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From“ How To Unite Families With Foundations,” pg. 19
1. How do you expand a foundation’ s mission if family members have different goals? A. Offer discretionary grant-making capabilities to individual family members. B. Find a root cause that underlies family members’ separate causes. C. See if a charity supported in one community can be expanded to another area. D. All of the above
2. How can you keep everyone in a foundation involved and on an equal footing?
A. By using“ PhilTech” to boost collaboration and communication. B. By expanding some charities to different cities. C. By giving some family members discretionary grant-making abilities. D. All of the above
From“ Finding Alpha In Mid-Cap Investing,” pg. 44
3. Federated Hermes MDT’ s investment team uses ___ factors as part of its decision modeling. A. 4 B. 8 C. 10 D. 16
4. The Federated Hermes MDT Mid Cap Growth Fund holds __ positions.
A. 40 B. 65 C. 95 D. 125 From“ The ESOP Story Is No Fable,” pg. 47 5. Employee stock ownership plans let owners of ____ liquidate equity in their business while retaining governance. A. C corps and S corps
C. Joint ventures
B. Partnerships D. None of the above
6. ____ allows employees with closely held C corp shares to defer capital gains by purchasing stocks or securities in qualified replacement property.
A. Section 1031 B. Section 1042 C. 401( a) D. 401( k)
From“ Should Retirees Pay Off Their Mortgages? It Depends,” pg. 49 7. Retirement specialist Wade Pfau describes mortgages this way: A. They’ re a kind of negative bond. B. Holders get a risk-free percentage of their home, their biggest asset. C. Mortgage rates become a return hurdle to beat. D. All of the above
8. Continuing to service a mortgage can get you _____.
A. Tax deductions B. Freedom to invest money elsewhere at a higher return C. A contained fixed cost when other costs are rising D. All of the above
From“ Estate Planning Is Changing In 2026— Here’ s How,” pg. 54
9. When the Tax Cuts and Jobs Act sunsets, the estate tax exclusion would drop to about ____ per person. A. $ 10 million B. $ 8 million C. $ 7 million D. $ 3 million
10. How can you reduce estate tax liabilities?
A. Establish irrevocable trusts to remove assets from an estate. B. Transfer business ownership interests before 2026 and take advantage of valuation discounts. C. Gift assets before the exclusion decreases. D. All of the above
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Financial Advisor( ISSN 1545-0163, USPS 021-488) is published monthly by Charter Financial Publishing Network Inc., 149 Avenue at the Common, Shrewsbury, NJ 07702. Periodicals postage paid at Red Bank, NJ and additional mailing offices. Subscription Rates: $ 79 per year. Postmaster: Send all address changes to Charter Financial Publishing Network Inc., P. O. Box 7550, Shrewsbury, NJ 07702. Copyright 2025 by Charter Financial Publishing Network Inc. Reproduction, photocopying or incorporation into any information-retrieval system for external or internal use is prohibited unless permission is obtained beforehand from the publisher in each case for a specific article. The subscription fee entitles the subscriber to one original copy only. Unauthorized copying is considered theft. July / August 2025 Financial Advisor( Volume 26, Number 6)
JULY / AUGUST 2025 | FINANCIAL ADVISOR MAGAZINE | 57