AAMS Exam 2026 COMPREHENSIVE EXAM QUESTIONS
WITH DETAILED VERIFIED AND 100% CORRECT ANSWERS
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Terms in this set (80)
An employer plans to use corporate-owned life Variable life insurance
insurance to informally fund a nonqualified deferred
compensation agreement and wants flexibility
regarding investment choices. Which one of the
following types of life insurance should this employer
choose?
The latest economic reports have been gloomy, and contrarian
the stock market is in a protracted slump. Most of your
regular stock customers are selling out their positions. A
new client, Mr. Jones, sees these conditions as a buying
opportunity. You would define his investment
personality as
As of December 31, 20X1, Bob Larkin has the following $364,000
financial data:
Assets = $17,000 + $400,000 + $95,000 +$45,000 + $8,000 + $15,000 + $125,000 =
Bond fund $17,000 $705,000. Liabilities = $16,000 + $285,000 + $40,000 = $341,000, so net worth is
Residence$400,000 $364,000. Notice that auto notes of $16,000 are included in this calculation, but
Vested 401(k) plan$95,000 auto payments of $7,000 is a cash flow item and therefore not included.
Auto notes$16,000
Residence mortgage$285,000
Auto payments$7,000
Automobiles$45,000
Checking account$8,000
Utilities$4,000
CD$15,000
Stock$125,000
Home equity loan$40,000
What is Bob's net worth?
, For the year ending December 31, 20X2, Ted Jones has $2,700
the following financial information:
Income = $70,000 + $1,100 + $2,100 = $73,200. Expenses = $5,000 + $3,800 +
Salaries$70,000 $8,000 + $3,500 + $14,000 + $13,000 + $9,000 + $8,400 + $5,800 = $70,500, so
Auto payments$5,000 there is a surplus of $2,700
Insurance$3,800
Food$8,000
Credit card balance$10,000
Dividends$1,100
Utilities$3,500
Mortgage payments$14,000
Taxes$13,000
Clothing$9,000
Interest income$2,100
Checking account$4,000
Vacations$8,400
Donations$5,800
What is the surplus or (deficit) for Ted?
Which one of the following statements comparing the Legally, suitability disputes are often resolved in arbitration whereas fiduciary
suitability and fiduciary standards is correct? disputes are ultimately resolved in the courts.
Which one of the following types of distributions from a indirect rollover
qualified retirement plan may be subject to mandatory
20% withholding?
Which one of the following statements regarding a The employer's deduction is available in the year that a contribution is made.
qualified plan is correct?
All of the following should be agreed upon between specific investments.
the client and the investment professional when making
recommendations based on an investment policy
statement EXCEPT
Which of the following has a direct bearing on which the investor's time horizon
investments are appropriate for achieving a goal?
One purpose of an investment policy statement is to provide guidelines around which the portfolio is to be constructed and
managed.
Which of the following are elements of any investment D)
policy statement? I, II, III, and IV
I. the client's investment goal
II. suitable and unsuitable investment vehicles
III. an acceptable risk level
IV. a provision for periodic review
As the investment policy statement formulation moves A)
to policy implementation, the investment professional takes a leading role.
WITH DETAILED VERIFIED AND 100% CORRECT ANSWERS
BRAND NEW EXAM ALREADY GRADED A+!!
Leave the first rating
Save
Students also studied
ACAMS Certification Xinnix Final Exam Finance 320 F FIN
Teacher 115 terms Teacher 125 terms Teacher 57 terms Te
faithkadogo143 Preview Fredrick_Ochieng808 Preview sinwar6 Preview
Terms in this set (80)
An employer plans to use corporate-owned life Variable life insurance
insurance to informally fund a nonqualified deferred
compensation agreement and wants flexibility
regarding investment choices. Which one of the
following types of life insurance should this employer
choose?
The latest economic reports have been gloomy, and contrarian
the stock market is in a protracted slump. Most of your
regular stock customers are selling out their positions. A
new client, Mr. Jones, sees these conditions as a buying
opportunity. You would define his investment
personality as
As of December 31, 20X1, Bob Larkin has the following $364,000
financial data:
Assets = $17,000 + $400,000 + $95,000 +$45,000 + $8,000 + $15,000 + $125,000 =
Bond fund $17,000 $705,000. Liabilities = $16,000 + $285,000 + $40,000 = $341,000, so net worth is
Residence$400,000 $364,000. Notice that auto notes of $16,000 are included in this calculation, but
Vested 401(k) plan$95,000 auto payments of $7,000 is a cash flow item and therefore not included.
Auto notes$16,000
Residence mortgage$285,000
Auto payments$7,000
Automobiles$45,000
Checking account$8,000
Utilities$4,000
CD$15,000
Stock$125,000
Home equity loan$40,000
What is Bob's net worth?
, For the year ending December 31, 20X2, Ted Jones has $2,700
the following financial information:
Income = $70,000 + $1,100 + $2,100 = $73,200. Expenses = $5,000 + $3,800 +
Salaries$70,000 $8,000 + $3,500 + $14,000 + $13,000 + $9,000 + $8,400 + $5,800 = $70,500, so
Auto payments$5,000 there is a surplus of $2,700
Insurance$3,800
Food$8,000
Credit card balance$10,000
Dividends$1,100
Utilities$3,500
Mortgage payments$14,000
Taxes$13,000
Clothing$9,000
Interest income$2,100
Checking account$4,000
Vacations$8,400
Donations$5,800
What is the surplus or (deficit) for Ted?
Which one of the following statements comparing the Legally, suitability disputes are often resolved in arbitration whereas fiduciary
suitability and fiduciary standards is correct? disputes are ultimately resolved in the courts.
Which one of the following types of distributions from a indirect rollover
qualified retirement plan may be subject to mandatory
20% withholding?
Which one of the following statements regarding a The employer's deduction is available in the year that a contribution is made.
qualified plan is correct?
All of the following should be agreed upon between specific investments.
the client and the investment professional when making
recommendations based on an investment policy
statement EXCEPT
Which of the following has a direct bearing on which the investor's time horizon
investments are appropriate for achieving a goal?
One purpose of an investment policy statement is to provide guidelines around which the portfolio is to be constructed and
managed.
Which of the following are elements of any investment D)
policy statement? I, II, III, and IV
I. the client's investment goal
II. suitable and unsuitable investment vehicles
III. an acceptable risk level
IV. a provision for periodic review
As the investment policy statement formulation moves A)
to policy implementation, the investment professional takes a leading role.
