PFS Cheat Sheet 2026

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

1. The PFS (Personal Financial Specialist) credential is awarded exclusively by which organization? → American Institute of CPAs (AICPA)
2. In Classroom Management & Support, what is the FIRST step a PFS professional should take when encountering a new case or situation? → Conduct a comprehensive assessment and gather all relevant information
3. When a conflict arises between standard procedures and a unique situation in Reading & Literacy Support, what should a PFS professional prioritize? → Safety and ethical obligations while seeking expert consultation
4. In property and casualty insurance, 'subrogation' gives the insurer the right to: → Recover a paid loss from the negligent third party responsible
5. What is the primary objective of asset allocation in investment planning? → Balance risk and return
6. Which personal finance ratio measures the percentage of income directed toward savings and investments? → Savings ratio
7. UGMA/UTMA custodial accounts differ from 529 plans most significantly because UGMA/UTMA assets: → Become the minor's unrestricted property at the age of majority
8. In Student Learning & Development, what is the FIRST step a PFS professional should take when encountering a new case or situation? → Conduct a comprehensive assessment and gather all relevant information
9. Which tax strategy helps reduce taxable income by deferring it to a later year? → Tax deferral
10. Which of the following documents is most commonly used to transfer assets after death? → Will
11. At what age can individuals begin taking required minimum distributions (RMDs) from most retirement accounts? → 73
12. The debt-to-income (DTI) ratio is primarily used in financial planning to evaluate a client's: → Ability to manage and service existing and new debt
13. Which standard of practice is MOST important for ensuring quality in Instructional Strategies & Methods? → Following evidence-based protocols while adapting to specific circumstances
14. A 'shared care' rider on a long-term care (LTC) insurance policy allows: → Spouses to draw from a combined benefit pool if one exhausts their own benefits
15. A disability income policy with an 'own-occupation' definition pays benefits when the insured: → Cannot perform the material duties of their specific occupation
16. Which standard of practice is MOST important for ensuring quality in Special Education Support? → Following evidence-based protocols while adapting to specific circumstances
17. Which type of retirement plan is typically sponsored by employers and allows for employee salary deferrals? → 401(k)
18. Which standard of practice is MOST important for ensuring quality in Behavior Management Techniques? → Following evidence-based protocols while adapting to specific circumstances
19. What is the maximum annual elective deferral an employee can contribute to a 401(k) plan in 2024 (excluding catch-up contributions)? → $23,000
20. In Special Education Support, what is the FIRST step a PFS professional should take when encountering a new case or situation? → Conduct a comprehensive assessment and gather all relevant information
21. Under the FAFSA formula, student-owned assets are assessed at what rate versus parent-owned assets? → A higher rate—20% for student assets vs. up to 5.64% for parent assets
22. What is the PRIMARY purpose of continuing education requirements in Behavior Management Techniques for PFS professionals? → Maintaining current knowledge and competency as the field evolves
23. An inflation protection rider on a long-term care policy is important primarily because: → It increases the daily benefit to keep pace with rising care costs over time
24. When a conflict arises between standard procedures and a unique situation in Behavior Management Techniques, what should a PFS professional prioritize? → Safety and ethical obligations while seeking expert consultation
25. What is the PRIMARY purpose of continuing education requirements in Assessment & Progress Monitoring for PFS professionals? → Maintaining current knowledge and competency as the field evolves
26. What is the PRIMARY purpose of continuing education requirements in Communication with Teachers & Parents for PFS professionals? → Maintaining current knowledge and competency as the field evolves
27. Which of the following is considered a fixed-income investment? → Bonds
28. When a conflict arises between standard procedures and a unique situation in Special Education Support, what should a PFS professional prioritize? → Safety and ethical obligations while seeking expert consultation
29. The elimination period in a disability income policy functions most like which feature in property insurance? → Deductible
30. Most long-term care insurance policies define benefit eligibility as the inability to perform at least how many Activities of Daily Living (ADLs)? → 2 of 6