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Busi 352 Final Exam Questions And Answers | Guaranteed Success
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Busi 352 Final Exam Questions And Answers | Guaranteed Success
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Busi 352 Final Exam Questions AndAnswers | Guaranteed Success
A good financial planning report must include an analysis of all of the following EXCEPT
CORRECT ANSWERS Why you failed previously
Usual financial planning goals include the following EXCEPT CORRECT ANSWERS
Career planning
A clients formal financial planning report that summarizes all of the following EXCEPT
CORRECT ANSWERS Turnover - when and ow the client will sell certain investments
Which of the following is true regarding the types of financial problems clients will face
in their lives? CORRECT ANSWERS Taxes add to the cost of an investment and slow
progress toward the clients goals
Which of the following is true regarding the contents of financial plan? CORRECT
ANSWERS The plan should have a discussion f how to achieve goals
The six steps in the financial management process outlined by the authors include the
following EXCEPT CORRECT ANSWERS Establish living wills
Which of the following is true regarding risk CORRECT ANSWERS Attitudes about risk
are likely to change over a persons lifetime
which of the following statements is true regarding the financial objectives CORRECT
ANSWERS after they have been identified, they should be prioritized
which of the following is true regarding developing a financial plan? CORRECT
ANSWERS This involves budgeting and income and expenses
Which of the following is true regarding a persons standard of living? CORRECT
ANSWERS income not allocated to maintaining a persons standard of living should be
allocated to other financial objectives
Which of the following is true regarding taxes CORRECT ANSWERS high tax brackets
indicate planning opportunities
Which of the following is NOT part of the definition of an Investment Advisor as defined
by the Investment Advisers Act of 1940 (the Act) CORRECT ANSWERS Holds a CFP
or Series 7 license
The Act defines compensation as CORRECT ANSWERS receipt of any economic
benefit
, Which of the following is NOT exempt from the definition of an investment Advisor
CORRECT ANSWERS Insurance agent who advises clients about no load mutual funds
The "Brochure rule" requires that the investment advisor to do which of the following?
CORRECT ANSWERS Deliver a written disclosure document (such as part II of form
ADV) to each client
Which of the following statements about the definition of "security"under the investment
advisor act is CORRECT CORRECT ANSWERS the act defines the term "security" in
the broadest possible fashion
If john Smith is registered as an investment advisor with the SEC, which of the following
designations is permitted under the Act? CORRECT ANSWERS John Smith,
Registered investment Advisor
Rules issued by the SEC require investment advisors to do the following EXCEPT
CORRECT ANSWERS Accept only U.S. citizens as clients
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 CORRECT
ANSWERS Lawsuit against the advisor in Federal Court
Which of the following are PROHIBITED uses of the CFP marks? CORRECT
ANSWERS All of the above
Under the CFP boards code of ethics and professional responsibility, a financial planner
who has reason to suspect illegal conduct in his or her organization must: CORRECT
ANSWERS All of the above
An important requirement that is common to the SEC rules for investment advisors and
the CFP boards code of ethics is CORRECT ANSWERS Full disclosure of all material
information to clients
The Principle of objectivity in the code of Ethics and Professional Responsibility of the
CFP board of Standards requires that a CFP practitioner CORRECT ANSWERS All of
the above
The CFP boards financial planning practice standards are designed to accomplish all of
the following except CORRECT ANSWERS Facilitate the weeding out of incompetent
financial advisors
Which of the following is true regarding the relationship a planner has with the client
CORRECT ANSWERS it is possible that the scope of the relationship will change over
time
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