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A client is 65 years old and plans to retire at age 67. Their current annual income is $120,000, and they estimate needing 80% of their pre-retirement income. They expect $35,000 annually from Social Security and have a pension that will pay $20,000 per year. What is their retirement income gap?

$31,000

$41,000

$51,000

$61,000

to track

2026 Statistics

Key Facts: CRPC Exam

70%

Passing Score Required

~60/85 correct

Exam Questions

3-hour time limit

$1,375

Exam Fee

Includes study materials

73/75

RMD Ages

SECURE 2.0 rules

Year-round

Testing

Pearson VUE

Retirement

Specialty

Income & tax planning

The CRPC exam consists of 85 multiple-choice questions administered in a 3-hour session. The passing score is 70%. The exam is offered year-round at Pearson VUE testing centers and via online proctoring. The CRPC designation is highly valued by financial advisory firms, with holders often commanding premium compensation for retirement planning expertise.

Sample CRPC Practice Questions

Try these sample questions to test your CRPC exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 199+ question experience with AI tutoring.

1A client is 65 years old and plans to retire at age 67. Their current annual income is $120,000, and they estimate needing 80% of their pre-retirement income. They expect $35,000 annually from Social Security and have a pension that will pay $20,000 per year. What is their retirement income gap?

A.$31,000

B.$41,000

C.$51,000

D.$61,000

Explanation: The retirement income gap is calculated by determining needed income minus guaranteed income sources. Needed income: $120,000 × 80% = $96,000. Guaranteed income: $35,000 (Social Security) + $20,000 (pension) = $55,000. Income gap: $96,000 - $55,000 = $41,000. This gap must be filled through personal savings, investments, or other income sources.

2Which of the following is the PRIMARY advantage of a single-life annuity with period certain over a joint-and-survivor annuity?

A.Higher monthly payments during the annuitant's lifetime

B.Continued payments to a beneficiary after both spouses die

C.Protection against inflation

D.Guaranteed return of principal

Explanation: A single-life annuity with period certain typically provides higher monthly payments than a joint-and-survivor annuity because the insurance company's obligation ends with the annuitant's death (after the period certain). With joint-and-survivor, payments continue until the second spouse dies, resulting in lower monthly payments to account for the longer expected payout period. The trade-off is that the survivor receives nothing after the annuitant's death with a single-life option.

3Under SECURE 2.0, what is the Required Minimum Distribution (RMD) starting age for an individual who turned 72 in 2022?

A.Age 70½

B.Age 72

C.Age 73

D.Age 75

Explanation: Under SECURE 2.0, individuals who turned 72 in 2022 were the last group required to begin RMDs at age 72. For those turning 72 in 2023 or later, RMDs begin at age 73. Starting in 2033, RMDs will begin at age 75. The 2022 transition group maintains the age 72 requirement that was established under the original SECURE Act.

4A reverse mortgage may be most appropriate for which of the following clients?

A.A 45-year-old who needs funds to start a business

B.A 62-year-old with significant home equity who needs supplemental retirement income

C.A 55-year-old who wants to purchase a vacation home

D.A 35-year-old first-time homebuyer

Explanation: Reverse mortgages are designed for homeowners aged 62 and older who have significant home equity and want to convert it into tax-free income or a line of credit. The client must continue living in the home as their primary residence. This option is typically used to supplement retirement income when other sources are insufficient. Reverse mortgages are not suitable for younger clients or those who do not meet the age and residency requirements.

5What is the primary risk associated with using the 4% withdrawal rule for retirement income?

A.The rule assumes a fixed inflation rate

B.Market volatility may cause portfolio depletion in poor return sequences

C.The rule only works for taxable accounts

D.Withdrawals are limited to $40,000 annually

Explanation: The 4% withdrawal rule is based on historical market returns and assumes a balanced portfolio. However, sequence-of-returns risk poses a significant threat: if poor market returns occur early in retirement, the portfolio may be depleted faster than projected, even if long-term average returns meet expectations. This risk is particularly acute because withdrawals continue regardless of market performance, locking in losses during downturns.

6A defined benefit pension plan provides a monthly benefit of $2,500. If the participant elects a joint-and-100%-survivor annuity, what happens to the benefit after the participant's death?

A.Payments stop entirely

B.The surviving spouse continues receiving $2,500 monthly

C.The surviving spouse receives $1,250 monthly

D.A lump sum is paid to the estate

Explanation: Under a joint-and-100%-survivor annuity option, the surviving spouse continues to receive the same monthly benefit amount ($2,500) that the participant received. This provides maximum protection for the survivor but results in lower monthly payments during the participant's lifetime compared to a single-life option. The 100% designation means there is no reduction in the benefit amount upon the participant's death.

7Which factor has the GREATEST impact on the sustainability of retirement withdrawals?

A.The asset allocation during the accumulation phase

B.The sequence of investment returns in the first 10 years of retirement

C.The inflation rate in the final 5 years of retirement

D.The amount of inheritance received

Explanation: Sequence-of-returns risk is the greatest threat to retirement sustainability. Poor returns in the early years of retirement, when the portfolio is largest and withdrawals are beginning, can permanently impair the portfolio's ability to recover. Even if long-term average returns are favorable, negative returns early in retirement combined with ongoing withdrawals can deplete the portfolio faster than projected. This is why many advisors recommend more conservative allocations or flexible withdrawal strategies.

8A client has a traditional pension that offers several annuity options. Which option typically provides the HIGHEST monthly benefit to the retiree?

A.Single-life annuity with no period certain

B.Joint-and-50%-survivor annuity

C.Joint-and-100%-survivor annuity

D.Single-life with 10-year period certain

Explanation: A single-life annuity with no period certain provides the highest monthly benefit because the insurance company's obligation is limited to the retiree's lifetime only. With no survivor benefit and no guaranteed period, the actuarial risk is lowest for the insurer, allowing them to offer the highest payout. All other options (survivor benefits or period certain guarantees) reduce the monthly amount to account for the extended payment obligation.

9At age 73, a retiree must begin taking RMDs from their traditional IRA. If the account balance was $500,000 at the end of the previous year, approximately what is their first RMD using the Uniform Lifetime Table?

A.$18,250

B.$20,000

C.$22,750

D.$25,000

Explanation: The Uniform Lifetime Table provides a distribution period based on age. At age 73, the distribution period is approximately 26.5 years. The RMD is calculated by dividing the prior year-end balance by the distribution period: $500,000 ÷ 26.5 = $18,868. However, using the IRS Uniform Lifetime Table factor of approximately 22.0 for age 73: $500,000 ÷ 22.0 = $22,727, which rounds to approximately $22,750. The exact factor may vary slightly based on the current IRS table.

10A 70-year-old client is considering purchasing an immediate annuity. What is the primary advantage of this strategy?

A.Potential for high capital appreciation

B.Guaranteed lifetime income regardless of market performance

C.Ability to access the principal at any time without penalty

D.Protection against long-term care expenses

Explanation: An immediate annuity provides guaranteed lifetime income payments starting within one year of purchase, regardless of market performance or how long the annuitant lives. This creates a predictable income floor in retirement, addressing longevity risk. However, immediate annuities typically do not provide capital appreciation, liquidity (principal is generally not accessible), or long-term care protection. The trade-off is certainty of income in exchange for loss of control over the principal.

About the CRPC Exam

The CRPC designation is the premier credential for retirement planning specialists. The exam covers five core domains: Retirement Income Planning, Social Security Planning, Medicare and Healthcare Planning, Tax Planning for Retirement, Estate Planning, and Fiduciary Standards. It demonstrates expertise in helping clients navigate the complexities of retirement planning including tax-efficient withdrawal strategies, RMD rules under SECURE 2.0, Social Security optimization, Medicare enrollment decisions, and estate planning fundamentals.

Questions

85 scored questions

Time Limit

3 hours

Passing Score

70%

Exam Fee

$1,375 (College for Financial Planning (Kaplan))

CRPC Exam Content Outline

~25%

Retirement Income Planning

Retirement income gap analysis, income source optimization (pensions, annuities, reverse mortgages), retirement cash flow planning, inflation impact, longevity risk management, retirement distribution strategies

~20%

Social Security Planning

Retirement benefits calculation, spousal and survivor benefits, filing strategies and break-even analysis, Windfall Elimination Provision (WEP), Government Pension Offset (GPO), Social Security taxation

~20%

Medicare and Healthcare Planning

Medicare Parts A-D coverage and enrollment, Medigap policies, Medicare Advantage (Part C), IRMAA premium calculations, long-term care planning, Health Savings Accounts (HSAs)

~20%

Tax Planning for Retirement

Tax-efficient withdrawal sequencing, Roth conversion strategies, RMD rules under SECURE 2.0 (age 73/75), Qualified Charitable Distributions (QCDs), capital gains management, deductions in retirement

~10%

Estate Planning

Wills and trusts (revocable and irrevocable), beneficiary designations, probate avoidance, gift and estate tax basics, stepped-up basis rules, charitable giving strategies

~5%

Fiduciary Standards and Ethics

Fiduciary duty vs. suitability standard, Regulation Best Interest, Form ADV disclosures, conflicts of interest, professional ethics, client communication standards

How to Pass the CRPC Exam

What You Need to Know

Passing score: 70%
Exam length: 85 questions
Time limit: 3 hours
Exam fee: $1,375

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CRPC Study Tips from Top Performers

1Master the RMD rules under SECURE 2.0 — know the new ages (73 now, 75 starting 2033) and exceptions

2Understand Social Security benefit calculations and how spousal/survivor benefits work

3Study Medicare enrollment periods and the differences between Parts A, B, C, and D

4Learn tax-efficient withdrawal sequencing: taxable accounts first, then traditional IRAs, then Roth IRAs

5Know the differences between revocable and irrevocable trusts and their estate planning uses

6Understand the fiduciary standard vs. suitability standard and Regulation Best Interest requirements

7Practice calculating retirement income gaps and developing withdrawal strategies

Frequently Asked Questions

What is the CRPC exam pass rate?

The College for Financial Planning does not publish official pass rates, but industry estimates suggest a 65-75% pass rate. Success depends on completing the required coursework and thorough preparation using practice questions. Candidates with CFP or other financial planning backgrounds tend to perform well on the exam.

What are the RMD rules under SECURE 2.0?

The SECURE 2.0 Act changed RMD ages: starting in 2023, RMDs must begin at age 73 (up from 72). Beginning in 2033, the RMD age increases to 75. The Act also eliminated RMDs for Roth 401(k) accounts starting in 2024 and reduced the excise tax for missed RMDs from 50% to 25% (or 10% if corrected promptly).

How do I calculate the best Social Security filing strategy?

The optimal filing strategy depends on multiple factors: life expectancy, marital status, work status, other income sources, and survivor benefit considerations. Generally, if you expect to live beyond the break-even age (typically late 70s to early 80s), delaying benefits yields higher lifetime income. Married couples should coordinate filing strategies, often with the higher earner delaying to maximize survivor benefits.

What is the difference between fiduciary and suitability standards?

Under the fiduciary standard, advisors must act in the client's best interest and put client interests ahead of their own. Under the suitability standard (which applies to broker-dealers), recommendations must merely be suitable based on the client's financial situation and objectives. The SEC's Regulation Best Interest (Reg BI) requires brokers to act in the retail customer's best interest when making recommendations, narrowing but not eliminating the gap.

How much can I contribute to an HSA in 2026?

For 2026, HSA contribution limits are $4,300 for individual coverage and $8,550 for family coverage. Those age 55 and older can make an additional $1,000 catch-up contribution. HSA contributions are tax-deductible, growth is tax-deferred, and withdrawals for qualified medical expenses are tax-free, making HSAs a powerful triple-tax-advantaged retirement healthcare savings tool.

What Medicare enrollment periods should I know?

Key Medicare enrollment periods include: Initial Enrollment Period (3 months before, month of, and 3 months after turning 65), General Enrollment Period (January 1-March 31 annually for those who missed IEP), Open Enrollment Period (October 15-December 7 annually for plan changes), and Special Enrollment Periods (triggered by specific life events like losing employer coverage). Late enrollment penalties may apply for Part B and Part D.