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American Bankers Association Certified Trust and Financial Advisor Exam Questions
- Topic 1: Classify transactions using principal and income accounting/ Adhere to investment regulatory requirements
- Topic 2: Identify economic and market outlook concepts/ Identify and interpret duties related to legal structure
- Topic 3: Identify, disclose, and/or avoid potential conflicts of interests/ Identify and interpret types of ownership interests
- Topic 4: Recognize the signs of financial and elder abuse and how and when to reporting/ Understand and articulate fiduciary responsibilities
- Topic 5: Review nature and characteristics of legal entity structure and account capacity/ Educate clients regarding the use of insurance to mitigate risk
- Topic 6: Recommend an appropriate investment strategy based on goals and objectives/ Understand and articulate fiduciary principles
- Topic 7: Perform administrative reviews pursuant to internal policies or external regulations/ Understand and apply knowledge of federal estate and gift tax
- Topic 8: Execute the pre-acceptance process to eliminate potential risk/ Profile and understand a client?s risk appetite
- Topic 9: Implement multi-asset class investment strategy/ Comprehend and articulate fiduciary responsibilities
- Topic 10: Apply the formal requisites of establishing a fiduciary account/ Understand and explain fiduciary income tax
- Topic 11: Maintain compliance with Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)/ Identify, communicate, and apply generation-skipping transfer tax
Free American Bankers Association Certified Trust and Financial Advisor Exam Actual Questions
Note: Premium Questions for Certified Trust and Financial Advisor were last updated On Jul. 12, 2024 (see below)
___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.
The financial statements of which accounts maintained by insurance company that must be presented separately from the insurance company's general account business?
___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.
Financial statements of a self-sustaining foreign operation are translated using the current rate method whereby assets and liabilities are translated in the reporting currency using the exchange rate.
Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?
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