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ABA CTFA Exam
Certified Trust and Financial Advisor (CTFA) (Page 15 )

Updated On: 1-Feb-2026
Page 15 of 91
PDF with 895 Questions

A 30-year bond issued by Gary's Plaid Pants Warehouse, Inc., in 1997 would now trade in the:

  1. Primary money market
  2. Secondary money market
  3. Primary capital market
  4. Secondary capital market

Answer(s): D



The Counting House, Inc., purchased 5-year property class equipment for $60, 000. It uses the MACRS method of depreciation. What is tax depreciation for the second year of the asset's life?

  1. $12, 000
  2. $19, 200
  3. $20, 000
  4. $24, 000

Answer(s): B



Michael Cohn is a "member" (a type of owner) of a marine supply business. Michael's business is:

  1. A sole proprietorship
  2. A corporation
  3. A limited liability company
  4. A general partnership

Answer(s): C



is a mortgage with a single large principal payment due at a specified future date.

  1. Fixed rate mortgage
  2. Balloon payment mortgage
  3. Adjustable rate mortgage

  4. Marginal rate mortgage

Answer(s): B



Prequalification provides estimates of required down payment and closing costs of different types of mortgages. It identifies in advance any problems such as:

  1. Credit report errors
  2. Bargaining power with the seller of a house
  3. Mortgage loans
  4. Earnest money deposit

Answer(s): A



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