CSI AFP-Exam-1 問題集 : Applied Financial Planning Certification Exam 1 (AFP)

A client wants a policy that pays a lump sum if she is diagnosed with a covered serious illness and survives the required waiting period. Which product matches this need?

• A. Disability insurance.
• B. Critical illness insurance.
• C. Long-term care insurance.
• D. Accidental death insurance.

A retiree receives income-tested benefits and needs occasional withdrawals for vacations and home repairs.
Which account is generally most efficient for withdrawals that do not increase taxable income?

• A. RRSP.
• B. TFSA.
• C. RRIF.
• D. Non-registered interest-bearing GIC.

Richard reviewed his divorce settlement from his partner Alex with his advisor Maria. He is deciding between providing a lump sum spousal support payment of $60,000 or making monthly payments. If Richard's income is $200,000 and Alex's income is $40,000, what should Maria advise Richard about the tax implications for both Richard and Alex in regard to the lump sum payment?

• A. Richard will pay taxes on the entirety of the $200,000 and Alex will pay taxes only on his earned income of $40,000.
• B. Richard will deduct half of the lump-sum support payment and pay taxes on the remaining $170,000 of income and Alex will claim the other half of the lump-sum support payment in addition to his earned Income of $40,000.
• C. Richard will deduct the payment and pay taxes on the remaining $140,000 of income and Alex will pay taxes only on his earned income of $40,000.
• D. Richard will deduct the payment and pay taxes on the remaining $140,000 of income, and Alex will pay taxes on the lump-sum payment of $60,000.

Henri and Jessica have recently moved in together and Henri has been helping Jessica with her investments.
Jessica names Henri trading authority on her TFSA. Henri calls their financial planner requesting to make Jessica's TFSA contribution for this year but first requests the overall balance in Jessica's bank accounts (TFSA, high yield savings, chequing) to know if this is possible. What action would be most appropriate for their financial planner to take?

• A. Advise Henri that Jessica should contact the financial planner directly.
• B. Allow Henri to make the contribution from his account, but do not disclose the balance.
• C. Recommend they establish an enduring power of attorney over Jessica.
• D. Provide Henri with the balance since he has authority over the account.

Sarah Jones is an incorporated owner of a successful manufacturing company. She currently has a large month to month cash flow surplus. This is expected to continue until she retires in seven years. Her personal mortgage is up for renewal. She needs to borrow $50,000 so that she can replace a piece of equipment that is needed in the manufacturing process. She would like a solution that results in paying the lowest interest cost over the life of the loan. Which loan product should the financial planner recommend to Sarah? Assume monthly compounding for all products and no pre-payment options.

• A. Refinanced personal mortgage with an interest rate of 1.35% and a 25-year amortization period.
• B. Corporate mortgage with an interest rate of 2.25% and a 25-year amortization period.
• C. Home equity line of credit with an interest rate of 3.75% and a 7-year interest-only payment with an end-of-term balloon payment.
• D. Secured corporate loan with an interest rate of 5.25% and a 5-year amortization period.