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CES Certified Exchange Specialist VIP Practice Exam

CES — The Certified Exchange Specialist (CES) designation is issued by the Federation of Exchange Accommodators (FEA); the credentialing exam covers IRC Section 1031 like-kind exchange mechanics, qualified intermediary obligations, timing and identification rules, boot calculations, reverse and improvement exchanges, and related IRS regulations — typically ~100 questions administered under proctored conditions.

30
Questions
120m
Time Limit
75.00%
To Pass
Question 1 of 30👑 VIP

Martha owns a duplex she has rented to tenants for six years and wants to exchange it for a commercial warehouse. Under IRC Section 1031, which requirement is the MOST critical for the duplex to qualify as relinquished property in a tax-deferred exchange?

Questions 2–30 and full explanations are VIP-exclusive.