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From “ A Tax Hit And A 403 ( b ),” pg . 33
1 . A mortgage “ recast ” has which one of the following advantages over a refinancing ? A . It lowers the interest rate . B . It uses an income table to determine the interest rate . C . It allows the holder to keep the same loan and interest rate as the original mortgage . D . It reduces the principal .
2 . Which one of the following Social Security withdrawal strategies was changed in recent years so that it ’ s no longer available in some situations ? A . The filing of a restricted application . B . The filing for dependent children ’ s benefits . C . The ability to put off benefits until age 70 . D . The filing for spousal benefits .
From “ Students Anxiously Await New Student Aid Rules ,” pg . 43
3 . When is the Department of Education rolling out its simplified Free Application for Federal Student Aid form ( FAFSA )? A . July 2023 B . December 2023 C . January 2024 D . June 2024
4 . Who could be impacted by changes to the FAFSA ? A . Business owner parents B . Families with multiple kids in school concurrently C . Families in high-tax states D . All of the above From “ Where Annuities Fit In The Puzzle ,” pg . 45 5 . Income annuities are “ a great choice ” for what part of the retirement plan ? A . Emergency expenses
C . Basic living needs
B . Luxury expenses D . No part
6 . Annuities can / should be looked at in all of the following ways except ____. A . As longevity insurance . B . As a way to provide guaranteed lifetime income even if you live past your life expectancy . C . As a hedge against having to sell assets to fund living expenses . D . As a protected way to generate the highest returns . From “ 5 Ideas For Clients To Delay Social Security Until Age 70 ,” pg . 48 7 . Only ___ of men and ___ of women wait until age 70 to file for retirement benefits . A . 2 %, 8 % B . 5 %, 7 % C . 8 %, 10 % D . 12 %, 24 %
8 . What could help clients delay taking Social Security benefits to age 70 ? A . They could use an annuity . B . They could take their deceased spouse ’ s Social Security benefit . C . They could tap into 401 ( k ) s or IRAs instead . D . All of the above From “ Some Good News ( At Last ) For Long-Term-Care Insurance ,” pg . 52 9 . For providers of long-term-care ( LTC ) insurance , higher interest rates means ___. A . They ’ ll have to hike premiums . B . They ’ ll have to scale back benefits . C . They ’ ll have to tighten underwriting standards . D . They should be able to stop raising premiums on new policies and possibly even reduce them .
10 . Among the first to reap the benefits of rising interest rates might be which one of the following ? A . Hybrid long-term-care policies linked to life insurance or annuities B . Stand-alone LTC policies C . Traditional LTC policies D . Medicare recipients
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Financial Advisor ( ISSN 1545-0163 , USPS 021-488 ) is published monthly by Charter Financial Publishing Network Inc ., 499 Broad Street , Shrewsbury , NJ 07702 . Tel : 732-450-8866 . 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 2022 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 . June 2023 Financial Advisor ( Volume 24 , Number 5 )
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