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Continuing Education credit — November 2020

As a subscriber to, you can earn up to 12 hours of CE credit from the CFP Board and the Investments & Wealth Institute.

Please read the articles and answer the questions below. To find the related article, click on the hyperlinked title of the story – both online-only articles as well as stories published in the magazine.

You must answer 8 of the 10 questions correctly to qualify for CE credit.

Financial Planning does not email a certificate of completion. Please take a screenshot of the results screen, and keep the confirmation for your records. Financial Planning reports results to the CFP Board weekly. The board may take an additional two weeks to post results.

If you need assistance, please contact our Customer Success Team
1.  A Passive Foreign Investment Corporation is a foreign corporation with at least what percentage of its income derived from passive investments? *This question is required.
2. If a client willfully fails to submit needed paperwork for her foreign accounts under Foreign Bank Account Reporting Rules, what will the penalty be? *This question is required.
3. A client must report a foreign bank account to the IRS if it has assets more than how much? *This question is required.
4. A client can avoid a penalty if they withdraw money from a traditional IRA for unreimbursed medical expenses, as long as these expenses exceed what percentage of her adjusted gross income? *This question is required.
5. If a client transfers her assets from an IRA to an HSA, there is a testing period of around 13 months. If the client drops her high-deductible coverage during this time, and becomes ineligible to contribute to an HSA, she faces income tax on the transferred sum as well as what percentage of additional tax? *This question is required.
6. The Secure Act allows penalty-free retirement account withdrawals for parents who have given birth to or adopted a child. This exception is limited to how much per child? *This question is required.
7. Per the Secure Act, any financial institution allowing post-age 70 ½ IRA contributions must amend its contracts to update their disclosure agreements given to IRA owners. These updates can be delayed until at least what date? *This question is required.
8. Per the Secure Act, non-spouse beneficiaries of tax-deferred retirement accounts can avoid annual RMDs for deaths occurring after 2019. However, they must empty these accounts by what time? *This question is required.
9. Failure to comply with the above would trigger which penalty on the undistributed amount? *This question is required.
10. Which of these funds had the worst 10-year return as of Oct. 8, 2020? *This question is required.
This question requires a valid email address.