From“ Security For Those With Developmental Disabilities,” page 26 1. What is often overlooked when naming a guardian for a disabled person? A. Making sure the person understands the responsibility B. Making sure the guardian’ s future plans don’ t keep them from the job C. Making sure the guardian wants the job D. All of the above

2. What are ABLE accounts? A. They allow people to spend on qualified disability expenses tax-free. B. They stem from the Pension Protection Act. C. They are retirement accounts for disabled persons. D. They are the same thing as a special needs trust.

From“ Value Isn’ t Just About Cheap Prices,” page 42

3. The Artisan Global Value Fund is a portfolio of ___ stocks. A. 100 to 150 C. 50 to 70 B. 80 to 90 D. 35 to 40

4. The Artisan Global Value Fund has a turnover rate of ____. A. 16 % C. 50 % B. 25 % D. 64 %

From“ What Boomers Can Teach Future Retirees,” page 46

5. A poll found ____ of new retirees took a year to adjust after retiring. A. A quarter C. 67 % B. Half

D. All

6. What’ s the problem with the idea of“ aging in place,” according to the author? A. People assume it means house retrofit for immobile seniors. B. No one thinks about preparing for it until an emergency happens. C. It’ s something you could easily prepare for in the empty-nest phase. D. All of the above

From“ The Risky Insurance Behind The Insurance,” page 50

7. What types of insurance have benefited by having private equity back it? A. Property and casualty B. Life insurance C. Annuities D. None of the above

8. U. S. insurers ceded some ___ in life insurance / annuity reserves to offshore reinsurers from 2017 to 2023, said Moody’ s. A. $ 400 billion B. $ 600 billion C. $ 800 billion D. $ 1 trillion

From“ Using Market Downturns To Preserve The Next-Gen’ s Wealth,” page 53 9. What is a“ 2036 inclusion”?

A. An asset must be included in an estate if the grantor controls or benefits from it. B. It means a grantor cannot include IRAs in their estate. C. It means an estate must include a certain minimum interest payout. D. None of the above

10. What tax code section says a tax imposed on a gifted asset is based on the gift’ s fair market value at the time the gift was made? A. Section 2512 B. Section 7520 C. Section 2036 D. Section 675( 4)( C)

From“ Security For Those With Developmental Disabilities,” page 26 1. A special needs trust lets families set aside funds for _____.

A. Therapies C. Personal care

B. Education

D. All of the above

2. A special needs trust is for a person with disabilities and it ___. A. Contains assets counted as personal resources B. Can jeopardize government benefits if assets are too high C. Contains assets not counted as personal resources D. Is the same as an ABLE Account

From“ Value Isn’ t Just About Cheap Prices,” page 42

3. The Artisan Global Value Fund’ s benchmark is the ____. A. S & P 500 B. Russell 2000 C. MSCI All Country World Index D. Dow Jones Industrial Average

4. The Artisan fund owns which Magnificent 7 stocks? A. Apple B. Nvidia C. Tesla D. None of the above

From“ What Boomers Can Teach Future Retirees,” page 46

5. ___ were the first to enter retirement with little or no pension. A. The Greatest Generation C. Gen X B. Gen Z

D. The baby boomer generation

6. What is a zero-entry shower? A. A trust vehicle that must pay at the Section 7520 interest rate B. A zeroed-out trust C. An actual bathroom shower without steps or thresholds D. None of the above

From“ The Risky Insurance Behind The Insurance,” page 50

7. What does reinsurance do? A. Lets insurers remain solvent amid an unexpected degree of losses B. Lets insurers underwrite more policies without raising rates C. Lets insurers transfer their risk D. All of the above

8. From 2020 to 2024, the dollar amount ceded to reinsurance companies by insurers rose ___. A. 23 % B. 53 % C. 86 % D. 90 %

From“ Using Market Downturns To Preserve The Next-Gen’ s Wealth,” page 53 9. What is a rolling GRAT? A. A series of short-term trust vehicles, one rolling into another B. A single grantor-retained annuity trust that zeroes out C. A GRAT that leaves everything for the kids D. None of the above

10. How can lower asset values be used with Roth IRAs for estate purposes? A. Depreciated assets take less in taxes to convert into Roths. B. The income tax paid for conversion reduces an estate. C. The Roth converts tax-deferred ordinary income into tax-free income. D. All of the above

56 | FINANCIAL ADVISOR MAGAZINE | MAY 2025 WWW. FA-MAG. COM