Ran Chen, EA, CFP®
Open Exam Prep
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...
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Author
Ran Chen, EA, CFP®
Category
Podcast website
Latest episode
Oct 19, 2026
Where to listen?
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Episodes
[Retirement] 29, Nonqualified Plans 31.12.2024 3:57
Offer benefits to select employees without the restrictions of qualified plans, often involving deferred compensation. -- 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-...
[Retirement] 23, Roth vs. Traditional IRAs 30.12.2024 3:48
Roth IRAs offer tax-free withdrawals and no required minimum distributions, while traditional IRAs offer tax-deferred growth. -- 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:...
[Retirement] 22, Distribution Rules 30.12.2024 4:03
Qualified plans have specific rules for distributions, including penalties for early withdrawals and required minimum distributions. -- 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:...
[Retirement] 21, ESOPs 30.12.2024 3:44
Employee stock ownership plans provide stock to employees, with special rules for voting rights and distributions. -- 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...
[Retirement] 25, Roth IRA Conversions 30.12.2024 3:47
Allow conversion of traditional IRAs to Roth IRAs, with tax implications based on the conversion amount. -- 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/
[Retirement] 24, IRA Contribution Limits 30.12.2024 3:51
Contributions are limited by earned income and age, with catch-up contributions allowed for those over 50. -- 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...
[Retirement] 15, Actuarial Requirements 29.12.2024 4:18
Defined benefit and cash balance plans require actuarial calculations to determine funding needs. -- 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/
[Retirement] 14, Pension Plan Types 29.12.2024 4:04
Include defined benefit, cash balance, money purchase, and target benefit plans, each with unique funding and benefit structures. -- 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: ht...
[Retirement] 13, Plan Limits 29.12.2024 4:01
Contribution limits for defined contribution plans are capped at the lesser of 100% of compensation or a specified dollar amount. -- 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: ht...
[Retirement] 12, Top-Heavy Plans 29.12.2024 3:56
Require additional contributions for non-key employees if key employees hold more than 60% of plan assets. -- 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...
[Retirement] 11, Vesting Schedules 29.12.2024 3:58
Defined contribution plans often use a 2-6 year graduated or 3-year cliff vesting schedule. -- 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/
[Retirement] 20, Stock Bonus Plans 29.12.2024 3:48
Allow employers to contribute stock, with tax benefits for net unrealized appreciation on distributions. -- 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/
[Retirement] 18, 401(k) Plans 28.12.2024 3:51
Allow employee deferrals, often with employer matching, and are subject to ADP and ACP nondiscrimination tests. -- 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-pr...
[Retirement] 17, Profit Sharing Plans 28.12.2024 3:58
Contributions are discretionary but must be substantial and recurring, with limits based on employer compensation. -- 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...
[Retirement] 16, Social Security Integration 28.12.2024 3:56
Allows plans to provide additional benefits to employees earning above the Social Security wage base. -- 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/
[Retirement] 10, Highly Compensated Employees 28.12.2024 3:55
Defined as owning more than 5% of the company or earning over a specified amount, affecting plan testing. -- 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...
[Retirement] 9, 50/40 Test 28.12.2024 3:46
Defined benefit plans must cover the lesser of 50 employees or 40% of all employees. -- 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/
[Retirement] 8, Coverage Tests 28.12.2024 3:52
Ensure plans are nondiscriminatory, requiring coverage of a certain percentage of non-highly compensated employees. -- 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-exa...
[Retirement] 7, Eligibility Requirements 28.12.2024 3:53
Typically require age 21 and one year of service, with special rules for part-time employees under the SECURE Act. -- 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...
[Retirement] 6, ERISA Protection 28.12.2024 3:58
Ensures plan assets are protected from creditors and bankruptcy, providing security for retirement savings. -- 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.c...
[Retirement] 19, Safe Harbor 401(k) 28.12.2024 4:09
Avoids ADP and ACP testing by providing a minimum employer contribution that is fully vested. -- 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/
[Retirement] 3, Qualified Plans 27.12.2024 4:12
Include pension and profit-sharing plans, with specific types like 401(k), ESOPs, and cash balance plans. -- 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...
[Retirement] 5, Defined Benefit vs. Defined Contribution 27.12.2024 3:45
Defined benefit plans promise a specific payout at retirement, while defined contribution plans depend on contributions and investment performance. -- 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...
[Retirement] 4, Pension vs. Profit Sharing 27.12.2024 3:58
Pension plans promise a retirement benefit, while profit-sharing plans defer compensation and may allow in-service withdrawals. -- 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: http...
[Retirement] 2, FIRE Variants 27.12.2024 3:59
Lean FIRE involves minimalistic living, Barista FIRE includes part-time work, and Fat FIRE allows for a more luxurious lifestyle. -- 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: ht...
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