Clarifying the Inflation Adjusted Tax Numbers that are Tested on the CFP® Exam

Often times candidates who are taking the CFP Exam are unsure which years inflation adjusted tax numbers are tested on the CFP Exam.

Here’s what the CFP Board has to say about the March exams:

 “CFP® Certification Examinations administered in March test over prior year tax law. The March exam administrations will provide the prior year tax tables and candidates will be expected to use prior year rates and limits with respect to retirement contributions, phaseouts, estate tax and annual exclusion.”

So, the March exam will test the prior years tax rates, inflation adjusted numbers, phaseouts, etc. The July and November exams test the current year tax rates, phaseouts, and inflation adjusted numbers.

For example: March 2009 Exam tests 2008 numbers. The July and November 2009 exams test 2009 numbers.

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