AFK Cheat Sheet 2026

The 30 highest-yield AFK facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What regulatory compliance requirement applies to estate planning? → Full compliance with all applicable federal, state, and industry regulations
2. What is the minimum age requirement for taking the AFK Test? → 18 years
3. How should risk be assessed in regulatory compliance? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
4. The 'multiplier effect' in economics describes: → How an initial change in spending can lead to a larger total change in economic output
5. What continuing education requirement supports financial planning competence? → Ongoing education in regulatory changes, market developments, and best practices
6. What continuing education requirement supports portfolio management competence? → Ongoing education in regulatory changes, market developments, and best practices
7. What is the primary advantage of a SEP IRA for a self-employed individual compared to a traditional IRA? → Much higher contribution limits
8. How should conflicts of interest be managed in regulatory compliance? → Identify, disclose, and mitigate all actual and potential conflicts of interest
9. What continuing education requirement supports client relations competence? → Ongoing education in regulatory changes, market developments, and best practices
10. Are international graduates eligible to take the AFK Test? → Yes, after credential evaluation and approval
11. How should portfolio management performance be reported to clients? → Provide accurate, complete, and timely performance reporting with appropriate benchmarks
12. A variable annuity differs from a fixed annuity primarily because its value is: → Linked to the performance of underlying investment sub-accounts
13. What is the format of the questions in the AFK Test? → Multiple-choice questions
14. How should financial planning performance be reported to clients? → Provide accurate, complete, and timely performance reporting with appropriate benchmarks
15. How is the AFK Test structured? → A computer-based multiple-choice exam
16. What does vesting in a 401(k) employer match refer to? → The employee's ownership of employer-contributed funds over time
17. How is the AFK Test administered? → At designated proctored testing centers
18. Which type of annuity guarantees a fixed interest rate for a specified period and is not tied to market performance? → Fixed annuity
19. How should conflicts of interest be managed in investment analysis? → Identify, disclose, and mitigate all actual and potential conflicts of interest
20. How should tax strategies performance be reported to clients? → Provide accurate, complete, and timely performance reporting with appropriate benchmarks
21. Which Social Security claiming strategy maximizes lifetime benefits for a healthy individual expected to live well beyond average life expectancy? → Delaying until age 70
22. What fiduciary duty applies to tax strategies? → Act in the client's best interest with loyalty, care, and full disclosure
23. What additional requirement must international candidates fulfill? → Prove language proficiency in English or French
24. How should risk be assessed in risk assessment? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
25. Which statement about the relationship between bond prices and interest rates is correct? → Bond prices and interest rates move in opposite directions
26. Universal life insurance differs from whole life insurance primarily because it offers: → Flexible premiums and an adjustable death benefit within policy limits
27. What is the 4% rule in retirement planning? → Withdraw 4% of the portfolio in year one, then adjust for inflation each year
28. What regulatory compliance requirement applies to portfolio management? → Full compliance with all applicable federal, state, and industry regulations
29. Under the Social Security full retirement age rules, what is the full retirement age for individuals born in 1960 or later? → 67
30. How should estate planning performance be reported to clients? → Provide accurate, complete, and timely performance reporting with appropriate benchmarks