BUSI 352 Exam 1 questions with verified answers graded A+
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Course
BUSI 352
Institution
BUSI 352
The Act defines compensation as
a. commission only
b. fees only
c. receipt of any economic benefit
d. 12 (b) 1 fees only - c
A client's formal financial planning report that summarizes all of the following except
a. strategy- how the client gets where he or she wants
b. turnover- when and ho...
A good financial planning report must include an analysis of all of the following except
a. where you are now
b. where you want to be
c. why you failed previously
d. how to reach your goals - ✔✔c
All are disciplinary actions that the CFP Board may take against a financial advisor who is in violation of
the Code of Ethics EXCEPT:
a. private censure
, b. lawsuit against the advisor in Federal Court
c. public letter of admonition
d. suspension - ✔✔b
An important requirement that is common to the SEC rules for investment advisors and the CFP Board's
Code of Ethics is:
a. full disclosure of all material info to client
b. a ban on accepting commissions
c. a ban on "soft dollars"
d. rules for the custody of assets under management - ✔✔a
Retirees may be sensitive to which of the following uncontrollable factors which may deplete their
funds?
a. living too long
b. an inheritance to leave to their family
c. lonliness
d. carefree spending - ✔✔a
The "brochure rule" requires that the investment adviser do which of the following?
a. provide the client with an audited financial statement of the adviser's net worth
b. deliver a written disclosure document (such as Part II of ADV) to each client
c. provide a copy of part I of form ADV to each client
d. provide clients with copies of the adviser's marketing brochure - ✔✔b
The anti-fraud provisions of the Act applies to
a. all investement advisors even those who are exempt from registration
b. only those who must register with SEC or states
c. only situations where security transactions take place
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