Certified Financial Planner Board of Standards Inc (FINANCEMISC)

CFP Exam - Random Facts to remember (New Update 2023) Annuity due - CORRECT ANSWER use BEGIN mode on calculator Ordinary Annuity - CORRECT ANSWER use END mode on calculator Fiduciary duty (ddf) - CORRECT ANSWER -duty of loyalty -duty of care -follow instructions Integrity (huc) - CORRECT ANSWER -honesty -upstanding -candor Competence - CORRECT ANSWER relevantly apply knowledge Diligence (tt) - CORRECT ANSWER -timely -thorough Disclose and manage conflicts of interest (admma) - CORR...

CFP Exam Flash Cards with Correct and Updated Solutions 2022/2023 Savings Strategy: How much of your gross income should you save? - CORRECT ANSWER 5-8% Securities Act of 1933 - CORRECT ANSWER Purchasers of new issues must be provided with a detailed prospectus before transaction. Securities Act of 1934 - CORRECT ANSWER Regulates the secondary Market or trading of issued securities. This act created the SEC Investment Company Act of 1940 - CORRECT ANSWER SEC can regulate UITs, Mutu...

CFP Exam Unit 1 - July 2022 with Updated Questions and Answers Steps to Financial Planning - EGADCIM - CORRECT ANSWER 1. Establishing and defining the client planner relationship 2. Gathering information necessary to fulfill the engagement 3. Analyzing and evaluating the client's current financial status 4. Developing the recommendations 5. Communicating the recommendations 6. Implementing the recommendations 7. Monitoring the recommendations Eight Principal Knowledge Categories - C...

CFP Exam 2022/2023 with Complete Solutions CFP Standards of Conduct Sections (6) - CORRECT ANSWER A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct - CORRECT ANSWER Duties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Disclose and Manage ...

CFP Exam Review with Updated Questions and Answers 2023 Eurodollar - CORRECT ANSWER a deposit in a foreign bank that is denominated in dollars Yankee Bond - CORRECT ANSWER dollar denominated bonds issued in the US by foreign banks and corporations, used when market conditions in the US are better than those overseas. OID - CORRECT ANSWER original issue discount - a bond discounted from par value as a zero coupon bond. There is no taxable phantom income from interest accretion but ...

CFP exam new update 2023 with complete solutions 6 step process: EGADIM - CORRECT ANSWER 1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - CORRECT ANSWER • Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data - CORRECT ANSWER • It is important that goals be defined b...