CRPC Cheat Sheet 2026

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

1. What is the second step in the retirement planning process? → Gathering client data, including goals and expectations
2. Which of the following is a key characteristic that distinguishes a defined benefit pension plan from a defined contribution plan? → The plan specifies the benefit amount the employee will receive at retirement.
3. Moving averages, graphs, and statistics regarding the supply and demand of stocks are examples of what kind of analysis? → Technical analysis
4. An IRA owner's sole beneficiary is a spouse who is 15 years younger. Which IRS life expectancy table should be used to calculate the owner's RMDs? → Joint Life and Last Survivor Expectancy Table
5. What is a hybrid long-term care product? → A combination of life insurance or annuity with LTC benefits
6. What is the exclusion ratio used to calculate for a non-qualified immediate annuity? → The tax-free portion of each payment as a return of after-tax cost basis
7. Starting in 2024 under SECURE 2.0, which retirement account type was newly exempted from RMDs during the owner's lifetime? → Roth 401(k) plans
8. What is the 'free look' period for annuity contracts? → A state-mandated period (typically 10–30 days) to cancel the contract for a full refund
9. What is the Community Spouse Resource Allowance (CSRA)? → The minimum assets the at-home spouse may retain when their partner enters a nursing home
10. What should have no impact on your decision of when to receive Social Security benefits? → The earnings of your dependents.
11. If an IRA owner dies before their Required Beginning Date with no named beneficiary, what distribution rule generally applies? → 5-year rule
12. Under SECURE 2.0, what is the required minimum distribution starting age for an individual born in 1955? → Age 73
13. Regarding longevity annuities, why are payments larger than those received from a regular annuity? → Because of the delay in receipt of the actual payments.
14. What SHOULD have an impact on your decision of when to receive Social Security benefits? → The income benefit provided, additional sources of income, and condition of health.
15. What type of insurance is referred to as "pure" life insurance? → Term life insurance
16. What is the excise tax penalty for failing to take a required minimum distribution under SECURE 2.0? → 25% of the shortfall, reducible to 10% if corrected timely
17. Under the SECURE Act, within what maximum time period must most non-spouse beneficiaries fully distribute an inherited IRA? → 10 years
18. What does Jensen's alpha tell you? → The percentage a manager over or underperformed based on the amount of risk taken.
19. How is a traditional IRA's required minimum distribution calculated each year? → Prior year-end balance divided by the applicable life expectancy factor
20. What is the first step in the retirement planning process? → Establishing and defining the client-counselor relationship
21. Net short-term capital gains are treated as what type of income? → Ordinary
22. What is the typical countable asset limit for a single Medicaid applicant seeking nursing home benefits? → $2,000
23. When is the only time a living will be applicable? → When the declarant is in a terminal or similar condition.
24. When deciding how much to contribute to a Roth IRA, what is something you must always remember to consider about your client? → Their adjusted gross income (AGI).
25. Reverse mortgages can be used for what purpose? → To generate a lump sum that can be used to fund long-term care.
26. What role do Activities of Daily Living (ADLs) play in long-term care insurance policies? → They serve as a benefit trigger
27. What is the primary benefit of a long-term care insurance partnership program? → It protects assets equal to LTC benefits paid when applying for Medicaid
28. When conducting a retirement needs analysis using the replacement ratio method, which of the following is a primary assumption? → The client will have a lower effective tax rate in retirement.
29. Which long-term care insurance policy type pays a fixed daily benefit regardless of actual care costs? → Indemnity (per diem) policy
30. Which inflation protection rider is most commonly recommended for LTC insurance buyers under age 60? → 5% compound inflation