CRA — Chartered Retirement Advisor Income Practice Questions
The free CRA — Chartered Retirement Advisor questions that deal with income, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #4
Mark is 68 and still working. How will continuing to earn income affect his Social Security benefits if he starts taking them early?
Correct answer: C
Explanation
Earning income before full retirement age while receiving Social Security can reduce benefits, due to the earnings limit policy.
Question #7
Peter is considering a reverse mortgage to supplement his retirement income. What is a critical factor to understand before proceeding?
Correct answer: C
Explanation
Understanding how a reverse mortgage affects home equity is critical, as it can significantly impact the estate left for heirs.
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