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BUSI 352 Final Exam Questions With Precise Answers
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BUSI 352 Final Exam Questions With Precise Answers
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BUSI 352 Final Exam Questions WithPrecise Answers
A good financial planning report must include an analysis of all of the following EXCEPT
CORRECT ANSWERS Why you failed previously
Usual financial planning goals include the following EXCEPT CORRECT ANSWERS
career planning
which of the following is true regarding the types of financial problems clients will face in
their lives CORRECT ANSWERS taxes add to the cost of an investment and slow
progress toward the client's goals
Which of the following is true regarding the contents of the financial plan? CORRECT
ANSWERS the plan should have a discussion of how to achieve goals
the 6 steps in the financial management process outlined by the authors include the
following except CORRECT ANSWERS establish living wills
Which of the following is true regarding risk CORRECT ANSWERS attitudes about risk
are likely to change over a person's lifetime
which of the following statements is true regarding financial objectives CORRECT
ANSWERS after they have been identified, they should be prioritized
Which of the following is true regarding developing a financial plan? CORRECT
ANSWERS this involves budgeting income and expenses
Which of the following is true regarding taxes CORRECT ANSWERS high tax brackets
indicate planning opportunities
Which of the following is NOT part of the definition of an Investment Adviser as defined
by the Investment Advisers Act of 1940 (the Act)? CORRECT ANSWERS holds a CFP
or Series 7 license
the act defines compensation as CORRECT ANSWERS receipt of any economic
benefit
which of the following is NOT exempt from the definition of an investment adviser
CORRECT ANSWERS insurance agent who advises clients about no load mutual funds
The "brochure rule" requires that the investment adviser do which of the following
CORRECT ANSWERS deliver a written disclosure document (such as part II of form
ADV) to each client
, The anti-fraud provisions of the Act apply to CORRECT ANSWERS all investment
advisers, even those who are exempt from registration
Which of the following statements about the definition of "security" under the Investment
Advisor Act is correct? CORRECT ANSWERS the act defines the term "security" in the
broadest possible fashion
Financial adviser John Smith manages investment accounts for clients mostly in his
home state of Ohio. He should register with the Ohio division of securities if: CORRECT
ANSWERS Assets under his management are less than 25 million
If John Smith is registered as an investment advisor with the SEC, which of the
following designations is permitted under the Act? CORRECT ANSWERS John Smith,
Registered Investment Adviser
Rules issued by the SEC require investment advisers to do the following EXCEPT
CORRECT ANSWERS accept only U.S. citizens as clients
All of the following are the disciplinary actions that the CFP board may take against a
financial adviser who is in violation of the Code of Ethics except CORRECT ANSWERS
lawsuit against the adviser in federal court
which of the following uses of the CFP marks are prohibited by the CFP Board
CORRECT ANSWERS Jane Smith is a CFP graduate, Jane Smith is a CFP, Jane
Smith has a CFP
Which of the following are prohibited uses of the CFP marks? CORRECT ANSWERS
www.CFPAdvisors.com, CFP Advisers, Inc., All Stars CFPs, Inc.
Under the CFP board code of ethics and professional responsibility, a financial planner
who has reason to suspect illegal conduct in their organization must CORRECT
ANSWERS disclose the information to their supervisor, alert regulatory authorities if the
organization does not take suitable action to remedy the situation, not use the process
to harass another planner
An important requirement that is common to the SEC rules for investment advisers and
the CFP Board's code of ethics is CORRECT ANSWERS full disclosure of all material
information to clients
According to the Code of Ethics and professional responsibility, a CFP practitioner who
gives a brochure to clients disclosing information about their firm should include all of
the following except CORRECT ANSWERS the identity of the bank or other institution
where the firm maintains a checking account
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