Busi 352 Final Exam Questions And Correct Detailed Verified Answers Success Guaranteed.
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Course
BUSI 352
Institution
BUSI 352
A good financial planning report must include an analysis of all of the following EXCEPT - correct answer Why you failed previously
Usual financial planning goals include the following EXCEPT - correct answer Career planni...
A good financial planning report must include an analysis of all of the following EXCEPT - correct answer
Why you failed previously
Usual financial planning goals include the following EXCEPT - correct answer Career
planning
A clients formal financial planning report that summarizes all of the following EXCEPT - correct answer
Turnover - when and ow the client will sell certain investments
Which of the following is true regarding the types of financial problems clients will face in their lives? -
correct answer Taxes add to the cost of an investment and slow progress toward
the clients goals
Which of the following is true regarding the contents of financial plan? - correct answer
The plan should have a discussion f how to achieve goals
The six steps in the financial management process outlined by the authors include the following EXCEPT
- correct answer Establish living wills
Which of the following is true regarding risk - correct answer Attitudes about risk
are likely to change over a persons lifetime
which of the following statements is true regarding the financial objectives - correct answer
after they have been identified, they should be prioritized
which of the following is true regarding developing a financial plan? - correct answer
This involves budgeting and income and expenses
,Which of the following is true regarding a persons standard of living? - correct answer
income not allocated to maintaining a persons standard of living should be allocated to other financial
objectives
Which of the following is true regarding taxes - correct answer high tax brackets
indicate planning opportunities
Which of the following is NOT part of the definition of an Investment Advisor as defined by the
Investment Advisers Act of 1940 (the Act) - correct answer Holds a CFP or Series 7
license
The Act defines compensation as - correct answer receipt of any economic benefit
Which of the following is NOT exempt from the definition of an investment Advisor - correct answer
Insurance agent who advises clients about no load mutual funds
The "Brochure rule" requires that the investment advisor to do which of the following? - correct answer
Deliver a written disclosure document (such as part II of form ADV) to each client
Which of the following statements about the definition of "security"under the investment advisor act is
CORRECT - correct answer the act defines the term "security" in the broadest
possible fashion
If john Smith is registered as an investment advisor with the SEC, which of the following designations is
permitted under the Act? - correct answer John Smith, Registered investment
Advisor
Rules issued by the SEC require investment advisors to do the following EXCEPT - correct answer
Accept only U.S. citizens as clients
All of the following are the disciplinary actions that the CFP Board may take against a financial advisor
who is in violation of the Code of Ethics EXCEPT - correct answer Lawsuit against the
advisor in Federal Court
, Which of the following are PROHIBITED uses of the CFP marks? - correct answer All
of the above
Under the CFP boards code of ethics and professional responsibility, a financial planner who has reason
to suspect illegal conduct in his or her organization must: - correct answer All of the
above
An important requirement that is common to the SEC rules for investment advisors and the CFP boards
code of ethics is - correct answer Full disclosure of all material information to clients
The Principle of objectivity in the code of Ethics and Professional Responsibility of the CFP board of
Standards requires that a CFP practitioner - correct answer All of the above
The CFP boards financial planning practice standards are designed to accomplish all of the following
except - correct answer Facilitate the weeding out of incompetent financial advisors
Which of the following is true regarding the relationship a planner has with the client - correct answer
it is possible that the scope of the relationship will change over time
What is true regarding a client, or potential clients finances - correct answer The
planner should consider the likelihood of the client reaching recommended financial objectives
A financial planning professional must do all of the following with the client EXCEPT - correct answer
prove to the client why taking more risk is needed
Which member of the financial planning team should be considered the most important? - correct
answer Client
Which of the following organizations administers the exam that leads to the CFP certifications - correct
answer The CFP Board of Standards
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