From“ What Is Structured Giving?,” page 20

1. What quality does not describe a donor-advised fund? A. At least 5 % of the monthly fair value must be distributed every year. B. These funds are often sponsored by fund giants like Fidelity and Schwab. C. Donors generally receive immediate tax deductions when funding them. D. Donors maintain flexibility in when and where they give.

2. What is fiscal sponsorship? A. When a public charity partners with and sponsors a charitable project or an emerging nonprofit B. Using a donor-advised fund C. Setting up a private foundation D. Giving by writing personal checks

From“ Spotlight On An Overlooked Asset Class,” page 44

3. Convertible securities work how? A. They contain call options allowing them to be converted into common stock shares. B. They include bonds that let companies tap the credit market, offering coupons at a lower rate. C. Convertible bonds often come with five-year maturities. D. All of the above

4. The Fidelity Advisor Convertible Securities Fund’ s managers say ____ of convertible bonds currently in the market will mature by 2026. A. 8 % B. 14 % C. 20 % D. 50 %

From“ Estate Planners Ponder Their Profession’ s Future At Heckerling,” page 47

5. As of 2026, ___ states still impose an estate tax on a person’ s death. A. 5 B. 10 C. 12 D. 24

6. For 2026, the lifetime unified gift and estate tax credit is now the equivalent of ___ per taxpayer. A. $ 10 million

B. $ 12 million

C. $ 15 million

D. $ 30 million

From“ How 351 Exchanges Help Investors,” page 50

7. No single asset can represent more than ___ of the total value of a 351 transfer. A. 5 % B. 10 % C. 15 % D. 25 %

8. You cannot use any of these things but one for a 351 exchange: A. Mutual funds B. Crypto C. Options D. Exchange-traded funds

From“ When Client Depression Becomes Your Business,” page 52

9. A 2020 report in the journal Healthcare found that nearly ____ of retirees surveyed experience depression. A. 10 % B. 25 % C. A third D. Half

10. By 2030, ____ of Americans will be in retirement. A. 5 % B. 10 % C. 20 % D. 30 %

From“ What Is Structured Giving?,” page 20

1. Donor-advised funds can accept donations of ____. A. Real estate B. Stock C. Private equity D. All of the above

2. What does planned giving involve? A. As donated assets are invested, a portion of the returns are paid to the donor or beneficiaries. B. Clients can turn to a sponsoring 501( c)( 3) charity for back-office help. C. It means setting up a foundation. D. None of the above

From“ Spotlight On An Overlooked Asset Class,” page 44

3. The Fidelity Advisor Convertible Securities Fund’ s managers say that with the typical convertible you’ ll give up the first ___ or so of equity price appreciation. A. 8 % B. 10 % C. 15 % D. 25 %

4. Issuers of convertible bonds typically are: A. Smaller, high-growth companies B. Cash poor C. Rated as non-investment grade D. All of the above

From“ Estate Planners Ponder Their Profession’ s Future At Heckerling,” page 47

5. What part of the tax code allows a step-up in tax basis to fair market value for assets passing to heirs? A. Section 899 B. Section 1061 C. Section 1014( b) D. Section 174

6. The ____ required trusts to terminate after a certain time frame. A. Common law rule against perpetuities B. One Big Beautiful Bill C. Uniform Trust Code D. Employee Retirement Income Security Act

From“ How 351 Exchanges Help Investors,” page 50

7. IRS diversification requirements mean the top five holdings of a 351 exchange cannot exceed ___ of the value.

A. 25 % B. 50 % C. 75 % D. 90 %

8. The 351 exchange is meant to help clients do what? A. Diversify assets without triggering an immediate taxable event B. Trade dissimilar assets C. Give to charity D. None of the above

From“ When Client Depression Becomes Your Business,” page 52

9. What are some of the warning signs of depression in a client? A. Withdrawal from meetings B. Unusual or unexpected financial behavior C. Verbal cues of low self-esteem D. All of the above

10. More than _____ Americans turn 65 every day. A. 1,000 B. 11,000 C. 20,000 D. 40,000

56 | FINANCIAL ADVISOR MAGAZINE | MARCH / APRIL 2026 WWW. FA-MAG. COM