Mock paper #2
A full paper drawn to the blueprint. Answers and worked explanations are at the back of this file.
Single-user licence. You may print this file and write on it. You may not redistribute, resell or post it. © Sitonce 2026.
Sit this the way you will sit the real one. A mock done in pieces over three evenings measures your notes, not your recall.
| Area | Questions | Share |
|---|---|---|
| Retirement Savings and Income Planning | 31 | 18% |
| Investment Planning | 29 | 17% |
| General Principles of Financial Planning | 25 | 15% |
| Tax Planning | 24 | 14% |
| Risk Management and Insurance Planning | 19 | 11% |
| Estate Planning | 17 | 10% |
| Professional Conduct and Regulation | 13 | 8% |
| Psychology of Financial Planning | 12 | 7% |
| Total | 170 | 100% |
CFP Board does not publish a passing score. The commonly-quoted figure (around 60-70%) is the pass RATE - the share of candidates who passed a sitting - not the mark you need. Our readiness target is measured against our own question bank.
Circle one letter for each question.
170 questions. 360 minutes.
What is the rule of 72 used for?
Are required minimum distributions from 403(b) accounts aggregated in the same way as IRAs?
What is the strongest argument for passive management?
The paper carries one for every question, at the back. These are the three above.
Answer: C - Estimating how long money takes to double at a given rate
Because Dividing 72 by the annual percentage rate gives the approximate number of years to double. At 8% that is about 9 years, and the exact answer is 9.01.
It works in reverse too: 72 divided by the years available gives the rate required to double. Both forms are useful for sanity-checking a client conversation without a calculator. Competency Handbook ch. 43
Where the other options lead
Answer: B - Yes, among 403(b) accounts only; they may not be aggregated with IRAs
Because A participant with several 403(b) contracts may total the required amounts and take them from any one or more of those contracts. That aggregation does not extend across to IRAs, and 401(k) accounts may not be aggregated at all. IRS Pub 590-B
Getting this wrong produces a shortfall in one account and an excess in another, and the excise tax attaches to the shortfall. Each 401(k) must pay its own required amount separately.
Where the other options lead
Answer: C - Costs are certain and persistent outperformance is not
Because In aggregate investors hold the market, so before costs active management is a zero-sum game and after costs it is negative-sum. Costs are known in advance; skill is not, and identifying it ahead of time has proved very difficult. Bodie, Kane & Marcus, Investments, ch. 11
The secondary argument is tax: low turnover means fewer realised gains distributed to a taxable investor. That advantage disappears inside a retirement account. Competency Handbook ch. 29
Where the other options lead
CFP Exam: the whole syllabus taught, the questions that test it, 5 timed mocks, and all 6 PDFs to print.