100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
CFP Exam Questions and Answers 100% Solved $11.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. CFP
  4.  
  5. CFP

Exam (elaborations)

CFP Exam Questions and Answers 100% Solved
 3 views  0 purchase
  • Course
  • CFP
  • Institution
  • CFP

CFP Exam Questions and Answers 100% Solved CFP Standards of Conduct Sections (6) - A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition...

[Show more]

Preview 4 out of 159  pages

Document information

  • October 10, 2024
  • 159
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • CFP
  • CFP

Seller

avatar-seller
JOSHCLAY

Reviews received

Content preview

©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

CFP Exam Questions and Answers 100%

Solved


CFP Standards of Conduct Sections (6) - ✔✔A. Duties owed to clients.

B. Fin. Planning and Application of Practice Standards

C. Practice Standards for Fin. Planning Process

D. Duties owed to firms/subordinates

E. Duties owed to CFP Board

F. Prohibition on Circumvention

Section A of CFP Standards of Conduct - ✔✔Duties owed to Client:

1. Fiduciary Duty

2. Integrity

3. Competence

4. Diligence

5. Disclose and Manage Conflicts of Interest

6. Sound and Objective Professional Judgment

7. Professionalism

8. Comply with the Law

, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

9. Confidentiality and Privacy

10. Provide information to client

11. Duties when communicating with a client

12. Duties when representing compensation method

13. Duties when recommending/working with other persons

14. Duties when selecting/using Technology

15. Refrain from borrowing money/ commingling assets

Section B of CFP Standards of Conduct - ✔✔Definition and standard for

compliance when practicing financial planning: Financial Planning is a

collaborative process that helps maximize a Client's potential for meeting

life goals through Financial Advice that integrates relevant elements of the

Client's personal and financial circumstances. Must limit scope of

engagement if only giving financial ADVICE, not financial PLANNING.

Section C of CFP Standards of Conduct - ✔✔Practice standards for the

FP process (7):

1. Understand Client's Personal and Financial circumstances

2. Identify and Select Goals

3. Analyse Current Course of Action and Potential Alternatives

4. Develop FP Recommendations

, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

5. Present FP Recommendations

6. Implement FP Recommendations

7. Monitor Progress and Update

Section D of CFP Standards of Conduct - ✔✔Duties owed to

Firm/Subordinates (3):

1. Use Reasonable Care when Supervising

2. Comply with Lawful Objectives of the Firm

3. Provide Notice of Public Discipline to the Firm

Section E of CFP Standards of Conduct - ✔✔Duties owed to CFP Board:

Cannot engage in conduct that reflects adversely on CFP marks or upon

the profession. 5 types of conduct that violate CFP standard, 14 reportable

events.

- Must report to CFP board within 30 days

- Provide Board with a narrative statement

- Cooperate with Board and comply with Certification and TM license and

terms

Section F of CFP Standards of Conduct - ✔✔Prohibition on

Circumvention

, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

Cannot act indirectly or through another person to violate CFP Practice

Standards

Types of conduct that violate CFP practice standards (5) - ✔✔1. Felony

or relevant misdemeanor

2. Fraud, theft, misrepresentation, other dishonesty

3. Bankruptcy

4. Federal tax lien

5. Other lien or civil judgment that has not been satisfied

Chapter 7 Bankruptcy Exemptions (7) - ✔✔1. Primary homestead

2. Vehicle (limited)

3. Retirement savings/pension

4. Wages to provide for dependents

5. Limited personal property

6. Life insurance/annuity

7. Disability

Chapter 7 Bankruptcy NOT EXEMPTED assets (3) - ✔✔1. ESA/529s if

contributions are within 2 years of bankruptcy

2. Inherited IRAs

3. IRA assets over $1M

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller JOSHCLAY. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.99
  • (0)
  Add to cart