Cfp fundamentals Study guides, Class notes & Summaries

CFP Fundamentals Exam Questions & Answers 2024/2025 Code of Ethics: CFP Professional Must (6) - ANSWERS1. Act with honesty, integrity, competence, and diligence 2. Act in client's best interest 3. Exercise due care 4. Avoid/Disclose conflicts of interest 5. Maintain confidentiality 6. Act in a manner that is positive on CFP profession fiduciary duty - ANSWERSAct in best interest of the client at all times (Loyalty, Care, Instructions) Integrity - ANSWERSHonesty, upstanding, Cand...

CFP Fundamentals of Financial Planning Exam Questions & Answers 2024/2025 Personal Financial Planning - ANSWERSThe process of formulating, implementing, and monitoring financial decisions into an integrated plan that guides an individual or a family to achieve their financial goals Financial Planning Process - ANSWERS1. Understand the clients personal and financial circumstances 2. Identifying and selecting goals 3. Analyses current course of action and potential alternatives 4. Devel...

November 2022/2023 CFP: Fundamentals A CFP® professional has been engaged by a client to help with budgeting and investing for retirement. The client has had difficulty saving money for investments even though he has an adequate income. The CFP® professional began to collect information on income and expenses for the client and then decided to look at the client's income tax returns. When the CFP® professional asked for income tax returns, he learned that the client had not paid ...

CFP: Fundamentals November 2022/2023 CFP: Fundamentals A CFP® professional has been engaged by a client to help with budgeting and investing for retirement. The client has had difficulty saving money for investments even though he has an adequate income. The CFP® professional began to collect information on income and expenses for the client and then decided to look at the client's income tax returns. When the CFP® professional asked for income tax returns, he learned that the c...

CFP Practice Questions - Fundamentals As a rule of thumb, it is best if consumer debt does not exceed: A. 20% of net income. B. 20% of gross income. C. 3 to 6 months of expenses. D. 36% of gross monthly income. - A. 20% of net income This is a rule of thumb, along with the others that recommend housing debt be limited to 28% of gross income, and total debt not to exceed 36% of gross income. David has won the Illinois state lottery. He must decide whether to receive annual payment...

CFP Exam Practice Questions Fundamentals With 100% Correct And Verified Answers

Income Tax Fundamentals and Calculations 100% solved Andrew Wyman works at a graphic arts business, and his wife has a bookkeeping business. Andrew's employer has a profit- sharing plan for employees and contributes 3% of compensation annually. The Wymans have provided the following information for income tax planning this year: Salary- $109,000 Corp. dividends- $3,000 Bookkeeping income- $12,000 IRA contribution- $11,000 Mortgage interest- $9,000 Capital losses- $5,000 Investment i...

CFP Practice Exam – Fundamentals Questions with 100% Correct Answers | Verified | Latest Update |100% Solved

As a rule of thumb, it is best if consumer debt does not exceed: A. 20% of net income. B. 20% of gross income. C. 3 to 6 months of expenses. D. 36% of gross monthly income. CORRECT ANSWER A. 20% of net income This is a rule of thumb, along with the others that recommend housing debt be limited to 28% of gross income, and total debt not to exceed 36% of gross income. David has won the Illinois state lottery. He must decide whether to receive annual payments of $250,000 at the beginnin...