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The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this website to document my study notes, and I hope you find them helpful in your own preparation.
"Open Exam Prep" is your ultimate companion for mastering the exam. Designed for aspiring financial professionals, this podcast breaks down complex topics into clear, digestible episodes, covering everything from tax planning and estate strategies to retirement solutions and investment principles.
Each episode includes focused explanations, practical examples, and exam tips to help you understand key concepts, stay confident, and pass with success. Whether you’re studying during your commute, workout, or downtime, Open Exam Prep is here to guide you—one question, one topic, one victory at a time.
Visit for more content: https://open-exam-prep.com/
"Open Exam Prep" is your ultimate companion for mastering the exam. Designed for aspiring financial professionals, this podcast breaks down complex topics into clear, digestible episodes, covering everything from tax planning and estate strategies to retirement solutions and investment principles.
Each episode includes focused explanations, practical examples, and exam tips to help you understand key concepts, stay confident, and pass with success. Whether you’re studying during your commute, workout, or downtime, Open Exam Prep is here to guide you—one question, one topic, one victory at a time.
Visit for more content: https://open-exam-prep.com/
149 Episodes
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![[Retirement] 28, 457 Plans](https://s3.castbox.fm/af/dd/eb/cefd9ae68aed2cf039de64beb11a2fa495_scaled_v1_400.jpg "[Retirement] 28, 457 Plans")
Nonqualified deferred compensation plans for government and tax-exempt entities, with special catch-up provisions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Available to public schools and certain nonprofits, with unique contribution limits and catch-up provisions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Designed for small employers, allowing employee deferrals and employer contributions, with specific eligibility and contribution limits. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Include ISOs and NQSOs, providing employees the right to purchase stock at a set price, with specific tax treatments. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Offer benefits to select employees without the restrictions of qualified plans, often involving deferred compensation. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Roth IRAs offer tax-free withdrawals and no required minimum distributions, while traditional IRAs offer tax-deferred growth. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Qualified plans have specific rules for distributions, including penalties for early withdrawals and required minimum distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Employee stock ownership plans provide stock to employees, with special rules for voting rights and distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow conversion of traditional IRAs to Roth IRAs, with tax implications based on the conversion amount. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contributions are limited by earned income and age, with catch-up contributions allowed for those over 50. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined benefit and cash balance plans require actuarial calculations to determine funding needs. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Include defined benefit, cash balance, money purchase, and target benefit plans, each with unique funding and benefit structures. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contribution limits for defined contribution plans are capped at the lesser of 100% of compensation or a specified dollar amount. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Require additional contributions for non-key employees if key employees hold more than 60% of plan assets. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined contribution plans often use a 2-6 year graduated or 3-year cliff vesting schedule. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow employers to contribute stock, with tax benefits for net unrealized appreciation on distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow employee deferrals, often with employer matching, and are subject to ADP and ACP nondiscrimination tests. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contributions are discretionary but must be substantial and recurring, with limits based on employer compensation. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allows plans to provide additional benefits to employees earning above the Social Security wage base. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined as owning more than 5% of the company or earning over a specified amount, affecting plan testing. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
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