CTFA study plan

Map each core fiduciary duty (loyalty, impartiality, prudence, accounting, confidentiality) to a specific trustee action you can recite without notes.

Contrast trustee powers expressly granted by the governing instrument with powers implied by statute, and write a one-paragraph distinction for each.

Build a decision tree for spotting a conflict of interest or self-dealing transaction in a trustee's proposed action.

Create 20 flashcards covering breach, remedy, and removal-of-trustee consequences, then self-test to 90% recall.

Allocate 12 sample receipts and disbursements between fiduciary income and principal using the Uniform Principal and Income Act framework.

Reconcile the trustee's duty to account with the annual tax reporting package by mapping each required disclosure to its form or statement.

Sequence the administrative steps of opening, funding, and terminating a trust into a numbered checklist.

Explain to a hypothetical beneficiary, in writing, how a unitrust or power-to-adjust clause changes the income/principal split.

Compute distributable net income for three hypothetical trusts and use it to determine beneficiary taxation.

Distinguish grantor, simple, and complex trust income taxation and record the distinguishing features in a comparison table.

Walk through the GST exemption allocation and portability election mechanics, writing the filing deadline next to each.

List the fiduciary income tax return line items that change when a trust terminates mid-year.

Compare wills, revocable trusts, and irrevocable trusts on probate avoidance, control, and tax consequences in a written matrix.

Draft an outline of a complete estate plan for a hypothetical blended family, identifying the marital and credit-shelter provisions used.

Rank at least six planning techniques (bypass trust, ILIT, charitable remainder trust, GRAT, disclaimer, lifetime gifting) by liquidity and control impact.

Trace how a power of appointment is created, limited, and exercised across three fact patterns.

Translate an investment policy statement for a trust into specific asset allocation limits that satisfy the prudent investor standard.

Reconcile the diversification duty with a concentrated low-basis position and document three compliant remediation paths.

Connect beneficiary cash-flow needs to a distribution policy and a matching portfolio withdrawal rate.

Compute the after-tax outcome of two distribution strategies under different marginal rates.

Calculate risk and return metrics (expected return, standard deviation, Sharpe ratio) for three sample portfolios and rank them.

Evaluate asset location decisions for a taxable trust versus a tax-exempt entity across at least four asset classes.

Assess insurance and annuity products for suitability against a stated beneficiary objective, writing the rejection rationale for two.

Build a retirement and education funding projection for a trust beneficiary using stated assumptions.

Re-solve every question missed in weeks 1 through 3 and log the underlying rule gap for each.

Complete two 40-question timed mixed sets weighted toward fiduciary duties and tax compliance, targeting 75% or higher.

Recite the filing deadlines, thresholds, and penalty exposures that apply to trustees from memory, then verify each against source material.

Draft a five-bullet corrective summary for each recurring error pattern you identify.

Complete two full-length timed practice exams under exam-day conditions and score each by domain.

Diagnose the two weakest domains from the practice exams and re-drill only those objectives.

Condense all four domains into a single one-page recall sheet of formulas, deadlines, and thresholds.

Verify every item on the recall sheet against source material and correct any discrepancy.