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Free CRA — Chartered Retirement Advisor Exam Questions and Answers
Last updated: March 30, 2025
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CRA — Chartered Retirement Advisor
#Question
Roger is planning to sell his primary residence and downsize. What tax implication should he understand?
A.
No implications
B.
Increased property taxes
C.
Sales tax on transfer
D.
Capital gains exclusions
Correct Answer:
D
Understanding capital gains exclusions can help minimize taxes owed on the sale of a primary residence, which is critical when downsizing.
#Question
Nancy wants to create a financial plan that supports her retirement lifestyle. What tool can help her define her needs?
A.
Passive investments
B.
Diversification portfolio
C.
Retirement calculator
D.
Time saved
Correct Answer:
C
A retirement calculator can aid Nancy in assessing her savings needs and planning for her desired retirement lifestyle effectively.
#Question
Tim is proud of his home equity. What should he consider before accessing it for retirement?
A.
All of the above
B.
Ignoring repayment terms
C.
Impact on future estate
D.
Tax implications
Correct Answer:
C
Considering how accessing home equity affects future estate values is essential for comprehensive retirement planning.
#Question
Jenna is approaching 62 but considering delaying her Social Security. What advantage should she weigh?
A.
Risk of outliving savings
B.
Increased competition
C.
Higher monthly benefits
D.
Uncertain health conditions
Correct Answer:
C
Delaying Social Security until age 70 generally results in higher monthly benefits, enhancing financial security in later retirement years.
#Question
Matt just turned 60. What retirement strategy should he consider to protect his investments?
A.
Invest in collectibles
B.
Buy more stocks
C.
Create a diversified portfolio
D.
Ignore market trends
Correct Answer:
C
Creating a diversified portfolio manages risk and can protect investments against volatility as retirement approaches.
#Question
Carl is planning a second career during retirement. What should he ensure?
A.
Keep hours flexible
B.
Avoid networking
C.
Ignore job satisfaction
D.
Focus on income exclusively
Correct Answer:
A
Keeping hours flexible allows for better work-life balance and enables Carl to enjoy his second career alongside retirement lifestyle.
#Question
Laura is reviewing her auto insurance policies as she nears retirement. What should she be mindful of?
A.
Check coverage limits
B.
Compare costs with other plans
C.
Review renewal dates
D.
All of the above
Correct Answer:
D
Reviewing all aspects of insurance policies ensures that coverage remains adequate and costs are competitive as she approaches retirement.
CRA — Chartered Retirement Advisor
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Q5: What types of AIWMI Certification Exams are available? A: AIWMI offers various certification paths, including the Chartered Wealth Manager (CWM®), Certified Credit Research Analyst (CCRA®), and Certificate in Family Office Advisor (CFOA), each tailored to specific roles and expertise levels in wealth management and financial services.
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Q9: Are there any prerequisites for AIWMI Certification Exams? A: Some exams may have prerequisites, such as foundational knowledge or prior certifications. Check the specific requirements for each certification path on the AIWMI website.
Q10: How often do I need to recertify for AIWMI Certifications? A: AIWMI Certifications typically require continuing education and periodic recertification to ensure that certified professionals stay updated with the latest industry practices and financial regulations.
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