From “ The Shifting Giving Landscape ,” page 32

1 . What is not affecting the charitable giving landscape ? A . The after-effects of Covid-19 B . The great wealth transfer C . Tax law changes D . All these things are affecting the landscape .

2 . Donor advised funds _____. A . Allow donors to bundle donations otherwise made over several years into one year B . Don ’ t allow the bundling of donations C . Will become attractive if donors have to itemize every year D . None of the above

From “ A Fund For Uncertain Times ,” page 43

3 . What is not one of the Permanent Portfolio ’ s six broad investment categories ? A . U . S . dollar assets B . Swiss francs C . Crypto D . Aggressive growth equities

4 . What are among the Permanent Portfolio ’ s characteristics ? A . It uses leverage . B . It has 50 % to 70 % of its holdings in equities . C . It has a 30 % target weighting in equities . D . It has a 100 % correlation to bonds .

From “ When Should Empty Nesters Downsize ?,” page 50

5 . What is a down side of selling your house for a smaller one in retirement ? A . Capital gains taxes on the old place B . Property taxes on the new place C . Unforeseen utility costs D . All of the above

6 . Why does one advisor in the story call home equity a “ dead asset ”? A . You can ’ t tap it unless you take out a loan B . It ’ s hard to sell the house C . Upkeep is expensive D . None of the above

From “ Roth Conversion Mistakes ? Who Knew ?,” page 51

7 . When is the deadline for a 2024 Roth conversion ? A . As soon as possible C . April 15 , 2025 B . December 31 , 2024 D . January 30 , 2025

8 . What are the disadvantages of higher RMDs ? A . Higher taxes on a percentage of Social Security B . A possibly higher premium for Medicare Part B and D C . A possible 3.8 % net investment income tax on portfolio income D . All of the above

From “ What ’ s A Deferred Sale Trust ?” page 53 9 . What is a primary benefit of using a deferred sale trust in estate planning ? A . It offers the immediate avoidance of estate taxes . B . It offers the deferral of capital gains taxes on the sale of appreciated assets . C . It offers a guaranteed exemption from IRS scrutiny . D . It offers complete liquidity for sellers .

10 . Which of the following is a key risk associated with deferred sale trusts ? A . Guaranteed losses on investments B . The irrevocable transfer of assets to charity C . There ’ s increased scrutiny from the IRS D . There ’ s a lack of control over the choice of beneficiaries

From “ The Shifting Giving Landscape ,” page 32 1 . ___ can be eliminated when clients contribute long-term appreciated assets directly to charity . A . Income taxes B . Property taxes C . Capital gains taxes D . None of the above

2 . ____ of donors to the DAFGiving360 fund made grants to organizations within their home states , according to Schwab . A . 25 % C . 67 % B . 50 % D . 87 %

From “ A Fund For Uncertain Times ,” page 43

3 . Michael Cuggino says the Permanent Portfolio ’ s correlation to bonds is roughly _____. A . 25 % C . 75 % B . 50 % D . 100 %

4 . In the 10 years ended January 31 , the Permanent Portfolio said it ____ A . Outperformed the FTSE 3-Month U . S . Treasury Bill index B . Outperformed the S & P 500 C . Did the same as the S & P 500 D . None of the above

From “ When Should Empty Nesters Downsize ?,” page 50 5 . When will a move to a smaller house make sense in retirement ? A . When you have calculated the true cost of the new home B . When you move closer to children C . When you can take out a new loan D . None of the above

6 . Why else does the move to a smaller home make sense in retirement ? A . Because it will always cost less to move over the long run . B . It could better accommodate your infirmities as you get older . C . Your new mortgage will be cheaper . D . None of the above

From “ Roth Conversion Mistakes ? Who Knew ?,” page 51 7 . Why might you roll a traditional IRA to your employer plan ? A . If you have not accounted for all your IRAs in a Roth conversion calculation B . If the employer plan meets your investment objectives C . If the fees are reasonable D . All of the above

8 . If heirs inherit a Roth , it can then grow tax-free for how long ? A . Forever B . For five years C . For 10 years D . They must take it out immediately

From “ What ’ s A Deferred Sale Trust ?” page 53

9 . How does a charitable lead trust typically benefit the donor ’ s estate ? A . It eliminates the need for a trustee . B . It provides a charitable deduction that reduces the taxable estate . C . It offers full control over the assets even after the donor ’ s death . D . It ensures tax-free distributions to heirs .

10 . In a charitable remainder trust , which of the following is true about tax treatment ? A . The grantor must pay capital gains taxes immediately upon funding the trust . B . The grantor retains full control of the assets within the trust . C . The trust can sell appreciated assets without incurring capital gains taxes . D . The trust is revocable and can be altered at any time by the grantor .

56 | FINANCIAL ADVISOR MAGAZINE | DECEMBER 2024 WWW . FA-MAG . COM