Busi 352 Final Question with 100 % correct answers | Verified graded A+
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Course
Busi 352
Institution
Busi 352
A financial planning professional must do all of the following with the client EXCEPT - prove to the
client why taking more risk is needed
A good financial planning report must include an analysis of all of the following EXCEPT - Why you
failed previously
A Keogh plan is most commonly designed ...
Busi 352 Final
A financial planning professional must do all of the following with the client EXCEPT - ✔✔prove to the
client why taking more risk is needed
A good financial planning report must include an analysis of all of the following EXCEPT - ✔✔Why you
failed previously
A Keogh plan is most commonly designed as a - ✔✔defined contribution plan
a nondeductible traditional IRA - ✔✔allow prior nondeductible contributions to be distributed tax free
a planning technique used to leave property to children in place of money given to charity is called
what? - ✔✔Wealth replacement trust
a tax-free rollover of a Roth IRA can be made to - ✔✔another Roth IRAa cash balance plan and a
tradition defined benefit plan share which of the following characteristics - ✔✔all of the above
A clients formal financial planning report that summarizes all of the following EXCEPT - ✔✔Turnover -
when and ow the client will sell certain investments
A clients formal financial planning report that summarizes all of the following EXCEPT - ✔✔Turnover-
when and how the client will sell certain investments
a contract entered into between a charity and donor where the charity agrees to pay the donor a
specific amount in exchange for an amount transferred to the charity is which of the following -
✔✔Charitable gift annuity
a disadvantage of profit sharing plans is that - ✔✔a and c
,A traditional IRA - ✔✔a and c
According to the authors, he three C's of credit include the following EXCEPT - ✔✔Competence
according to the code of ethics and professional responsibility, a CFP practitioner who gives a brochure
to clients disclosing information about his or her firm must include all of the following EXCEPT - ✔✔the
identity of the bank or other institution where the firm maintains a checking account
Advantages of a money purchase plan from the employers point of view include which of the following -
✔✔only b and c
Advantages of defined benefit plans include all of the following EXCEPT - ✔✔a defined benefit plans are
easy to design and easy to explain to employees
All of the following are the disciplinary actions that the CFP Board may take against a financial advisor
who is in violation of the Code of Ethics EXCEPT - ✔✔Lawsuit against the advisor in Federal Court
all of the following are true regarding money purchase plans except - ✔✔most money purchase plans
benefit formulas use a factor related to the employees service that favors owners and key employees
All of the following factors need to be considered in assessing the adequacy of funds needed to fund a
clients income needs during retirement EXCEPT - ✔✔Living trust funds
All of the following statements about tenancy in common are true EXCEPT - ✔✔Transfer at death occurs
without the probate process
an advantage of a profit sharing plan from the employers point of view includes which of the following?
- ✔✔all of the above
, an employer who wants to reward an employee's years of service and contribution to the company
(measured as salary) would use a defined benefit plan formula based on a - ✔✔unit credit formula
An important requirement that is common to the SEC rules for investment advisors and the CFP boards
code of ethics is - ✔✔Full disclosure of all material information to clients
angel Snider, age 32, has $19,000 in her qulified retirement plan. The max amount that Angela can
borrow against her account is - ✔✔$10,000
any distributions from a qualified retirement plan is eligible for a rollover except which of the following -
✔✔only a and c
April shows, age 30, opened the Unique Boutique 5 years ago. April has five employees ranging in age
from 25-42. Earnings have fluctuated. Profits have been made only in the last two years. April should -
✔✔not established a defined benefit plan because it is not likely April can meet the annual funding
requirements
April Storm has earned 40 quarters of.... - ✔✔False
As an actuary, you are helping roadster custom auto shop determine the annual cost of its defined
benefit plan. In making your calculations, you must make reasonable assumptions about: - ✔✔all of the
above
Blake Johnston retired from Brumley Enterprises a month after his 56th birthday. Blake began receiving
a series of substantially equal periodic payments from his qualified plan based on his life expectancy -
✔✔he will not incur any additional taxes
borrowing from an IRA - ✔✔is not allowed
Brothers Tim and Jim Shanton have asked you, their financial advisor, to settle a friendly quarrel
between them - ✔✔both are right, the two investments are actuarially equivalent
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