Exam (elaborations)
CFP EXAM SOLVED EXAMINATION 2024/2025
- Course
- Institution
CFP EXAM SOLVED EXAMINATION 2024/2025
[Show more]
Content preview
CFP EXAM SOLVED EXAMINATION2024/2025
Topic 1: Financial Planning Process Answer: ...
6 step process: EGADIM Answer: 1. Establish Relationship
2. Gather Information
3. Analyze data
4. Develop plan
5. Implement
6. Monitor
Step 1: Establish Relationship Answer: • Services that will be provided
• compensation/billing
• Responsibilities of both client/planner
• Time frame of relationship
Step 2: Gather quantitative and qualitative data Answer: • It is important that goals be defined
before any recommendations
• A goal should be specific, prioritized and quantified
• Fact finder form
Step 3: Analyze data Answer: • Identify strengths and weaknesses
• Analysis of current position
• Should be based on realistic assumptions
, Step 4: Develop Plan Answer: • Objective
• Should be presented to client
• Mutually decide on revisions
• Prioritized list of implementation steps and timing
Step 5: Implement Answer: • Work closely with other professional team members
• Help client with product acquisitions
Step 6: Monitor Answer: • Fed tax changes
• Economic changes
• Modifications to plan
Topic 2: Code of Ethics & Professional Responsibility + Disciplinary Rules Procedures Answer: ...
Aspirational Principles Answer: • Integrity
• Objectivity
• Competence
• Fairness
• Confidentiality
• Professionalism
• Diligence
Confidential Information can be disclosed only when... Answer: • The client consents
• Court ordered
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now