Cfp investments - Study guides, Class notes & Summaries

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...

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 in...

Above all, personal financial planning is centered on _________________. - ANSWER-people Financial planning is defined in the CFP Board's Code of Ethics and Standards of Conduct (Code and Standards) as ... - ANSWER-"a collaborative process that helps maximize a Client's potential for meeting life goals through Financial Advice that integrates relevant elements of the Client's personal and financial circumstances." Define Financial Planning (2 definitions) - ANSWER-a collaborative proc...

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...

History of Financial Planning - ANSWER-1960's - few stock brokers and insurance salesmen 1970's - industry went from stock and insurance sales to comprehensive financial plans 1971 - College of Financial Planning founded 1973 - first CFP's issued to 42 people 1990's - booming economy entrance of many traditional banks and brokerage houses into financial planning area Name different duties of a financial planner - ANSWER-- comprehensive financial plan - selecting overall asset alloc...

A good financial planning report must include an analysis of all of the following except a. where you are now b. where you want to be c. why you failed previously d. how to reach your goals - correct answer c Usual financial planning goals include the following except a. retirement funding b. current lifestyle c. career planning d. estate planning - correct answer c A client's formal financial planning rep...

CFP Study Guide Exam 2023 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 - CORRECT ANSWER-1. Professional Conduct ...

A planner observes the following about the client: age 65, knowledgeable about investments, retiring in 2 years, perfect health, financially secure and would like to invest for his grandchildren who are 2 and 5 years old. Which of the following may be the best asset allocation for the clients needs? - ️️Aggressive growth (80% stocks; 20% bonds) A professional suspension includes the suspension or bar as a disciplinary measure for which of the following professional licenses? Click all that ...

Net (After Tax) Yield - ANSWER-[(1+After Tax Return)/(1+Inflation)-1]x100 A young couple (both age 30) comes to the financial planner with the desire for assistance in improving their family's financial position. They have two healthy children, ages 3 and 6. The husband is a foreman for a manufacturer of auto parts. His current salary is $30,000 per year. The wife is a marketing professor for a state university. Her current salary is $40,000 per year. The couple recently purchased a riverfro...