From “ Engaging In The Legacy Dialogue ,” page 18 1 . What disputes arise in estate planning , according to author

Jeffrey Condon ? A . Squabbles over inherited property B . Disputes between second spouses and children of first marriages C . Disagreements over the selection of trustees or guardians D . All of the above

2 . What does author Kris Arnzen recommend asking clients about legacy ? A . How do you want to be remembered ? B . How do you want to pass on wisdom ? C . Do you want to leave a societal legacy ? D . All of the above

From “ Making A Strong Giving Statement ,” page 21

3 . What are some of the great hallmarks of a mission statement ? A . It can evolve . B . It can become more specific over time . C . You can involve the next generation in its creation . D . All of the above

4 . Why should you revisit your mission statement ? A . You will likely go from broad to specific over time . B . The children will gradually be involved . C . You ’ ll learn more specific ways you can help . D . All of the above

From “ Married … With Finances ,” page 30 5 . When in doubt , advisors should assume that _____. A . The man dominates financial decision-making B . The woman dominates financial decision-making C . The higher earner dominates financial decision-making D . Both partners share equally in financial decision-making

6 . When first meeting couples who are potential clients , be especially attentive to ____. A . How each partner dresses B . Body language cues , which may speak louder than words C . Which partner dominates the conversation D . The weather , which can affect moods

From “ Innovations On The Income Puzzle ,” page 37

7 . For Antwone Harris ’ s client , selling covered calls generates approximately : A . 10,000 a year

C . A stable income each year

B . $ 1,400 a month

D . $ 35,000 a year

8 . Antwone Harris ’ s client wanted extra income in retirement to : A . Take trips with her grandchildren B . Pay for her children ’ s education C . Pay off debts D . Invest in luxury jewelry

From “ Finding Gems In The Trash Heap ,” page 48

9 . The Pzena Emerging Markets Value Fund typically holds _____. A . 20 to 40 stocks B . 40 to 80 stocks C . Around 40 stocks D . Around 100 stocks

10 . Last year , the Pzena Emerging Markets Value Fund ____ while its category lost 21 %. A . Saw an 8 % positive return B . Saw a 3 % positive return C . Lost 5.7 % D . Lost 3 %

From “ Engaging In The Legacy Dialogue ,” page 18 1 . What are some of the emotional priorities you ’ ll likely have for estate planning ? A . Tax minimization B . Blunting the impact of sudden wealth on heirs C . The creation of scholarships D . None of the above

2 . What question might you ask to gauge people ’ s emotions and memory about money ? A . What were your first experiences earning money ? B . How much did your money return last year ? C . Do you want to set up a trust ? D . None of the above

From “ Making A Strong Giving Statement ,” page 21

3 . What are some of the author ’ s tips for a mission statement ? A . Give yourself and your organization some time to develop it . B . Home in on a precise and specific mission immediately . C . Don ’ t shift focus . D . None of the above

4 . What are the benefits of a mission statement ? A . It ’ s good for the IRS to have . B . It helps you align with the right donors . C . It sets your mission in stone . D . You can ’ t create a foundation without one .

From “ Married … With Finances ,” page 30

5 . What has happened to the percentage of women who are sole or primary breadwinners in mixed-gender marriages , according to the Pew Research Center ? A . It has tripled over the past 50 years to 16 % B . It has doubled over the past 50 years to 16 % C . It has doubled over the past 50 years to 29 % D . It has tripled over the past 30 years to 29 %

6 . Which partner earns more is a clear indicator of what ? A . A greater role in financial decisions B . Who spends more C . Which partner has more free time D . Nothing you can count on

From “ Innovations On The Income Puzzle ,” page 37 7 . Antwone Harris solved his client ’ s problem of funding her retirement by doing which of the following things ? A . Taking her pension in a lump sum and investing it B . Using covered calls to generate income C . Delaying Social Security benefits until she is 70 years old D . All of the above

8 . Covered calls involve : A . Investing in rare alternatives B . Selling the right to another investor to buy a stock that ’ s risen to a certain price C . Selling the right to another investor to buy a stock when it decreases in value D . Investing in emerging markets

From “ Finding Gems In The Trash Heap ,” page 48

9 . The Pzena Emerging Markets Value Fund focuses on a company ’ s value according to its ____. A . Normalized earnings

C . Liquidation value

B . P / E ratios

D . None of the above

10 . What advantages do the emerging markets have ? A . An emerging , young middle class C . Cheaper equities B . The potential for faster economic growth D . All of the above

56 | FINANCIAL ADVISOR MAGAZINE | SEPTEMBER 2023 WWW . FA-MAG . COM