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Chartered Advisor in Philanthropy (CAP®)

100 questions 5.0 rating Mobile friendly
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About this Exam

Prepare with the Chartered Advisor in Philanthropy (CAP®) practice quiz. This question bank includes 100 questions covering advisor, philanthropic, documentation, charity, and charitable. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
Which estate planning tool allows a donor to transfer assets to a trust, receive an annuity payment for a fixed term, and pass remaining assets to heirs with reduced gift tax?
Grantor Retained Annuity Trust (GRAT)
Charitable Remainder Annuity Trust (CRAT)
Donor Advised Fund (DAF)
Qualified Personal Residence Trust (QPRT)
Question 2
Under current U.S. law, what is the federal estate tax exemption amount per individual for 2024?
$$5.49 million
$$10.92 million
$$12.92 million
$$13.61 million
Question 3
A philanthropic advisor recommends a testamentary charitable bequest. Which document is used to make this gift?
Revocable living trust
Last will and testament
Beneficiary designation form
Charitable gift annuity agreement
Question 4
Which strategy allows a high-net-worth donor to remove life insurance proceeds from their taxable estate while still funding a charity at death?
Split-dollar life insurance arrangement
Irrevocable Life Insurance Trust (ILIT) with charity as beneficiary
Whole life policy held personally with charity as beneficiary
Group term life insurance through employer
Question 5
What is the primary purpose of a 'pour-over will' in an estate plan that includes a revocable living trust?
To distribute assets to heirs outside the trust
To transfer probate assets into the revocable trust at death
To establish a new charitable fund at death
To replace the need for beneficiary designations

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Additional Information

Chartered Advisor in Philanthropy (CAP®)

This practice set contains 100 questions from the matching question bank and focuses on advisor, philanthropic, documentation, charity, and charitable. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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