trained to interview client to
complete answers to
True - ANSWER A judge can reject a settlement agreement even if both parties agree
true or false
False - ANSWER CDFA professionals can negotiate a settlement true or false
CDFA does not mean a - ANSWER Lawyer, appraiser business valuator, retirement
account value, actuary, Accountant, CP Accountant, mediator, etc.
Pro Se Divorce - ANSWER Someone going through divorce decides not to take help of
an attorney.
What 9 states recognize common law marriage - ANSWER Alabama, Colorado,
Kansas, Rhode Island, South Carolina, Iowa, Montana, Oklahoma, Pennsylvania.
States with grandfathered common-law marriage - ANSWER Georgia Idaho Ohio
Oklahoma, Texas and District of Columbia
Mediation- ANSWER A form of resolution where the third party acts independently with
a couple to help resolve a divorce settlement
Positional bargaining- ANSWER Begins with the solution. One party states a solution,
and the other party offers that solution, after which both sides make counter-offers until
there is a solution satisfactory to both
Interest based bargaining - ANSWER It starts with each party educating the others
about their interest the parties will work together until they find solutions that will allow
both parties to meet their needs
Arbitration - ANSWER The power is totally with the arbitrator. Less costly than a court
trial
Collaborative divorce - ANSWER A team approach to divorce
One major difference between collaborative divorce and mediation - ANSWER In
mediation, there is one neutral third-party who helps the disputing parties try to settle
the case. And collaborative divorce all parties are present and caboodle to settlement
,as their sole agenda
Discovery - ANSWER The process of gathering information about the nature, scope,
and credibility of the opposing parties claim
Formal and informal - ANSWER The two forms of discovery
Depositions - ANSWER Sworn testimony of a witness taken out of court with lawyers
for each party present
Interrogatories - ANSWER A set of written questions exchanged with the opposing
party
Request for production of documents - ANSWER Compels the other side and third
parties to produce requested documents to shed light on relevant issues in a case
Informal discovery - ANSWER Can be as simple as one attorney calling the other
attorney and saying send me everything you have on the Smith case including financial
affidavits
Appeals - ANSWER If one of the divorce party strongly opposes the judge's decision he
or she can do this
Error of law or abuse of discretion - ANSWER Two reasons that you can file for an
appeal
Failure to file or amend documents - ANSWER One problem divorced people are often
having is finding out that certain documents, after the divorce has been filed, have not
been amended or filed
26 - ANSWER If you are paid biweekly you receive this many paychecks
, 24 - ANSWER If you're paid semi monthly you receive this many paychecks
$106,800 - ANSWER Maximum amount subject to Social Security taxes
4.2% - ANSWER Tax rate of the Social Security taxes
$374 - ANSWER $106,800 * 4.2%\\\\12
Average monthly social security contribution
Voir dire - ANSWER You'll be asked questions designed to disqualify you by showing
that you are not an expert or to show the judge why less weight should be placed on
your testimony
1.45% - ANSWER Current Medicare tax rate
100% - QUESTION How much of the income is taxable to Medicare
401K contribution - QUESTION Cannot be counted on the financial affidavit because
it's a voluntary contribution
0.0833 - QUESTION If you receive an annual one time bonus it should be multiplied by
____ to obtain it's monthly income
Interrogatories - QUESTION A CDFA professional is not trained to interview client to
complete answers to
True - ANSWER A judge can reject a settlement agreement even if both parties agree
true or false
False - ANSWER CDFA professionals can negotiate a settlement true or false
