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Exam Code: CTFA Practice test 2022 by team
CTFA Certified Trust and Financial Advisor (CTFA)

The knowledge areas below are the basis for the Certified Trust and Financial Advisor (CTFA) examination. These knowledge areas were derived from a job analysis study and were validated by the CTFA Advisory Board. Postcertification programs that address these knowledge areas are eligible for CTFA continuing education credits through the American Bankers Association.

I. Fiduciary & Trust Activities (25%)
A. Nature and Characteristics of Account Relationship
1. Trusts
2. Estates
3. Guardianships/ Conservatorships
4. Custodians
5. Financial and Health Care Powers of Attorney
6. Agencies
B. Formal Requisites of Establishing Account
1. Written Agreements or Documents
2. Trust Situs
3. Acceptance of Fiduciary Appointment
4. Disclaiming of Interest
C. Fiduciary Responsibilities
1. Powers
2. Duties
3. Uniform Acts/Codes
4. Safekeeping of Assets
5. Environmental Issues
D. Investment Responsibilities
1. Investment Powers
2. Investment Types & Restrictions
3. Sale/Retention by Bank of Its Own Holding Company Securities
4. Prudent Investor
E. Receipts, Payments and Distributions
1. Duty in Making Payments or Distributions
2. Uniform Principal & Income Act
F. Accounting and Compensation
1. Duty to Keep Records
2. Duty to Furnish Information
to Beneficiaries
3. Duty to Render Court Accountings
4. Fiduciary Compensation
G. Alteration or Termination of the Trust
1. Power to Change Terms
2. Power to Revoke or Terminate
H. Regulatory/Compliance
1. Due Diligence
2. Know Your Customer
3. Privacy Issues
4. Bank Secrecy Act
5. OCC Regulation 9
6. Securities Laws
II. Financial Planning (25%)
A. Personal Finance
1. Time Value of Money Principles
2. Statement of Assets and Liabilities
3. Cash Flow Management
4. Debt Management
5. Investment Planning
6. Education Planning
7. Health Care & Disability Planning
B. Retirement
1. Capital Sufficiency
2. Investment Strategies
3. Wealth Accumulation & Distribution
4. Social Security & Other Programs
5. IRAs
6. Qualified and non-Qualified Plans
7. Income Needs & Sources
C. Insurance
1. Life Insurance
2. Long Term Care Insurance
3. Disability
4. Annuities
5. Health Insurance
6. Property/Casualty Insurance
7. Insurance Company, Product, and Intermediary Selection Criteria
D. Transfer Assistance
1. Wealth Transfer During Lifetime
2. The Flow of Property at Death
3. Business Succession Planning
4. Planning Documents
5. Planning Considerations
6. Charitable Giving Strategies
7. Special Needs Planning
E. Financial Modeling
1. Risk Assessment
2. Asset Allocation
III. Tax Law & Planning (25%)
A. Income Tax
1. Individuals
2. Fiduciaries
3. Charitable Trusts, Private Foundations, and Split Interest Trusts
4. Business
B. Transfer Tax
1. Gift Tax
2. Estate Tax
3. Generation-Skipping Transfers (GST)
IV. Investment Management (20%)
A. Economics and Markets
1. Gross Domestic Product
2. Interest Rates
3. Inflation & Employment
4. Government Fiscal Policy
5. Monetary Policy
6. International Influences
7. Market Operations
8. Currency
B. Portfolio Management Theories and Concepts
1. Modern Portfolio Theory
2. Equity Investment Management Approaches
3. Fixed Income Investment Management Approaches
4. Hedging Strategies
5. Risk Management
6. Total Return
C. Types of Investments/Selection & Analysis
1. Equities
2. Fixed Income
3. Convertible Securities
4. Mutual Funds
5. Common Trust Funds
6. Closely-Held Businesses
7. Real Estate & Farms
8. International
9. Nontraditional
10. Master Limited Partnerships
11. Stock Options
12. ETFs
13. Oil, Gas & Minerals
14. Commodities & Precious Metals
D. Client Objectives & Constraints
1. Investment Objectives
2. Risk Tolerance
3. Time Horizons
4. Tax Considerations
5. Current vs Future Objectives 6. Investment Restrictions & Preferences
7. Asset Allocation
E. Performance Measurement
1. Time-Weighted vs. Dollar-Weighted
2. Risk Adjusted
3. Benchmarks & Indicies
V. Ethics (5%)
A. Advisory
1. Unauthorized Practice of Law
2. Conflict of Interest
3. Confidentiality
4. Undue Influence
5. Related Parties
6. Client Competence/Capacity
B. Fiduciary
1. Duty of Loyalty
2. Breach of Trust
3. Trust Officer as Beneficiary
4. Personal Liability
5. Self Dealing
6. Gifts to/from Clients & Vendors
C. Business Development
1. Business Solicitation
2. Compensation Arrangements
D. Investment
1. Insider Information
2. Equal Treatment of Accounts
3. Directed Brokerage
4. Disclosures
5. Prudent Investor Standard
E. Other
1. Relationship with Other Professionals
2. Fraud Prevention

Certified Trust and Financial Advisor (CTFA)
Financial Certified pdf
Killexams : Financial Certified pdf - BingNews Search results Killexams : Financial Certified pdf - BingNews Killexams : Need help paying rent or buying your first home? Here are financial assistance programs in Miami-Dade No result found, try new keyword!Miami-Dade County residents are coping with a protracted housing-affordability crisis. Finding an affordable home to buy or rent in an area with a dwindling supply of available housing often is ... Sat, 15 Oct 2022 07:22:00 -0500 text/html Killexams : 95. Certified Financial Group

Certified Financial Group, based in Altamonte Springs, FL, is ranked No. 95 on the 2022 CNBC Financial Advisor 100 list. This is the firm's first appearance on CNBC's FA 100 list.

Total AUM: $2.2B

Years in Business: 23

Accounts Under Management: 5,000

Previous appearances on FA 100 List: 0


Sheri Cuff, President

Joseph Bert, Chief Executive Officer


1111 Douglas Avenue, Altamonte Springs, FL 32714

(407) 869-9800

Tue, 04 Oct 2022 02:18:00 -0500 en text/html
Killexams : How Will The COLA Increase Affect Your Retirement
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in the United States has been hovering at or near a 40-year high in exact months, and the entire country seems to be feeling the squeeze of rising prices, regardless of income level.

Understandably, American consumers have questions and concerns. First, as the value of the dollar decreases, which lifestyle adjustments can be made to compensate for the loss in buying power?

Second, won't somebody do something?

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Find A Qualified Financial Advisor

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Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

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This year, the Federal Reserve has taken action by raising interest rates several times in an effort to curb spending and cut demand, ideally forcing the price of goods down, or at the very least, leading them to stagnate.

But lately, the Fed has been criticized by experts thinking that their actions may not be having the desired effect, and instead may be bringing on a .

So, what other actions can the government take to protect people from inflation? For retirees and those collecting Social Security benefits, the Social Security Administration implements an annual cost-of-living adjustment, or COLA.

Big Raise In The COLA

– the highest increase in 40 years. The SSA to counter inflation for Social Security. Social Security beneficiaries, which include individuals who have reached at least the age of 62 or have qualifying disabilities, can receive an increase in their benefit based on the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers, or the . 

For example, at the beginning of this year, Social Security beneficiaries may have noticed their . That addition didn't happen by chance or because of a missed decimal point in the accounting department. It was a carefully constructed adjustment based on , ideally giving those living on fixed income an offset against rising costs.

Retiring isn't easy, and there's a reason workers open IRAs and employer-sponsored retirement accounts such as 401(k)s early in their careers to begin building for the future. Retirement comes with a great deal of financial risk, and one of the biggest contributors to that risk is inflation.

Retirees often live on fixed incomes, withdrawing money from savings accounts, retirement accounts, pensions, annuities, investments and Social Security to cover their living expenses.

Though a proper financial plan accounts for inflation, it can be difficult to foresee spikes such as those seen in 2021 and 2022, potentially upsetting expectations of how long your money will last.

Though imperfect, the COLA can offer retirees an increase in a key source of retirement income, hopefully offsetting the compounding effect of inflation that can occur over the course of decades.

The COLA Doesn't Always Cover Inflation

Though an increase in your Social Security check might sound entirely positive, there are drawbacks to COLA and the problems it aims to correct. The COLA is intended to cover the difference between the current and previous year's costs of living, but it is possible that the extra money in your benefit will only partly cover your increased living expenses.

The calculations used by Social Security to compute the COLA are not necessarily aligned with overall inflation, thus it's possible for prices to rise faster than Social Security's adjustment.

For example, 2021 inflation was 7% while the COLA only increased by 5.9%. Also, the COLA can remain unchanged year over year, as it did in 2009, 2010 and 2015, when inflation rose , respectively.

While not completely reflective of each other, the COLA and inflation do correlate, but . In fact, in 2021, wages and salaries actually saw a .

Though this doesn't directly affect Social Security beneficiaries, the Social Security trust funds are built by contributions from income taxes. It stands to reason that inflation outpacing wages would mean that the Social Security trust funds, which currently project to only be able to pay at their current rate , would deplete even quicker.

As dependable and helpful as Social Security and a COLA can be to a retiree, inflation can be fickle and, as exact times indicate, difficult to control.

Therefore, developing the right financial plan can be the difference between having adequate funds for your desired lifestyle or running out of money. Social Security is only one income stream, and backup plans with alternative sources of income are vital.

Article By Benjamin J. Koval

About Benjamin J. Koval, MBA, CFP®

Benjamin J. Koval is president and founder of . He is an MBA, a Certified Financial Planner™, and an Investment Advisor Representative (IAR) holding a Series 65 license. Koval is also a Washington state-licensed life insurance producer. He earned his MBA and BS in business administration from the University of Nevada, Reno.


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Sun, 16 Oct 2022 01:23:00 -0500 Date text/html
Killexams : Yes, ‘Financial Infidelity’ Is a Form of Cheating—And It Can Bankrupt Your Relationship
Much like emotions, time, and energy, money is very much on the list of things you’ll naturally invest in a relationship, whether you’re spending directly on your partner or on the things you do together. And just as the emotional and energetic investments you make for a partner have an effect on their livelihood, so, too, do the financial investments you’re capable of contributing to the partnership. As a result, withholding key financial details from a partner can be a form of infidelity, similar to physical or emotional cheating for the ways in which it misleads a partner about your overall commitment to the relationship.

“Whether or not you’ve chosen to merge your finances with a partner, your financial situation will likely affect your relationship,” says Maya Maria Brown, relationship expert and creative strategist at relationship wellness app Coupleness. “For example, if your partner wants to go on lavish vacations and expects to split the bill, but that’s not in your budget, you’d need to talk about your monetary approach to vacation planning. Or, if you’re expecting to receive an inheritance and plan to donate a large portion of it, but your partner would like you to keep it for your future together, there’s a discussion to be had there.”

“If you’re not honest about your financial situation upfront, it’s likely that when the truth eventually comes out, your partner will feel misled.” —Maya Maria Brown, relationship expert

Overall, the life-blending that happens in a romantic relationship tends to implicate the money of all parties involved—which is the big reason why keeping money matters a secret can have the effect of cheating on a partner. “If you’re not honest about your financial situation upfront, it’s likely that when the truth eventually comes out, your partner will feel misled,” says Brown. Not to mention, purposefully withholding any information from your partner about something that involves them can degrade trust in your relationship.

But just like with emotional and physical cheating, financial infidelity isn’t always so clear-cut in practice. Do you have to reveal everything about your financial picture to a partner? And at what point in a relationship should you share money matters? Below, financial and relationship experts break down what financial infidelity really looks like, why some people do it, and how steering clear of it by way of honest money talks can help safeguard your relationship.

What constitutes financial infidelity?

Hiding any financial matters from your partner in a way that deceives them about your financial status can be seen as a form of infidelity, says financial coach Dasha Kennedy, wellness expert at wedding-planning website The Knot. Even if you don’t intend on deceiving your partner, keeping secrets about the money you have (or don’t) can have that effect—much like flirting with someone who isn’t your partner could be perceived as emotional cheating even if you didn’t set out to cheat on or hurt your partner.

Because every relationship is different, however, there’s not a singular rule for which money matters should be divulged in order to avoid being financially unfaithful. That’s why it’s so important to align with your partner early about the money courses you will and won't share in the same way you would communicate any other relationship expectations, says Brown.

Generally, however, if you would feel dishonest for not being open about a particular piece of your financial puzzle, that’s a good sign that withholding it constitutes financial infidelity, says Brown. “This could include any debt you have, like credit-card debt or student loans, savings, an impending inheritance, your credit score, any investments you’ve made, and your spending habits.”

Withholding these kinds of things can quickly rise to the level of financial infidelity because of the ways in which they’re linked with elements of your personality, your past, and the life you may be able to lead in the future. And in many cases, the consequences—good or bad—of these secret savings, debts, or investments will directly implicate a partner down the line, raising the question of why you hid them in the first place.

“One of the most common financial matters that I’ve seen spouses hide from each other is a personal credit card,” says divorce attorney Hailee Zabrin, income partner at the law firm Berger Schatz. “Often, one person will do this to charge personal expenses that they do not want their spouse to know about for whatever reason.” But then, should they not be able to pay the credit card charges with personal funds, the debt is suddenly the problem of the previously unknowing spouse, she says.

Even in situations outside marriage or where the partner is not made responsible for a financial matter that was previously kept from them, the act of withholding key financial realities can be considered infidelity. This is true for the same reason that making secret emotional investments could be considered emotional cheating: A partner doesn’t have to find out about an unfaithful act for it to constitute cheating.

Why are some people tempted to withhold the truth about their finances from a partner?

The underlying reason for financial infidelity is different in folks who are dishonest about a financial challenge (like debt, loans, or a credit-card spending habit) versus people who are hiding a financial perk (like a secret savings account, trust fund, or inheritance).

In the case of the former, it’s likely that the choice to keep it on the down low is springing from a place of shame or fear, says Brown. Perhaps they’re thinking that their partner might think differently of them (or even leave them) should they find out about the secret debt or loans. Whereas in the case of the latter, the person may be holding onto a secret stash of money and may be struggling with trust issues or feeling unsafe in the relationship, says Brown.

“It’s best to be honest about money challenges, both because they could affect your partner, and so that your partner can help you work through them.”  —Brown

If you fit into the first category, Brown suggests speaking to a therapist in order to get more comfortable sharing what’s going on with your partner. “It’s best to be honest about money challenges, both because they could affect your partner, and so that your partner can help you work through them,” she says. And if you’re in the second category, it’s worth doing a bigger evaluation of the quality of your relationship as a whole. Holding onto money out of a lack of trust for your partner could signify that it’s time to leave the relationship, says Brown.

Why sharing financial matters with a partner is so important

As noted above, your financial standing directly implicates your partner’s livelihood. “A financial windfall like an inheritance, or challenges like debt, a bad credit score, or poor spending habits could influence your partner’s life,” says Brown.

For married folks, that influence is legal: “In the State of Illinois, for example, when two people are married and one spouse incurs debt during the marriage and then does not pay their creditors, those creditors can obtain a judgment against an asset that the spouses hold jointly,” says Zabrin. “If the judgment isn’t satisfied, the jointly held property can be sold or liquidated to satisfy the debt of just one spouse.”

But even in unmarried relationships, the financial status of one person could certainly have a direct effect on how the other can live their life. “Money impacts every decision you and your partner will make,” says Kennedy, “determining where you live, what type of dates you can go on, and even the decisions to have children or get married.” Though these things might not be on your radar early in a relationship, “once you start having conversations with a partner about merging aspects of your lives, talking about your financial situation is an important step in making those plans,” says Brown.

Perhaps the most essential thing to discuss with a partner first is your spending habits, says Kennedy. “Knowing your partner’s spending risk factors, or whether they tend to spend impulsively or responsibly, can help you get on the same page about investing, paying off debt, and managing bank accounts.” Once you’ve started having these kinds of money conversations, you can then dive even further into “how you’re feeling about your finances, what makes you nervous, and what’s on your wishlist,” says Brown.

Achieving this kind of deep financial alignment with a partner can be a major boon for the longevity of your relationship, helping you avoid the money disagreements often cited as a key cause of divorce.

And from an even bigger-picture lens, being open about money can engender more intimacy and connection in your relationship overall. Not only does talking about your finances free you from the stressful burden of keeping a secret from your partner, but also, it reassures your partner that you’re comfortable being vulnerable with them. (Whereas a partner who is lied to about money is bound to question what else you might be lying to them about, says Brown.)

In this way, financial compatibility and openness is important for reasons that stretch far beyond the practical, says Kennedy: “It plays such a huge role in the success of a relationship because it shows a couple’s ability to communicate effectively about sensitive topics.”

Thu, 06 Oct 2022 12:00:00 -0500 en text/html
Killexams : Haivision Products Certified by DoD

MONTREAL—A group of video distribution solutions from Haivision Systems has been certified and added to the U.S. Department of Defense’s approved products list. 

Haivision announced that members of its Haivision, Makito and Kraken video distribution systems received certification from the Department of Defense Information Network (DoDIN) Approved Products (APL) list. The list is a consolidated grouping of communication and collaboration products that have completed cybersecurity and interoperability certification and have been deemed secure, trusted and certified for deployment within the Department of Defense’s technology infrastructure.