Busi 352 Financial Planning - Multiple Choice Ch. 1-7 Exam With Correct Actual Questions And Correctly Well Defined Answers.
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Course
BUSI 352
Institution
BUSI 352
Raven recently came to your office for her second appointment after receiving your engagement letter. During the meeting you collect several documents from her including her prior year tax returns, estate planning documents, and investment statements and history. You also worked with her on identif...
Raven recently came to your office for her second appointment after receiving your engagement letter.
During the meeting you collect several documents from her including her prior year tax returns, estate
planning documents, and investment statements and history. You also worked with her on identifying
and prioritizing her goals and objectives. Which of the following is the next step in the financial planning
process?
a. Presenting the financial planning recommendations.
b. Analyzing the client's current course of action and potential alternative courses of action.
c. Implementing the financial planning recommendations.
d. Developing the financial planning recommendations. - correct answer b
Your client, Jed, engaged you to help him with his financial situation. During the course of your meetings
you sold Jed a $1,000,000 life insurance policy. Which part of the financial planning process were you
engaged in?
a. Analyzing the client's current course of action and potential alternative courses of action.
b. Monitoring progress and updating.
c. Developing the financial planning recommendations.
d. Implementing the financial planning recommendations. - correct answer d
After meeting with your new client, Nala, you used a Monte Carlo simulation within your financial
planning software to project the likelihood of meeting her retirement objective based on her current
retirement plan contributions and investment portfolio allocation. Which part of the financial planning
process were you engaged in?
a. Monitoring progress and updating.
b. Implementing the financial planning recommendations.
c. Analyzing the client's current course of action and potential alternative courses of action.
d. Developing the financial planning recommendations. - correct answer c
, Thalmus, a local CFP® practitioner, recently met with one of his new clients, Merrell. During the course
of the meeting Thalmus did the following things:
1. Thalmus did not meet with Merrell until 10 minutes after the scheduled start time.
2. In order to establish Merrell's confidence in him, Thalmus told Merrell the names of several well
known clients that currently do business with him.
3. Thalmus asked Merrell several questions regarding Merrell's family situation, hobbies, and activities.
Which of these actions would be considered inappropriate?
a. 3 only.
b. 1 and 2.
c. 2 and 3.
d. 1, 2 and 3. - correct answer b
Reverend Lola Pak, a prospective client, came to your office for the first time today. Which is the most
appropriate way to greet her?
a. "Welcome to my office."
b. "Welcome to my office, Ms. Pak."
c. "Welcome to my office, Reverend Pak."
d. "Welcome to my office, Lola." - correct answer b
Which of the following is (are) consistent with the Humanistic Paradigm?
1. The majority of Humanistic theories view clients as experts on themselves.
2. The alliance between the counselor and client is extremely important for humanistic counselors and is
the basis of the treatment or plan of action.
3. There needs to be a professional distance between the client and adviser where the adviser should
stay close to discussing numbers and data with the client.
a. 1 only.
b. 1 and 2.
c. 1 and 3.
d. All of the above. - correct answer b
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