From“ An Advisor’ s Guide To 2026 Philanthropy Trends,” page 19 1. How are political shifts reshaping giving?

A. Private foundations are filling gaps created by decreases in government funding.

B. Private philanthropists are filling gaps created by decreases in corporate funding. C. A new tax regime is changing giving patterns. D. All of the above

2. How are younger donors different from older ones? A. They are more likely to use foundations. B. They are looking for tax benefits to giving. C. They want to see the direct impact of their giving. D. None of the above

From“ Fishing In A Profitable Pond,” page 37 3. The Thornburg Investment Income Builder Fund targets a mix of _____. A. 25 % fixed income and 75 % equities B. 50 % fixed income and 50 % equities C. 75 % fixed income and 25 % equities D. 90 % equities and 10 % fixed income

4. Foreign stocks recently represented some ___ of the Income Builder Fund’ s equity portfolio. A. 13 % B. 28 % C. 38 % D. 57 %

From“ Why Some Advisors Are Daffy For Donor-Advised Funds,” page 40 5. From 2026 onward, only itemized charitable contributions that exceed ___ of your MAGI can be deducted. A. 0.5 % B. 1 % C. 1.5 % D. 2 %

6. What are the advantages of donor-advised funds in the current tax regime? A. Itemizers can bunch donations in one year to get over the standard deduction threshold. B. These funds have to pay out donations immediately. C. The donor can profit from growth in the account. D. None of the above

From“ Can A TIPS Strategy Replace The 4 % Rule?,” page 49

7. Stefan Sharkansky’ s new retirement withdrawal method mixes long-term equities holdings with ___. A. A Treasury Inflation-Protected Securities( TIPS) ladder B. Fixed-index annuities C. Registered index-linked annuities D. Dividend equities

8. What’ s a disadvantage of a TIPS approach in a longevity plan? A. They don’ t adjust for inflation. B. They mature after 30 years. C. They don’ t allow variability of income. D. You have to buy them directly from the federal government.

From“ How To Legally Disinherit Family Members,” page 53

9. In community property states, spouses automatically own ___ of all property acquired during the marriage. A. 10 % B. 40 % C. 50 % D. 60 %

10. Most states include robust protections for ___. A. Children born or adopted after the testator executes their will B. A testator’ s children only if they’ re in the will C. Grandchildren D. None of the above

From“ An Advisor’ s Guide To 2026 Philanthropy Trends,” page 19

1. How are younger donors different in their giving? A. They favor mobile giving tools. B. They favor online grant-making platforms. C. They like giving in crypto. D. All of the above

2. How is artificial intelligence changing philanthropy? A. The tools measure impact and anticipate emerging needs. B. The givers are largely uninvolved. C. They require no human oversight for giving. D. None of the above

From“ Fishing In A Profitable Pond,” page 37

3. On the bond side, the Thornburg Investment Income Builder Fund’ s duration is about ____. A. 3.5 years B. 3.8 years C. 4.0 years D. 5.1 years

4. The Thornburg Investment Income Builder Funds aims to ___. A. Only grow principal over the long term B. Only provide consistent income exceeding the average U. S. stock yield. C. Both grow principal and offer income above stock yields. D. None of the above

From“ Why Some Advisors Are Daffy For Donor-Advised Funds,” page 40 5. How do donor-advised funds aid estate planning?

A. They can pick a charity to receive all remaining assets when the account holder dies. B. The funds can also be the beneficiaries of an inherited IRA. C. They allow givers to preplan recurring and ongoing grants. D. All of the above

6. The One Big Beautiful Bill set the lifetime gift and estate tax exemption at ___ per taxpayer in 2026. A. $ 1 million B. $ 8 million C. $ 10 million D. $ 15 million

From“ Can A TIPS Strategy Replace The 4 % Rule?,” page 49 7. In Stefan Sharkansky’ s model, discretionary spending should mainly come from ____. A. The equity portion of the portfolio B. The TIPS ladder C. An annuity D. A fixed-index annuity

8. In Sharkansky’ s model, ___ should satisfy high priority spending with zero risk. A. A fixed-index annuity B. A long-term equity portfolio C. A TIPS ladder D. A registered index-linked annuity

From“ How To Legally Disinherit Family Members,” page 53 9. DIY estate plans often fail because ____.

A. There are forced protections for omitted children not expressly disinherited. B. There are forced-share rights for surviving spouses. C. They lead to litigation if not carefully worded. D. All of the above

10. A child born after the execution of a will gets ___. A. Nothing B. A statutory share mirroring what they would receive if the parent had died intestate C. Only charitable remainder trust income D. None of the above

56 | FINANCIAL ADVISOR MAGAZINE | DECEMBER 2025 WWW. FA-MAG. COM