FA Magazine July/August 2021 - Page 62

CE ExAMS JULY / AUGUST 2021

From “ Bracing For Biden ,” page 16 1 . President Biden proposes limiting the tax benefit of itemized deductions to _____ for those whose income is more than $ 400,000 . A . 20 % B . 25 % C . 26 % D . 28 %
2 . Like-kind exchanges under Section 1031 of the Internal Revenue Code would be limited to _____ of gain per year per taxpayer . A . $ 500,000
C . $ 1 million
B . $ 750,000
D . $ 1.2 million
From “ Right Way Retirement ,” page 28
3 . When the personal aspects of retirement are not in order , how much time do people waste trying to figure that out ? A . Honeymoon phase
C . Ten years
B . First 30 days
D . First three to five years
4 . “ Show me your __________, and I ’ ll know what ’ s important to you .” A . Form ADV
C . Facebook page
B . Website
D . Investment policy
From “ Real Estate Shakes Off Covid-19 ,” page 53
5 . Investment experts recommend the average portfolio should have how much invested in real estate ? A . About 50 % B . Nothing , because real estate is too risky C . A portfolio can have 70 % to 80 % in real estate as long as interest rates are low D . About 5 % to 15 %
6 . Commercial , residential and warehouse real estate will recover from the downturn in what order ? A . It will happen evenly across all sectors . B . Residential and warehouse real estate will recover first and commercial will follow . C . There is no way to know because pressure on different sectors is unpredictable . D . Commercial will lead the way because of pent-up demand .
From “ FOMO , YOLO , Crypto , Oh No !,” page 55
7 . If you have to let clients play in a “ Vegas ” side account , what ’ s one good way to do it ? A . With cryptocurrencies . C . In a Roth IRA B . With real estate
D . None of the above
8 . Why is it actually worse for a client to succeed with a speculative play than to fail ? A . It will trigger tax . C . They will take fewer risks after that . B . They will take more risks . D . None of the above .
From “ A Whipsaw In The Making ?,” page 60
9 . What measure mentioned in the story is at the lowest level in two decades ? A . Free credit balances net of debt margin B . Debt as a percentage of GDP C . Both A and B D . Neither A nor B
10 . What measure mentioned in the story is at the highest level in the past two decades ? A . Free credit balances net of debt margin B . Debt as a percentage of GDP C . Both A and B D . Neither A nor B
From “ Bracing For Biden ,” page 16
1 . Among the proposals published in the U . S . Treasury ’ s “ Green Book ” on May 27 was that the U . S . corporate income tax rate would increase from _________. A . 21 % to 28 % C . 12 % to 18 % B . 16 % to 30 %
D . None of the above
2 . Like-kind exchanges under Section 1031 of the Internal Revenue Code would be limited to _____ of gain per year per taxpayer . A . $ 500,000
C . $ 1 million
B . $ 750,000
D . $ 1.2 million
From “ Right Way Retirement ,” page 28
3 . More than 80 % of what it takes to successfully retire has nothing to do with : A . Time B . Energy C . Money D . People
4 . “ Show me your __________, and I ’ ll know what ’ s important to you .” A . Form ADV
C . Facebook page
B . Website
D . Investment policy
From “ Real Estate Shakes Off Covid-19 ,” page 53
5 . According to those in the business , the commercial real estate market is : A . Robust now but probably going to slow down . B . Robust now and will continue to grow . C . Slow now but will begin to rebound later this year . D . Struggling now and will continue to do so .
6 . Commercial , residential and warehouse real estate will recover from the downturn in what order ? A . It will happen evenly across all sectors . B . Residential and warehouse real estate will recover first and commercial will follow . C . There is no way to know because pressure on different sectors is unpredictable . D . Commercial will lead the way because of pent-up demand .
From “ FOMO , YOLO , Crypto , Oh No !,” page 55 7 . What items of a speculative nature have people gotten wrapped up in ?
A . Cryptocurrencies C . NFTs
B . Meme stocks
D . All of the above
8 . Why is it actually worse for a client to succeed with a speculative play than to fail ? A . It will trigger tax . B . They will take more risks . C . They will take fewer risks after that . D . None of the above .
From “ A Whipsaw In The Making ?,” page 60
9 . What risks are lurking that economists might be missing ? A . Leverage B . Meme stocks C . Inflation D . None of the above .
10 . What measure mentioned in the story is at the highest level in the past two decades ? A . Free credit balances net of debt margin B . Debt as a percentage of GDP C . Both A and B D . Neither A nor B
58 | FINANCIAL ADVISoR MAGAzINE | JULY / AUGUST 2021 WWW . FA-MAG . CoM