From “ Getting The Kids Involved ,” page 21

1 . How should you approach getting kids involved in philanthropy ? A . Start them early with education . B . Give kids site visits to nonprofits they might give to . C . Use a formal process with objective criteria for involving kids . D . All of the above .

2 . Why do tensions arise among family members in discussing philanthropy ? A . The family members might not have the same values . B . Outsiders create tensions . C . Younger members must feel able to question authority . D . All of the above .

From “ Unsafe At Any Speed ,” page 23

3 . The National Council on Aging says 60 % of Americans cannot afford : A . More than two years of in-home care B . More than five years of healthcare in retirement C . College tuition for their children D . A second home

4 . According to new consumer research , 93 % of consumers who protected their portfolio with this financial product are “ satisfied ” with their investment choices for 2022 and 44 % are “ extremely satisfied ”: A . A managed portfolio

C . An annuity B . A 60 / 40 blend of stocks and bonds D . An alternative investment

From “ Bank On It ,” page 46

5 . The Davis Financial Fund produced an average annual return of ___ from inception through this year ’ s first quarter . A . 5.65 % C . 10.62 % B . 8.78 %

D . None of the above

From “ Swapping Old Annuities For New Ones ,” page 49

7 . Another potential problem with turning in an old annuity is : A . Finding a buyer B . Insurance carrier solvency C . Suffering insufficient liquidity D . Market changes that might lower its value

8 . According to industry data , swapping old annuities for new ones is : A . Currently a very popular strategy B . Slowing down after an initial surge C . Not happening in significant numbers D . Recommended by advisors a lot

From “ The Retirement Rules Have Changed ,” page 53

9 . According to Age Wave and Edward Jones , the biggest derailer for retirement planning often is which of the following ? A . The effects of inflation on income . B . Having children take over the expenses . C . Investing in only dividend-paying stocks . D . The loss of a spouse .

10 . RetireOne has developed an insurance product that includes which of the following ? A . A strategy that includes high-yield bonds B . A contingent deferred annuity C . A direct indexing option D . A reversal of the 60 % equities , 40 % bonds strategy

From “ Getting The Kids Involved ,” page 21 1 . What are the challenges of getting kids involved in family philanthropy ? A . They might not have the same values as their elders . B . A wealthy family ’ s finances aren ’ t transparent to all members . C . There are no vehicles for kids to use . D . There are no tax incentives for getting kids involved .

2 . What ’ s an advantage of getting kids involved in philanthropy ? A . It gets kids prepared to manage other family enterprises . B . You need only informal family discussions to get them started . C . You won ’ t need outsiders to help if kids are involved . D . None of the above .

From “ Unsafe At Any Speed ,” page 23

3 . What percentage of consumers feel the 2022 market setback causes longer-term problems for their retirement plans ? A . 20 % C . 60 % B . 80 % D . 43 %

4 . The number of working people compared to the number of Social Security beneficiaries as fallen to what ratio today ? A . 50 to 1.5 B . 25 to 1.5 C . 3 to 2 D . 2.8 to 1

From “ Bank On It ,” page 46

5 . Banks represented ____ of the Davis Financial Fund ’ s holdings in the first quarter . A . 28 % C . 45 % B . 32 % D . 50 %

6 . Chris Davis says the bellwether banks that his fund likes enjoy ____. A . Diversified asset and funding bases B . Higher capital ratios C . Better accounting standards D . All of the above

From “ Swapping Old Annuities For New Ones ,” page 49 7 . Higher interest rates mean that many new annuities do what ?

A . Pay out less

C . Cost more B . Pay out more D . Nothing . They aren ’ t affected .

8 . What are the arguments for not trading in old annuities for new ones ? A . You must pay high early-surrender charges . B . You will pay low early-surrender charges . C . There will be pricing fluctuations . D . You ’ ll endure market volatility .

From “ The Retirement Rules Have Changed ,” page 53

9 . Direct indexing includes three of the following characteristics . Which one is not part of direct indexing ? A . It involves buying individual stocks that are part of an index . B . It means investing in an index with the help of an advisor . C . It is now more possible for individuals because of technology . D . It is a viable option for generating retirement income .

10 . According to Aaron Hodari at Schechter Wealth , all but one of the following have a place in a retirement portfolio strategy . A . Investing in alternatives B . Including high-yield private debt in a portfolio C . Assigning investments and expenses to buckets D . Investing in both dividend and growth stocks

56 | FINANCIAL ADVISOR MAGAZINE | JULY / AUGUST 2023 WWW . FA-MAG . COM