GS839 - all quizzes
Below-the-line planning addresses what?
(1) - correct answer ✔✔The how of the client's plan: Above the line is the why, below is the how. (First
goals, then strategies to accomplish them.)
WHY
------
HOW
Above-the-line planning addresses what?
(1) - correct answer ✔✔The "why" of planning: The planning done above the line gets at the client's
vision, values, hopes, dreams, aspirations, ideals, their conception of a better life in a better world.
WHY
------
HOW
According to the National Association of Estate Planners and Councils, what are the three "Cs" of
collaboration?
(1) - correct answer ✔✔Communication, Coordination, Cooperation
We communicate, coordinate, and cooperate across our disciplines to ensure that the client is well
served across the range of needs.
With respect to advisors conducting philanthropic conversations, which statement or statements below
is (are) true?
A. The field has evolved in a good direction over the last ten years, with advisors increasingly committed
to holding philanthropic conversations
B. Advisor/client disconnects are still prevalent
,(1) - correct answer ✔✔Both are true.
The majority of advisors say they hold these conversations and consider it a professional obligation. The
majority say they initiative the conversations and ask good questions about meaning, vision, and
purpose. Clients, however, feel they initiate, and that advisors spend most of their time on tools and
techniques.
With respect to holding philanthropic conversations, according to a study by US Trust cited in this course,
which statement or statements below is (are) true?
A. Advisors are holding these conversations more frequently now than five years ago.
B. Nearly all advisors consider it important to discuss giving with clients.
(1) - correct answer ✔✔Both statements are true.
What are the four types of planning teams?
(1) - correct answer ✔✔De Facto Team
Core Team
Intentional Team
Virtual Team
Which of these is a good characterization of "the virtual planning team"?
A. It generally consists of members of the core team, including the most trusted advisor, with one or
more additional specialists to address a special issue confronting the client.
B. It is generally created online, with limited or no face-to-face interaction.
(1) - correct answer ✔✔A. The virtual planning team includes specialists who meet with one or more
core team members to address particular issues.
With respect to giving trends, which statement or statements below is (are) true?
I. High-income earners ($500,000 or more) are giving far more than a decade or so ago.
II. Ordinary givers (income less than $100,000) are giving significantly less than a decade ago.
,(1) - correct answer ✔✔Both are true. Hence, in CAP, the emphasis is on "high-capacity donors," on
those who can and will do more for others.
What is the Trust Equation?
(1) - correct answer ✔✔Credibility, Reliability, and Intimacy divided, by Self-Orientation:
Note that Self-Orientation ("What is in it for me?") undermines whatever other strengths an advisor
might have.
C+R+I
-----------
Self-Orientation
=
Trust
The more the client feels like there's nothing in it for you, the better the relationship.
Which of these statements is (are) true of the "Core Team," as described by the Fithians?
A. The Core Team has access to tax, legal, and financial expertise, meets regularly with the client, and
shares information with each other.
B. One or more members of the Core Team may meet with outside experts on specialized issues, thereby
forming a Virtual Team.
(1) - correct answer ✔✔Both are true
Which statement or statements below is (are) correct?
I. Total giving is about flat, adjusted for inflation
II. Giving today skews more and more to the wealthier donors
(1) - correct answer ✔✔Both
, In a discernment-based process for a high-capacity client, how, generally, will the discernment interview
end?
A. Recommending products, tools, or gifts
B. Recommending an appropriate next step in the process
(1) - correct answer ✔✔B. Recommending an appropriate next step in the process
The client might not want a fundraiser/development director to have access to their financial statements
for all of these reasons, EXCEPT
A. The fundraiser has no particular need to know.
B. The fundraiser is perceived to have only one objective: to get money for their charity.
C. The fundraiser is passionate about making the world better.
D. The fundraiser is perceived to have little to add from a technical perspective.
(1) - correct answer ✔✔The correct answer is C.
The fundraiser, no less than a salesperson, may be "typecast" as having a limited agenda. By speaking up
for philanthropic motivation and social impact, not just for their own charity, a fundraiser may gain a
respected seat at the table as an expert and as an advisor.
A discernment-based advisor will likely do the following:
A. Use open-ended questions, followed by probing, closed-ended questions
B. Confirm understanding before moving ahead
(1) - correct answer ✔✔The correct answer is BOTH.
This is a concise statement of a consultative process. Begin with open-ended questions to get the client
talking about issues of importance to them, then guide the process to a clear, shared understanding by
asking closed-ended, factual questions about what the client has said. Then, when the picture comes
clear, play it back, and ask the client or donor to confirm or correct the shared understanding.
Below-the-line planning addresses what?
(1) - correct answer ✔✔The how of the client's plan: Above the line is the why, below is the how. (First
goals, then strategies to accomplish them.)
WHY
------
HOW
Above-the-line planning addresses what?
(1) - correct answer ✔✔The "why" of planning: The planning done above the line gets at the client's
vision, values, hopes, dreams, aspirations, ideals, their conception of a better life in a better world.
WHY
------
HOW
According to the National Association of Estate Planners and Councils, what are the three "Cs" of
collaboration?
(1) - correct answer ✔✔Communication, Coordination, Cooperation
We communicate, coordinate, and cooperate across our disciplines to ensure that the client is well
served across the range of needs.
With respect to advisors conducting philanthropic conversations, which statement or statements below
is (are) true?
A. The field has evolved in a good direction over the last ten years, with advisors increasingly committed
to holding philanthropic conversations
B. Advisor/client disconnects are still prevalent
,(1) - correct answer ✔✔Both are true.
The majority of advisors say they hold these conversations and consider it a professional obligation. The
majority say they initiative the conversations and ask good questions about meaning, vision, and
purpose. Clients, however, feel they initiate, and that advisors spend most of their time on tools and
techniques.
With respect to holding philanthropic conversations, according to a study by US Trust cited in this course,
which statement or statements below is (are) true?
A. Advisors are holding these conversations more frequently now than five years ago.
B. Nearly all advisors consider it important to discuss giving with clients.
(1) - correct answer ✔✔Both statements are true.
What are the four types of planning teams?
(1) - correct answer ✔✔De Facto Team
Core Team
Intentional Team
Virtual Team
Which of these is a good characterization of "the virtual planning team"?
A. It generally consists of members of the core team, including the most trusted advisor, with one or
more additional specialists to address a special issue confronting the client.
B. It is generally created online, with limited or no face-to-face interaction.
(1) - correct answer ✔✔A. The virtual planning team includes specialists who meet with one or more
core team members to address particular issues.
With respect to giving trends, which statement or statements below is (are) true?
I. High-income earners ($500,000 or more) are giving far more than a decade or so ago.
II. Ordinary givers (income less than $100,000) are giving significantly less than a decade ago.
,(1) - correct answer ✔✔Both are true. Hence, in CAP, the emphasis is on "high-capacity donors," on
those who can and will do more for others.
What is the Trust Equation?
(1) - correct answer ✔✔Credibility, Reliability, and Intimacy divided, by Self-Orientation:
Note that Self-Orientation ("What is in it for me?") undermines whatever other strengths an advisor
might have.
C+R+I
-----------
Self-Orientation
=
Trust
The more the client feels like there's nothing in it for you, the better the relationship.
Which of these statements is (are) true of the "Core Team," as described by the Fithians?
A. The Core Team has access to tax, legal, and financial expertise, meets regularly with the client, and
shares information with each other.
B. One or more members of the Core Team may meet with outside experts on specialized issues, thereby
forming a Virtual Team.
(1) - correct answer ✔✔Both are true
Which statement or statements below is (are) correct?
I. Total giving is about flat, adjusted for inflation
II. Giving today skews more and more to the wealthier donors
(1) - correct answer ✔✔Both
, In a discernment-based process for a high-capacity client, how, generally, will the discernment interview
end?
A. Recommending products, tools, or gifts
B. Recommending an appropriate next step in the process
(1) - correct answer ✔✔B. Recommending an appropriate next step in the process
The client might not want a fundraiser/development director to have access to their financial statements
for all of these reasons, EXCEPT
A. The fundraiser has no particular need to know.
B. The fundraiser is perceived to have only one objective: to get money for their charity.
C. The fundraiser is passionate about making the world better.
D. The fundraiser is perceived to have little to add from a technical perspective.
(1) - correct answer ✔✔The correct answer is C.
The fundraiser, no less than a salesperson, may be "typecast" as having a limited agenda. By speaking up
for philanthropic motivation and social impact, not just for their own charity, a fundraiser may gain a
respected seat at the table as an expert and as an advisor.
A discernment-based advisor will likely do the following:
A. Use open-ended questions, followed by probing, closed-ended questions
B. Confirm understanding before moving ahead
(1) - correct answer ✔✔The correct answer is BOTH.
This is a concise statement of a consultative process. Begin with open-ended questions to get the client
talking about issues of importance to them, then guide the process to a clear, shared understanding by
asking closed-ended, factual questions about what the client has said. Then, when the picture comes
clear, play it back, and ask the client or donor to confirm or correct the shared understanding.
