AFC Study Guide 2026
Everything you need to pass the AFC exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 AFC Exam Format at a Glance
📚 AFC Topics to Study (79)
✍️ Sample AFC Questions & Answers
1. What distinguishes financial counseling from financial coaching?
Financial counseling traditionally addresses immediate problems and remedial needs, while coaching focuses on helping clients achieve goals from a stable baseline.
2. A client dies without a will. What legal process determines how their assets are distributed?
When someone dies intestate, the probate court applies state intestacy laws dictating distribution based on a statutory hierarchy of heirs.
3. A client is self-employed and has no employer-sponsored health insurance. Which marketplace option allows them to deduct 100% of health insurance premiums from their taxable income?
Self-employed individuals may deduct 100% of health insurance premiums for themselves and their family as an above-the-line deduction on their federal income tax return.
4. A client aged 55 wants to withdraw from their 401(k) due to a job loss. Which provision allows penalty-free withdrawals in this scenario?
The Rule of 55 allows penalty-free 401(k) withdrawals if you separate from service in or after the year you turn 55.
5. A client is considering a 15-year mortgage versus a 30-year mortgage for the same loan amount at the same interest rate. Which statement is MOST accurate?
A 15-year mortgage has higher monthly payments but dramatically reduces total interest paid because the principal is repaid in half the time.
6. What is a target-date fund?
A target-date fund is a professionally managed investment fund designed to simplify retirement planning. It automatically adjusts its asset allocation, becoming more conservative as the investor approaches their specified retirement 'target date.' This means it starts with a higher allocation to stocks and gradually shifts towards bonds as the target date nears.
🎯 Free AFC Practice Tests
📖 AFC Guides & Articles
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