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CFP 5111 Exam Questions and Answers| 100% Pass
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EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED. FIRST PUBLISH OCTOBER 2024. Page 6/75 I, III, and IV C) II and IV D) I, II, and III - Answer-D) I, II, and III As a member of a team of financial advisors, a financial planner's responsibilities for a client typically i...

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  • October 15, 2024
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  • 2024/2025
  • Exam (elaborations)
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EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED. FIRST PUBLISH OCTOBER 2024.




CFP 5111 Exam Questions and Answers|
100% Pass

The preamble of CFP Board's Code of Ethics and Standards of Conduct describes the value of

upholding aspirational standards and incorporating them into everyday financial planning

practice. Identify the purpose(s) of the Code and Standards contained in the preamble.




To hold all CFP® professionals to high standards of competency and ethics


To benefit and protect the public


To investigate, review, consider recommendations, and issue final decisions on allegations of

violations and/or noncompliance


To advance financial planning as a distinct and valuable profession - Answer✔✔-To hold all CFP®

professionals to high standards of competency and ethics


To benefit and protect the public


To advance financial planning as a distinct and valuable profession


Emma, a CFP® professional, has a thriving financial planning practice in a small town. As part of

clients' financial planning engagements with Emma, these clients have provided her with a




Page 1/75

,EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED. FIRST PUBLISH OCTOBER 2024.



considerable amount of confidential information. Under which of the following circumstances

can Emma reveal confidential client information?




To defend herself against charges of wrongdoing


To give an example in a meeting with another client


To demonstrate to prospective clients the types of services Emma provides


To provide information to an estate planning attorney who is working on a similar case -

Answer✔✔-To defend herself against charges of wrongdoing


Ross and Jackie recently retired and are planning an Asian vacation to celebrate their 45th

wedding anniversary. When they return, they would like to meet with you, their financial

planner, to discuss charitable contributions they would like to make. Ross and Jackie are

currently in which life cycle phase?




A)


Conservation phase


B)


Protection phase


C)



Page 2/75

,EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED. FIRST PUBLISH OCTOBER 2024.



Asset accumulation phase


D)


Distribution phase - Answer✔✔-D)


Distribution phase


Stephanie, a CFP® professional, is working with a graphic artist to design a new brochure

advertising her services. On the cover, under her name, she advertises herself as a CFP®

consultant. Inside the brochure, under her name, she identifies herself as a CERTIFIED

FINANCIAL PLANNER™. According to CFP Board's guidelines regarding how the CFP® marks may

be used, which of the following is CORRECT?




Advertising herself as a CFP® consultant is prohibited by CFP Board.


Following her name, Stephanie could have identified herself as a CFP®.


Stephanie has correctly identified herself as a CERTIFIED FINANCIAL PLANNER™.




A)


II and III


B)


I, II, and III


Page 3/75

, EMILLECT 2024/2025 ACADEMIC YEAR ©2024 EMILLECT. ALL RIGHTS RESERVED. FIRST PUBLISH OCTOBER 2024.



C)


I and III


D)


I only - Answer✔✔-B)


I, II, and III


CFP Board provides guidelines regarding how the CFP® marks may be used in documents or

marketing materials. Identify the items that are required when the words CERTIFIED FINANCIAL

PLANNER are used.




Always use the ™ symbol.


Always associate with CFP Board.


Always use capital letters or small-cap font.


Always use with one of CFP Board's approved nouns (certificant, professional, practitioner,

certification, mark, exam) unless directly following the name of the individual certified by CFP

Board.




A)


I and III


Page 4/75

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