Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions

American Bankers Association Certified Trust and Financial Advisor Exam

Certification Provider: American Bankers Association
Exam Name: Certified Trust and Financial Advisor
Duration: 240 Minutes
Number of questions in our database: 895
Exam Version: Mar. 01, 2024
Exam Official Topics:
  • 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

The questions for Certified Trust and Financial Advisor were last updated On Mar. 01, 2024

Question #1

What is made on an instrument-by-instrument basis, generally when an instrument is initially recognized in the financial statements?

Reveal Solution Hide Solution
Correct Answer: A

Question #2

Monetary items and non-monetary items carried at market value are translated into the reporting currency at the rate of exchange in effect on the balance sheet date under:

Reveal Solution Hide Solution
Correct Answer: C

Question #3

___________ 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.

Reveal Solution Hide Solution
Correct Answer: B

Question #4

Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?

Reveal Solution Hide Solution
Correct Answer: C

Question #5

___________ 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.

Reveal Solution Hide Solution
Correct Answer: B


Unlock all Certified Trust and Financial Advisor Exam Questions with Advanced Practice Test Features:
  • Select Question Types you want
  • Set your Desired Pass Percentage
  • Allocate Time (Hours : Minutes)
  • Create Multiple Practice tests with Limited Questions
  • Customer Support
Get Full Access Now
Disscuss American Bankers Association Certified Trust and Financial Advisor Topics, Questions or Ask Anything Related

Save Cancel