10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The CDFA exam has 150 questions and runs 4 hours.
These 10 free CDFA questions are organized by exam domain, so you can see how each part of the Certified Divorce Financial Analyst blueprint is tested. Reveal the answer and explanation under each question.
A CDFA professional is preparing to meet with a divorcing client who asks for advice on whether to pursue a specific custody arrangement. Which response best reflects the CDFA professional's ethical role?
Correct answer: B - Explain the financial implications of different scenarios and avoid providing legal advice
During divorce negotiations, a financial analyst is asked to identify the likely classification of an asset acquired before marriage and maintained separately throughout the marriage. Which classification is generally most appropriate for analysis?
Correct answer: B - Separate property unless it was converted or transmuted into marital property
A couple is dividing a taxable investment account. The account statement shows a balance of $200,000, but the embedded unrealized gain creates a future tax liability. Which concept should the analyst consider when comparing this asset with a retirement account?
Correct answer: B - The after-tax value because identical account balances may have different economic values
A divorcing spouse has a defined benefit pension. Which characteristic most distinguishes this asset from a defined contribution plan?
Correct answer: A - The future benefit is generally based on a formula involving factors such as salary and service rather than an individual account balance
A CDFA compares a traditional retirement account with a Roth retirement account during divorce analysis. Which statement best describes a key difference?
Correct answer: B - Roth accounts may provide tax-free qualified distributions, while traditional accounts generally involve taxable withdrawals
A client asks why Social Security retirement benefits should be included in a comprehensive divorce financial analysis. Which explanation is most accurate?
Correct answer: A - Social Security benefits can affect long-term cash-flow projections and retirement planning decisions
When estimating the financial impact of spousal support, a CDFA should primarily focus on which analysis?
Correct answer: B - How support assumptions affect each spouse's projected cash flow and financial plan
A financial plan projects that one spouse's expenses exceed income after divorce. What is the most appropriate first analytical step?
Correct answer: B - Review assumptions, income, expenses, assets, liabilities, and available alternatives
A marital home is evaluated as part of a divorce settlement. Which factor is most important when comparing keeping the home with selling it?
Correct answer: C - The complete financial impact including costs, taxes, liquidity, and affordability
After divorce, one spouse loses access to employer-provided life insurance coverage previously available through the other spouse. What planning issue should be evaluated?
Correct answer: A - Whether insurance needs and risk exposure have changed after the divorce
The CDFA exam also covers these domains. Drill them in the full free practice test:
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