Professional Development
What is the SIE Exam?
This FINRA exam is often considered the first step for college students entering wealth management and brokerage.
What is an ETF?
This investment vehicle pools money from investors and trades like a stock throughout the day.
What is a Roth IRA?
This retirement account allows tax-free withdrawals in retirement through after tax contributions.
How do you calculate Tax?
Tax= Tax Base x Tax Rate
What is a will?
This legal document outlines how a person’s assets are distributed after death.
What is the CFP® certification?
CERTIFIED FINANCIAL PLANNER.
What is the Sharpe Ratio?
This ratio measures a portfolio’s return earned above the risk-free rate relative to volatility.
What are catch-up contributions?
Employees age 50 and older are eligible for these additional retirement plan contributions.
What form reports wages, tax withholding, and compensation from an employer?
W-2
What is a Medical Power of Attorney?
This estate planning document allows someone to make healthcare decisions if another person becomes incapacitated.
What does RIA stand for?
Registered Investment Advisor
What relationship do bond prices and interest rates have?
Inverse relationship
What retirement account is commonly used by self-employed individuals and small business owners with no employees.
Solo 401(k)
Passive losses generally can only be offset by what type of income?
Passive Income
What is Joint Tenancy with Right of Survivorship?
Assets held in this type of ownership automatically pass to the surviving owner outside probate.
What are the 2 pathways to meet to the CFP experience requirement?
Standard and Apprenticeship.
What is diversification?
This investment strategy involves spreading investments across asset classes to reduce unsystematic risk.
At what age are required minimum distributions required to begin?
73 or the year after turning 73
What is a progressive tax system?
This type of tax system increases tax rates as taxable income increases.
What is a Special Needs Trust (SNT)?
This type of trust is commonly used to help protect assets for a beneficiary with disabilities without disqualifying government benefits.
What are the 3 core values of CFPS
Community, Professional Development, and Networking
What are the 5 factors?
Market Risk
Size
Value
Probability
Investment
What tax strategy involves contributing after-tax dollars into a 401(k) and converting them into Roth assets?
Mega Backdoor Roth strategy
What tax-advantaged account allows triple tax benefits when used for qualified medical expenses?
HSA ( Health Savings Account)
What is an Intentionally Defective Grantor Trust (IDGT)?
This estate planning strategy removes appreciating assets from a taxable estate while allowing future growth to pass to heirs potentially gift-tax free.