Where can I listen to this podcast?

This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.

Does this podcast accept guests?

No, this podcast does not typically feature guests.

Finance Exam Prep

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by Ran Chen, EA, CFP®

185 episodes

Updated Daily

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Podcast Overview

Finance Exam Prep is a daily podcast designed to help future tax and finance professionals pass their certification and licensing exams with clarity and confidence. Built and operated by OpenExamPrep, this podcast breaks down major tax exams into focused, easy-to-digest episodes covering the CPA & Enrolled Agent (EA) Exam, including Part 1 (Individuals), Part 2 (Businesses), and Part 3 (Representation, Practices, and Procedures). Each episode targets one key tax concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions. Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Tax Exam Prep was developed from firsthand experience with how complex—and often poorly explained—tax exam material can be. The goal is simple: make tax exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for the EA Exam, transitioning into a tax career, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time. Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/

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Publishing Since

1/15/2026

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Recent Episodes

July 21, 2026

Enrolled Agent Exam [Part 2] 85, Form 706 — Federal Estate Tax Overview

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Form 706 is required when the gross estate plus adjusted taxable gifts exceeds the lifetime exemption ($15 million in 2026). - The unlimited marital and charitable deductions can significantly reduce the taxable estate. - A surviving spouse can use a deceased spouse's unused estate tax exemption (DSUE) only if a timely Form 706 is filed to elect portability. - A common exam trap is forgetting to add prior adjusted taxable gifts to the gross estate to determine the filing requirement. - The deadline for Form 706 is a strict nine months after the decedent's date of death, with a six-month extension available for filing but not for payment. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

July 20, 2026

Enrolled Agent Exam [Part 2] 84, Estate Income Tax — Form 1041 for Decedent's Estate

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An estate is a separate taxpayer from the decedent, reporting post-death income on Form 1041. - Unlike individuals, an estate can elect a fiscal year, creating flexibility for the initial return period and due date. - Estates are entitled to a $600 personal exemption, which is also the gross income threshold for the filing requirement. - Income distributed to beneficiaries is reported on Schedule K-1 and is deductible by the estate to avoid double taxation. - A common exam trap is confusing the estate's income tax (Form 1041) with the decedent's final income tax (Form 1040) or the federal estate tax (Form 706). For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

July 19, 2026

Enrolled Agent Exam [Part 2] 83, Grantor Trust Rules — §671-679

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That a grantor trust is a pass-through entity for income tax, with all tax consequences reported on the grantor's personal Form 1040. - To identify the key triggers for grantor trust status, including revocation powers, reversionary interests over 5%, control of beneficial enjoyment, and specific administrative powers. - How tax reporting works: the trust files an informational Form 1041, but the grantor is the one who actually pays the income tax. - To spot common exam traps, such as powers held by the grantor's spouse or the power to substitute assets, which both create grantor trusts. - How to use the "SPARC" mnemonic (Substitution, Power to revoke, Administrative control, Reversionary interest, Control) to recall the main grantor trust rules. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

185 total episodes available

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Frequently asked questions

Have a different question and can't find the answer you're looking for? Reach out to our support team by sending us an email and we'll get back to you as soon as we can.

What is Finance Exam Prep?: Finance Exam Prep is a daily podcast designed to help future tax and finance professionals pass their certification and licensing exams with clarity and confidence.

Built and operated by OpenExamPrep, this podcast breaks down major tax exams into focused, easy-to-digest episodes covering the CPA & Enrolled Agent (EA) Exam, including Part 1 (Individuals), Part 2 (Businesses), and Part 3 (Representation, Practices, and Procedures). Each episode targets one key tax concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.

Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Tax Exam Prep was developed from firsthand experience with how complex—and often poorly explained—tax exam material can be. The goal is simple: make tax exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for the EA Exam, transitioning into a tax career, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.

Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
How often does this podcast release new episodes?: This podcast updates daily.
Where can I listen to this podcast?: This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
Does this podcast accept guests?: No, this podcast does not typically feature guests.

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