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PFS Exam Study Guide - CPA Personal Financial Specialist

Course Summary

Review practices in various areas of financial planning, such as tax planning and retirement planning, using this study guide resource. This course is designed to cover all of the topics you would expect to be tested on when taking the exam to obtain the Personal Financial Specialist (PFS) credential.
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15 Chapters in PFS Exam Study Guide - CPA Personal Financial Specialist

15 chapters in PFS Exam Study Guide - CPA Personal Financial Specialist

Ch 1. Personal Finance Planning Process {{cp.topicAssetIdToProgress[348395].percentComplete}}% complete
Course Progress Best Score
Lesson 1 - Assumptions in Financial Planning Score: {{cp.lessonAssetIdToProgress[348431].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348431].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Present and Future Value: Calculating the Time Value of Money Score: {{cp.lessonAssetIdToProgress[1984].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1984].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - What Are Financial Statements? - Definition, Purpose & Importance Score: {{cp.lessonAssetIdToProgress[9170].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[9170].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Credit & Debt in Personal Finance Score: {{cp.lessonAssetIdToProgress[62049].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[62049].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Financial Ratios in Personal Financial Planning Score: {{cp.lessonAssetIdToProgress[348435].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348435].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Financial Planning Considerations for Family Status Score: {{cp.lessonAssetIdToProgress[169199].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169199].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Financial Planning Considerations for Net Worth Score: {{cp.lessonAssetIdToProgress[169201].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169201].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Financial Planning Considerations for Life Stages Score: {{cp.lessonAssetIdToProgress[169205].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169205].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - What Is a Bank Loan? Score: {{cp.lessonAssetIdToProgress[7490].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[7490].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Mortgage Financing: Types & Issues Score: {{cp.lessonAssetIdToProgress[348437].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348437].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - What Is the Economic Environment in Business? - Definition, Importance & Factors Score: {{cp.lessonAssetIdToProgress[6603].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[6603].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - The Business Cycle: Economic Performance Over Time Score: {{cp.lessonAssetIdToProgress[1966].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[1966].bestScoreQuestions}}  Take Quiz Optional
Lesson 13 - Managing the Economy with Fiscal and Monetary Policies Score: {{cp.lessonAssetIdToProgress[2989].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[2989].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Organizational Structure & Ownership of a Business Score: {{cp.lessonAssetIdToProgress[56883].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[56883].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - U.S Tax Law: Overview & Basic Principles Score: {{cp.lessonAssetIdToProgress[169151].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169151].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Income Tax Issues in Personal Investments Score: {{cp.lessonAssetIdToProgress[47281].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[47281].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Income Tax: Tax Liability & Deductions Score: {{cp.lessonAssetIdToProgress[59894].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[59894].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Business Income Tax Calculations Score: {{cp.lessonAssetIdToProgress[40544].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[40544].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Tax Consequences & Deductions in Real Estate Transactions Score: {{cp.lessonAssetIdToProgress[63198].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[63198].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Alternative Minimum Tax: Definition & Example Score: {{cp.lessonAssetIdToProgress[89910].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[89910].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Personal Tax Planning Score: {{cp.lessonAssetIdToProgress[59895].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[59895].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Tax Shelters & Passive Activity Loss: Definition & Rules Score: {{cp.lessonAssetIdToProgress[63163].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[63163].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Understanding At-Risk Rules Score: {{cp.lessonAssetIdToProgress[169155].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169155].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Tax Implications of Special Circumstances Score: {{cp.lessonAssetIdToProgress[169157].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169157].bestScoreQuestions}}  Take Quiz Optional
Lesson 12 - Tax Planning for Charitable Contributions & Deductions Score: {{cp.lessonAssetIdToProgress[169159].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169159].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Estate Planning: Taxes, Trusts & Gifts Score: {{cp.lessonAssetIdToProgress[59904].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[59904].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Essential Estate Planning Documents: Importance & Strategies Score: {{cp.lessonAssetIdToProgress[169185].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169185].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Marital Deductions in Estate Planning: Rules & Strategies Score: {{cp.lessonAssetIdToProgress[169193].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169193].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Transferring Property Rights to a Personal or Family Trust Score: {{cp.lessonAssetIdToProgress[63105].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[63105].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Calculating Gift & Estate Tax: How-To & Example Score: {{cp.lessonAssetIdToProgress[169183].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169183].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Sources of Estate Liquidity Score: {{cp.lessonAssetIdToProgress[169187].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169187].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Trust Accounts: Definition & Management Score: {{cp.lessonAssetIdToProgress[63211].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[63211].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Trust Accounts: Types & Taxation Score: {{cp.lessonAssetIdToProgress[169191].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169191].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Intra-Family & Other Business Transfers: Definition & Benefits Score: {{cp.lessonAssetIdToProgress[169195].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169195].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Postmortem Estate Planning Strategies Score: {{cp.lessonAssetIdToProgress[169189].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169189].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Basis Step-up in Financial & Estate Planning Score: {{cp.lessonAssetIdToProgress[348449].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348449].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Insurance Coverage for Various Types of Risk Score: {{cp.lessonAssetIdToProgress[13146].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[13146].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Group Life Insurance: Definition & Types Score: {{cp.lessonAssetIdToProgress[244047].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[244047].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Individual Life Insurance: Types & Characteristics Score: {{cp.lessonAssetIdToProgress[348475].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348475].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Annuities: Types & Benefits Score: {{cp.lessonAssetIdToProgress[59898].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[59898].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - How to Find the Value of an Annuity Score: {{cp.lessonAssetIdToProgress[18822].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[18822].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Long-Term & Short-Term Disability Insurance Score: {{cp.lessonAssetIdToProgress[83262].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[83262].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Personal Property & Liability Insurance Score: {{cp.lessonAssetIdToProgress[59899].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[59899].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Home Insurance Policy: Forms & Examples Score: {{cp.lessonAssetIdToProgress[149988].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[149988].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Casualty Insurance Policy: Definition & Uses Score: {{cp.lessonAssetIdToProgress[169117].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169117].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Long-Term Care Insurance (LTCI): Definition & Features Score: {{cp.lessonAssetIdToProgress[169115].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169115].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Investment Risks: Definition & Types Score: {{cp.lessonAssetIdToProgress[169135].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169135].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Quantitative Investment Concepts: Definition & Examples Score: {{cp.lessonAssetIdToProgress[169137].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169137].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Return on Investment: Definition, Formula & Example Score: {{cp.lessonAssetIdToProgress[9539].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[9539].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Value of Stocks & Bonds: Factors & Calculation Score: {{cp.lessonAssetIdToProgress[169139].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169139].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Investment Portfolios: Development & Analysis Score: {{cp.lessonAssetIdToProgress[169141].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169141].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Investment Portfolios: Asset Allocation & Diversification Score: {{cp.lessonAssetIdToProgress[169143].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169143].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Successful Investment Plan Strategy: Components & Decisions Score: {{cp.lessonAssetIdToProgress[169145].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169145].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Alternative Investments: Definition, Benefits & Drawbacks Score: {{cp.lessonAssetIdToProgress[169147].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169147].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - The Investment Planning Process: Planning, Execution & Feedback Score: {{cp.lessonAssetIdToProgress[348491].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348491].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Investment Planning: Risk & Risk Tolerance Score: {{cp.lessonAssetIdToProgress[348495].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348495].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - What is Project Portfolio Management? - Definition, Process & Tools Score: {{cp.lessonAssetIdToProgress[65156].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[65156].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Modern Portfolio Theory: Definition & Examples Score: {{cp.lessonAssetIdToProgress[243695].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[243695].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - The Efficient Markets Hypothesis & Market Indices in Investment Planning Score: {{cp.lessonAssetIdToProgress[348501].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[348501].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - Investment Vehicles: Definition, Examples & Characteristics Score: {{cp.lessonAssetIdToProgress[169131].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169131].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Capital Asset Pricing Model (CAPM): Definition, Formula, Advantages & Example Score: {{cp.lessonAssetIdToProgress[17211].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[17211].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - Common Stock Valuation & Types of Growth Score: {{cp.lessonAssetIdToProgress[69832].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[69832].bestScoreQuestions}}  Take Quiz Optional
Course Progress Best Score
Lesson 1 - Retirement Planning: Steps & Calculating Needs Score: {{cp.lessonAssetIdToProgress[169163].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169163].bestScoreQuestions}}  Take Quiz Optional
Lesson 2 - Social Security: Legislation and Issues Score: {{cp.lessonAssetIdToProgress[10870].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10870].bestScoreQuestions}}  Take Quiz Optional
Lesson 3 - Medicare and Medicaid: Definitions & Functions Score: {{cp.lessonAssetIdToProgress[18529].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[18529].bestScoreQuestions}}  Take Quiz Optional
Lesson 4 - Sources of Income in Retirement Score: {{cp.lessonAssetIdToProgress[21669].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[21669].bestScoreQuestions}}  Take Quiz Optional
Lesson 5 - Understanding Retirement and Pension Plans Score: {{cp.lessonAssetIdToProgress[10871].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[10871].bestScoreQuestions}}  Take Quiz Optional
Lesson 6 - What is a Qualified Retirement Plan? - Rules & Options Score: {{cp.lessonAssetIdToProgress[169165].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169165].bestScoreQuestions}}  Take Quiz Optional
Lesson 7 - Traditional IRA: Definition & Benefits Score: {{cp.lessonAssetIdToProgress[169167].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169167].bestScoreQuestions}}  Take Quiz Optional
Lesson 8 - What Is a Roth IRA? - Definition, Rules & Benefits Score: {{cp.lessonAssetIdToProgress[16103].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[16103].bestScoreQuestions}}  Take Quiz Optional
Lesson 9 - Tax-Advantaged Retirement Investments: Types & Definitions Score: {{cp.lessonAssetIdToProgress[169169].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169169].bestScoreQuestions}}  Take Quiz Optional
Lesson 10 - Required Minimum Distributions for Retirement Savings Accounts Score: {{cp.lessonAssetIdToProgress[169171].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169171].bestScoreQuestions}}  Take Quiz Optional
Lesson 11 - Retirement Income Withdrawal Strategies Score: {{cp.lessonAssetIdToProgress[169173].bestScoreCorrect}}/{{cp.lessonAssetIdToProgress[169173].bestScoreQuestions}}  Take Quiz Optional

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