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Exam (elaborations)

AWMA Exam 2 Questions & 100% Correct Answers

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Of the following practical dimensions of emotional intelligence, which is the most complex and difficult to attain? A)Regulation of adviser and/or client emotions B)Integration of emotional intelligence into thinking C)Perception and differentiation between emotions D)Understanding and explan...

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  • September 12, 2024
  • 57
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AWMA
  • AWMA
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1 | P a g e | © copyright 2024/2025 | Grade A+



AWMA Exam 2 Questions & 100% Correct
Answers
Of the following practical dimensions of emotional intelligence, which is the

most complex and difficult to attain?




A)Regulation of adviser and/or client emotions

B)Integration of emotional intelligence into thinking

C)Perception and differentiation between emotions

D)Understanding and explanation of the emotions

✓ ~~> A) Individuals who score highly on the main dimensions of EI are

able to perceive and differentiate between emotions, integrate this

information into thinking, accurately understand and explain the

emotions, and regulate their own and other's emotions, all while

anticipating and managing their responses to other's emotional

displays. The ability to perform well in one dimension is dependent

upon one's abilities in the other dimensions, with emotional perception

being the least complex and emotional regulation being the most

complex. Mod 1




Warning signs of possible elder abuse of a client include




A)having solid powers of attorney.


Master01 | September, 2024/2025 | Latest update

, 2 | P a g e | © copyright 2024/2025 | Grade A+



B) having dementia.

C) sudden happiness with a new friend.

D) someone isolating the client from family and friends.

✓ ~~> D) A planner should be savvy to the following warning signs of

elder abuse: signs of dementia and/or confusion with questionable or

no powers of attorney granted; someone isolating the client from

family and friends; and irritability and/or depression. Dementia can be

present without the client being a victim of fraud; this still requires family

or planner intervention. Mod 1




Which one of the following is most correct concerning high net worth client

discussions about finances with their children?




A) Most millennials express that the best time to introduce children to the

financial adviser is under age 12.

B) About 60% of high net worth clients have not yet talked to their children

about their wealth.

C) Most high net worth individuals do not plan to ever talk to their children

about their wealth.

D) Most baby boomers say it does not matter when children are introduced

to a financial adviser.




Master01 | September, 2024/2025 | Latest update

, 3 | P a g e | © copyright 2024/2025 | Grade A+



✓ ~~> A) A Northern Trust survey found that 26% of wealthy individuals

have not yet talked to their children about wealth and some (not most)

do not plan to ever do so. A Spectrem study shows that 54% of

millennials say that under age 12 is the best age to introduce a

financial planner. Considering the average of all demographic

categories, and that of baby boomers, the ages 18 to 25 group was

found to be the ideal time to introduce a financial adviser. Mod 1




Which one of the following is most important in establishing trust with a client?




A) Being associated with a good financial company

B)Having a pleasant manner

C)Demonstrating professional knowledge

D)Being genuine and following best practices

✓ ~~> D) Being genuine and following best practices are two of the

most important factors in establishing trust with a client. Mod 1




Which one of the following is a question that a wealth adviser could best

pose to clients when starting a conversation about family matters?




Master01 | September, 2024/2025 | Latest update

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A)Do you exclude family members from learning about or participating in

decisions related to the family's business or wealth?

B)Do you fight when the family communicates about wealth matters?

C)Are there any major transitions that are important?

D)What steps has the family taken to ensure that family members are

financially fluent and well positioned to serve as responsible stewards of

wealth?

✓ ~~> D) When starting a discourse with a wealthy client, the questions

about family matters should be open-ended and not leading clients to

answer a certain way. Mod 1




Which one of the following is a regulation that allows members to put a

temporary hold on disbursements from an elder account if elder abuse is

suspected?




A)Elder Justice Initiative

B) FINRA Rule 4512

C) FINRA Rule 2165

D) Senior Safe Act




Master01 | September, 2024/2025 | Latest update

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