Ran Chen, EA, CFP®

Open Exam Prep

Education EN ↓ 349 episodes

Open Exam Prep: Mastering Financial ExamsThe path to becoming a certified financial professional is known for its difficulty, and finding high-quality, accessible study material shouldn't be the hardest part. Created by Ran Chen—an AI application enthusiast, Financial Advisor, and holder of the EA (Tax), Life Insurance, Series 6/63/65, and CFP® designations—this podcast was born from personal experience. Having navigated these challenging exams himself, Ran realized the need for better resources and created Open Exam Prep as a free solution for aspiring professionals. Each episode breaks down...

Author

Ran Chen, EA, CFP®

Episodes

[Investment] 4, Research Reports 29.03.2025 3:43

Value Line ranks stocks, while Morningstar ranks mutual funds and stocks, aiding investment decisions. -- 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/

[Investment] 3, Margin Requirements 29.03.2025 4:01

Initial margin is the equity needed to start a trade; maintenance margin is the minimum equity to avoid a margin call. -- 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-...

[Investment] 2, Short-Selling 28.03.2025 3:45

Involves selling borrowed stocks hoping to buy them back at a lower price, requiring a margin account. -- 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/

[Investment] 1, Investment Options 28.03.2025 4:13

Includes stocks, bonds, derivatives, and pooled investments, each offering different risk and return profiles. -- 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-pre...

[Insurance] 20, Social Security Benefits 25.03.2025 4:01

Includes retirement, disability, and survivor benefits, with eligibility based on work credits. -- 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/

[Insurance] 18, Long Term Care 24.03.2025 3:58

Covers various care types, with tax-deductible premiums and benefits for qualified policies. -- 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/

[Insurance] 19, Disability Insurance 24.03.2025 4:03

Provides income replacement, with definitions like "own occupation" affecting coverage and premiums. -- 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/

[Insurance] 16, HSA Eligibility 23.03.2025 4:02

Requires high deductible health plan, with tax-free distributions for qualified medical expenses. -- 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/

[Insurance] 17, COBRA Coverage 23.03.2025 3:59

Allows continuation of group health coverage after employment changes, with specific eligibility criteria. -- 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.co...

[Insurance] 14, Health Insurance 22.03.2025 3:54

Major medical covers hospitalization and physician fees, with deductibles and coinsurance affecting costs. -- 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.co...

[Insurance] 15, PPACA Requirements 22.03.2025 3:58

Mandates essential benefits, prohibits lifetime limits, and offers plan categories like Bronze and Silver. -- 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.co...

[Insurance] 13, Annuities 21.03.2025 3:52

Provide periodic payments, with types including immediate, deferred, fixed, and variable, each with unique features. -- 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-ex...

[Insurance] 12, Universal Life Insurance 21.03.2025 3:59

Offers flexible premiums and death benefits, with cash value used to cover costs. -- 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/

[Insurance] 10, State Regulation 20.03.2025 4:11

Insurance is regulated at the state level, with NAIC providing model legislation but no direct authority. -- 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...

[Insurance] 11, Life Insurance Types 20.03.2025 3:50

Term life offers temporary coverage; whole life provides lifetime protection with cash value. -- 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/

[Insurance] 8, Coinsurance Clause 19.03.2025 3:51

Requires insured to cover a percentage of property value, affecting payout if underinsured. -- 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/

[Insurance] 9, Rating Agencies 19.03.2025 3:44

Evaluate insurer financial strength, with A.M. Best and Moody's providing ratings from high to low. -- 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/

[Insurance] 7, Valuation Methods 18.03.2025 4:00

Replacement cost, actual cash value, and agreed value determine compensation for insured losses. -- 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/

[Insurance] 6, Exclusions and Riders 18.03.2025 3:59

Exclusions specify non-covered events; riders modify coverage, affecting premiums and benefits. -- 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/

[Insurance] 2, Risk Management 17.03.2025 3:45

High frequency/severity risks require avoidance or insurance; low severity risks may be retained or reduced. -- 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....

[Insurance] 3, Law of Large Numbers 17.03.2025 3:52

Essential for predicting losses and setting premiums, reducing uncertainty for insurers. -- 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/

[Insurance] 1, Insurance Purpose 17.03.2025 3:54

Protects against pure risks by identifying and transferring risk in areas like home, auto, and health. -- 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/

[Insurance] 4, Insurable Interest 17.03.2025 3:52

Must exist at policy inception for life insurance and at both inception and loss for property/liability insurance. -- 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...

[Insurance] 5, Agent vs. Broker 17.03.2025 3:59

Agents represent insurers, while brokers represent policyholders, impacting policy negotiations. -- 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/

[Tax] 30, Deduction Clustering 16.03.2025 4:05

Strategy to maximize deductions by alternating between itemized and standard deductions annually. -- 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/