The CRPC (Chartered Retirement Planning Counselor) is a professional designation awarded by the College for Financial Planning. It is designed for financial advisors who specialize in helping clients navigate the transition into retirement — covering everything from Social Security optimization and Medicare enrollment to required minimum distributions and estate planning basics.
Our free CRPC practice test PDF gives you 40 exam-style questions spanning all major domains of the designation curriculum. Print it out and study offline, or pair it with our interactive CRPC practice test for scored online practice with instant answer explanations.
The CRPC curriculum focuses on the pre-retirement and post-retirement needs of individual clients. Below are the key topic areas tested on the designation examination:
You need to determine a client's retirement income needs using two primary methods: the replacement ratio method (estimating income as a percentage of pre-retirement earnings) and the expense method (projecting actual retirement spending). The exam tests how to integrate all income sources — Social Security, pensions, 401(k)/IRA distributions, and investment portfolio withdrawals — into a coherent retirement income plan.
Know the eligibility rules: workers need 40 credits (10 years of covered employment) to qualify for retirement benefits. Full retirement age (FRA) varies by birth year — for those born in 1960 or later, FRA is 67. Claiming early at 62 permanently reduces benefits by up to 30%. Delaying past FRA earns delayed retirement credits of 8% per year up to age 70. The exam also covers spousal benefits (up to 50% of the worker's benefit at FRA), survivor benefits, and the thresholds at which Social Security benefits become taxable (combined income over $25,000 for single filers, $32,000 for married filing jointly).
The four parts of Medicare are heavily tested. Part A covers inpatient hospital care with no premium for most workers who paid Medicare taxes for 10+ years. Part B covers outpatient services with a standard monthly premium. Part C (Medicare Advantage) is private insurance that replaces Parts A and B. Part D covers prescription drugs. Medigap policies supplement original Medicare. The exam tests enrollment periods, late enrollment penalties, and the income-related monthly adjustment amount (IRMAA) surcharges for high-income beneficiaries.
Understand defined benefit plans (guaranteed monthly income based on a formula) versus defined contribution plans (account-based, market-dependent). For 401(k), 403(b), and 457 plans, know the annual contribution limits, catch-up contributions available for participants age 50 and older, vesting schedules (cliff vs. graded), and required minimum distribution rules that apply after leaving employment.
The exam tests Traditional IRA deductibility (phased out at higher incomes if covered by a workplace plan), Roth IRA contribution eligibility (income limits apply), and the conversion strategy for moving Traditional IRA funds to a Roth. The backdoor Roth technique applies when income exceeds the direct contribution limit. Under SECURE Act 2.0, most non-spouse beneficiaries must distribute inherited IRA assets within 10 years of the original owner's death.
Under SECURE Act 2.0, the RMD starting age is 73 (rising to 75 in 2033). Calculate RMDs using the IRS Uniform Lifetime Table: divide the prior December 31 account balance by the distribution period factor for the owner's age. Know the aggregation rules — Traditional IRAs can be aggregated and the total RMD taken from one or more accounts, but 401(k) RMDs must be taken separately from each plan.
Sequence of returns risk describes how poor market returns early in retirement can permanently deplete a portfolio even if long-term average returns are acceptable. The bucket strategy segments assets into short-term (cash), medium-term (bonds), and long-term (equities) buckets. Withdrawal rate research — including the 4% guideline and more recent dynamic withdrawal strategies — is a core exam topic. Asset allocation glide paths reduce equity exposure as clients age.
Beneficiary designations on IRAs and retirement plans supersede instructions in a will — a common exam trap. Know the federal estate tax exemption amount (indexed for inflation), the step-up in basis at death for appreciated assets, and the role of power of attorney and healthcare directives in a retirement plan. The exam does not test advanced estate planning but does expect you to recognize when to refer clients to an estate attorney.
The exam covers traditional long-term care insurance policies, hybrid life insurance and annuity products with LTC riders, self-insurance calculations, and Medicaid planning basics. Understand the activities of daily living (ADLs) trigger for LTC benefits and the elimination period during which clients pay out-of-pocket.
Prefer scored practice with instant feedback? Our interactive CRPC practice test lets you work through exam-style questions by domain and review detailed answer explanations. Use the printable PDF for deep-focus offline study and the online test for timed simulation — together they give you complete coverage of the College for Financial Planning CRPC curriculum.
Try these questions from our free CRPC - Chartered Retirement Planning Counselor practice tests. The correct answer and an explanation follow each question.
A client, aged 60, is planning for retirement and has assets in a taxable brokerage account, a Traditional 401(k), and a Roth IRA. To optimize for tax efficiency during retirement, placing which type of investment into the taxable brokerage account is generally the most strategic decision?
Answer: C. Tax-efficient index funds or ETFs
Asset location is a strategy that aims to minimize taxes by placing different types of assets in the most appropriate accounts. Tax-efficient investments, such as broad-market index funds or ETFs that generate primarily long-term capital gains, are best suited for taxable accounts. Tax-inefficient investments like corporate bonds and REITs, which generate ordinary income, are better placed in tax-deferred or tax-free accounts.
Moving averages, graphs, and statistics regarding the supply and demand of stocks are examples of what kind of analysis?
Answer: B. Technical analysis
Explanation: Technical analysis involves using moving averages, graphs, and statistics to study the supply and demand of stocks and predict future price movements. It focuses on historical price and volume data, rather than the intrinsic value of the stock.
Which of the following best supports a retiree's sense of generativity — contributing to others beyond oneself?
Answer: A. Volunteering, mentoring younger workers, or engaging in charitable giving
Generativity in retirement is expressed through activities that benefit others and future generations, such as mentoring, volunteering, and philanthropy.
A 65-year-old client is covered by her employer's high-deductible health plan (HDHP) and actively contributes to a Health Savings Account (HSA). She plans to keep working and wants to continue making HSA contributions. What is the MOST accurate advice regarding Medicare enrollment?
Answer: B. She should delay enrollment in both Medicare Part A and Part B.
To remain eligible to contribute to a Health Savings Account (HSA), an individual cannot be enrolled in any part of Medicare. Since the client is still working and has creditable coverage from her employer, she can delay enrolling in both Medicare Part A and Part B without penalty. Enrolling in either Part A or Part B would make her ineligible for further HSA contributions.
Take the full CRPC - Chartered Retirement Planning Counselor practice test