Ran Chen, EA, CFP®

Open Exam Prep

Education EN ↓ 442 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...

Be sure to visit the podcast's website and support the creator: open-exam-prep.com

Author

Ran Chen, EA, CFP®

Episodes

[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...

[Retirement] 1, Traditional vs. Alternative Retirement 27.12.2024 4:25

Traditional retirement involves ceasing work at a standard age, while alternative retirement includes strategies like FIRE (Financial Independence Retire Early). -- 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. --...

[Fundamentals] 20, Education Savings Plans 26.12.2024 4:00

529 plans, Coverdell ESAs, and Roth IRAs offer tax advantages for education funding. -- 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 video 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/

[Fundamentals] 19, Consumer Protection Laws 25.12.2024 3:29

Includes Fair Credit Reporting Act, Fair Debt Collection Act, and Truth in Lending 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 video 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/

[Fundamentals] 18, Fiscal Policy Tools 25.12.2024 4:08

Congress influences economic growth, price stability, and employment through taxation, spending, and debt management. -- 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 video to document my study notes, and I hope you find them helpful in your own preparation. -- More Exam Prep Content Visit: https://open-exa...

[Fundamentals] 17, Monetary Policy Tools 25.12.2024 4:01

Federal Reserve uses reserve requirements, discount rates, open market operations, and excess reserve rates. -- 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 video 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...

[Fundamentals] 16, Bankruptcy Reporting 25.12.2024 3:52

CFP® professionals must report bankruptcies to the CFP Board and clients. -- 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 video 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/

[Fundamentals] 15, Candidate Fitness Standards 24.12.2024 4:08

Specific character and fitness standards for CFP® certification candidates. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 14, Learning Styles 24.12.2024 3:54

Visual, auditory, and kinesthetic methods to tailor financial advice to client preferences. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 13, Communication Skills 24.12.2024 3:47

Effective communication involves reflective listening, pacing, and rephrasing. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 12, Monitoring Plans 24.12.2024 4:15

Regular and episodic reviews to ensure financial plans remain aligned with client goals. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 11, Financial Planning Standards 24.12.2024 3:54

Involves understanding client circumstances, goal setting, and plan implementation. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 9, Confidentiality 23.12.2024 3:57

Maintain client privacy and confidentiality, with exceptions for legal and enforcement purposes. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 8, Conflict of Interest 23.12.2024 4:05

Must disclose and manage conflicts, including compensation and product limitations. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 7, Fiduciary Duty 23.12.2024 4:03

CFP® professionals must act in the best interest of clients, adhering to fiduciary standards. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 6, Professionalism 23.12.2024 3:52

Requires dignity, courtesy, and appropriate use of CFP® marks in professional interactions. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 5, Continuing Education 23.12.2024 3:57

CFP® certificants must complete 30 hours every two years, including ethics training. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 4, Code of Ethics 23.12.2024 4:03

Includes honesty, integrity, client best interests, due care, conflict management, and confidentiality. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 3, Financial Planning Process 23.12.2024 3:58

Collaborative process to help clients meet life goals through integrated financial advice. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 2, Financial Advice Definition 23.12.2024 3:56

Recommendations on financial plans, asset management, and professional services. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 10, Compensation Models 23.12.2024 3:52

Fee-only, fee-based, and commission structures, with specific disclosure requirements. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Fundamentals] 1, Ethics Emphasis 21.12.2024 4:04

Heavy focus on ethics, communication, and professional conduct in financial planning scenarios. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Estate Planning] 19, Installment Payments of Estate Tax 20.12.2024 4:09

Sections 6166 & 6161 allow for extended payment periods for closely held business interests. Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Estate Planning] 18, Income in Respect of a Decedent (IRD) 20.12.2024 3:38

Income a decedent was entitled to but not received before death, included in the gross estate without a step-up in basis. -- Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/

[Estate Planning] 17, Generation Skipping Transfer Tax (GSTT) 20.12.2024 3:52

Imposed on transfers to individuals two or more generations younger, with specific rules for direct skips and taxable terminations. -- Open Exam Prep Podcast. More Exam Prep Content Visit: https://open-exam-prep.com/