From “ Retirees ’ Healthcare Costs Increased 8 % In 2023 ,” pg . 11 1 . How much would a retiring couple have to save for a 90 % chance of covering health expenses under a Medicare Advantage plan ? A . $ 413,000 C . $ 189,000 B . $ 351,000

D . None of the above

2 . How does the Employee Benefit Research Institute study in this story factor in long-term-care costs ? A . It takes the average state by state . B . It assumes national averages for one spouse in a married couple . C . It assumes national averages for both spouses in a married couple . D . It doesn ’ t .

From “ Unlocking A $ 30 Trillion Opportunity ,” pg . 21

3 . If a client is new to philanthropy , what are some ways to test the waters with an organization ? A . Start with small donations to see if the charity lives up to its promises B . Volunteer , either in the field or on the charity ’ s board C . Interview people who have benefited from the charity D . Ask other donors whether the experience has been worthwhile

4 . In the last five years , the number of women grantors has increased by how much ? A . 26 % B . 32 % C . 76 % D . 36 %

From “ Don ’ t Count On A Soft Landing For The Global Economy ,” pg . 43

5 . Why does Kenneth Rogoff think that it ’ s crucial so many people around the world will be voting this year ? A . There will be more geopolitical turmoil . B . It augurs more government spending by politicians trying to buy favor . C . Middle East turmoil has roiled markets . D . None of the above

6 . The Chinese government said its economy grew by _____ in 2023 , but Rogoff doubts this figure . A . 4.2 % B . 5.2 % C . 6.5 % D . 8 %

From “ Helping Clients Navigate Income Tax Bracket Changes ,” pg . 48 7 . The IRS adjustments to income tax brackets this year include a ____ bump in bracket thresholds . A . 2.3 % B . 3.8 % C . 4.8 % D . 5.4 %

8 . Without action by Congress , the estate tax exemption under the 2017 Tax Cuts and Jobs Act sunsets at the end of ____. A . 2025 B . 2026 C . 2028 D . 2030

From “ Why Annuity Sales Are Booming ,” pg . 51

9 . Two especially popular annuity innovations are : A . Return-of-premium guarantees and lump-sum annuity investments B . Single premium immediate annuities ( SPIAs ) and deferred annuities C . Fixed and variable annuities D . Fixed-index annuities ( FIAs ) and registered index-linked annuities

( RILAs ) 10 . What was the SECURE Act ’ s potential effect on annuity sales ?

A . It allowed administrators of 401 ( k ) plans to offer annuities as an option .

B . It allowed fee-only advisors to offer zero-commission annuity contracts . C . It made it easier for commissioned agents to sell annuities . D . It helped popularize commissioned annuities over no-commission annuities .

From “ Retirees ’ Healthcare Costs Increased 8 % In 2023 ,” pg . 11

1 . When is the $ 2,000 cap on prescription drugs going into effect ? A . Sometime in 2024 C . Sometime in 2026 B . Sometime in 2025

D . It ’ s already in effect

2 . What kind of Medicare Advantage plan do 73 % of enrollees choose ? A . A low-premium , moderate co-pay plan B . A high-premium , low co-pay plan C . A zero premium plan with higher out-of-pocket expenses D . A Medigap match plan

From “ Unlocking A $ 30 Trillion Opportunity ,” pg . 21

3 . According to Fidelity Charitable , what percentage of women wish they were doing more to make a difference ? A . 63 % B . 91 % C . 86 % D . 79 %

4 . When clients are thinking of pivoting to a different cause , what should an advisor encourage them to do ? A . Learn from their mistakes C . Reassess their philanthropy B . Take some risks

D . All of the above

From “ Don ’ t Count On A Soft Landing For The Global Economy ,” pg . 43

5 . Why were World Economic Forum policymakers optimistic in January ? A . They liked the U . S . economy ’ s better-than-expected performance . B . They believe AI will catalyze markets . C . A mild slowdown would be a healthy correction to demand . D . All of the above

6 . What does author Kenneth Rogoff think will cause a debt-deflation spiral in China ? A . Chinese consumers are more inclined to save than spend . B . The country enjoyed higher GDP growth . C . The government will initiate direct cash transfers to households . D . None of the above

From “ Helping Clients Navigate Income Tax Bracket Changes ,” pg . 48 7 . The amount in money or assets the IRS lets you give away over your lifetime without having to pay the federal gift tax rises to ___ per individual in 2024 . A . $ 10.62 million B . $ 12.92 million C . $ 13.61 million D . $ 15.63 million

8 . The IRS is beefing up enforcement on matters that affect wealthy clients . These include ____. A . Foreign tax reporting B . Digital assets C . Pass-through entities D . All of the above .

From “ Why Annuity Sales Are Booming ,” pg . 51

9 . According to Limra , total U . S . annuity sales last year did what ? A . Declined by the greatest margin on record B . Broke the record for the second year running C . Broke the record for the third year running D . Stayed flat

10 . One frequently cited driver of annuity sales is : A . Many annuities can provide guaranteed lifetime income , solving for longevity risk . B . Many annuities are cheaper than the equivalent mutual funds . C . There ’ s a bull market . D . Many annuities come with incentive pricing .

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