ChFC HS 333 study guide
ChFC HS 333 · Work through your exam, one topic at a time.
HS 333, Personal Financial Planning: Comprehensive Case Analysis, is the capstone case-study course in the ChFC® program from The American College of Financial Services. It is not a standalone certification; it is one of eight required courses, and it is also the final course in the CFP® Certification Education Program. The ChFC HS 333 study guide has 6 sections and about 2,645 words.
01Domain 1 - Financial Planning Process
This domain tests whether you can run an engagement end to end: scope the relationship, gather and verify data, convert goals into measurable targets, test them with time-value mathematics, and leave behind a monitoring plan. Expect computational items on the balance sheet, cash-flow statement and ratio analysis, plus conceptual items on standards of conduct, compensation disclosure and fiduciary duty.
409 words, about 2 min02Domain 2 - Insurance Planning and Risk Management
Items here test the risk-management sequence, the choice among treatments, policy mechanics, and the tax rules that make one product or design preferable to another. Avoid, reduce, retain (deductibles, self-insurance), transfer (insurance), share (group coverage and coinsurance).
446 words, about 2 min03Domain 3 - Income Taxation
This domain tests the individual tax formula, the boundary between exclusions, deductions and credits, capital gains mechanics, and planning that shifts or defers income. Most items are arithmetic with one tax character twist.
414 words, about 2 min04Domain 4 - Investments
This domain tests risk measurement, portfolio construction, security mechanics and the return calculations that let you compare alternatives on a consistent after-tax, risk-adjusted basis. Total risk is measured by standard deviation; systematic (market) risk by beta.
416 words, about 2 min05Domain 5 - Retirement Planning
This domain tests qualified plan design and limits, distribution rules and penalties, Social Security claiming strategy, and the accumulation math that connects savings rates to retirement income. Defined contribution: 401(k), 403(b), profit sharing, money purchase; employee deferrals plus catch-up contributions at 50 (and a larger catch-up band for ages 60–63 under SECURE 2.0).
494 words, about 2 min06Domain 6 - Estate Planning
This domain tests what is included in the gross estate, which deductions and credits reduce the tax, how property title controls transfer, and how trusts solve specific problems - liquidity, control, creditor protection and skipping a generation. Gross estate (§2031–2044: all property owned at death, plus includible transfers such as life insurance where the decedent held incidents of ownership, retained interests, and property transferred within three years of death into an ILIT) → §2053 debts and administration expenses, §2054 casualty losses, §2055 charitable and §2056 marital deductions → taxable estate → tentative tax → credits (unified credit, state death tax, prior gift tax).
466 words, about 2 min