After the CFP® Exam: What Comes Next?

What are wash sales? 

A wash sale results when an investor sells a security at a loss, then either buys it or a substantially similar security within 30 days (either before or after the sale). Basically, the IRS put this rule in place to prevent investors from using the loss as a tax deduction while maintaining their investment. 

What is depreciation in accounting?

Depreciation is the systematic allocation of the cost of a tangible fixed asset over its useful life, reflecting its gradual loss of value over time, due to wear and tear, obsolescence, or usage. This is a strategy commonly used in tax and investment planning.  

The BIF Crew is going back through our archives, and we put together some practice questions for the CFP^® Exam related to retirement planning. Test your knowledge and then read our instructor insights and CFP Board explanations for how we got these answers. 

Jerry views cryptocurrency as the future currency in the global economy and a high-risk/high-reward store of value that, if handled properly, could lead to large portfolio gains.