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FP 511 EXAM ( ACTUAL EXAM) / CERTIFIED FINANCIAL PROFESSIONAL CFP EXAM WITH CORRECT 300+ CORRECT QUESTIONS AND ANSWERS LATEST 2024 GOOD GRADE IS GUARANTEED ALREADYIAGRADE $15.79
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FP 511 EXAM ( ACTUAL EXAM) / CERTIFIED FINANCIAL PROFESSIONAL CFP EXAM WITH CORRECT 300+ CORRECT QUESTIONS AND ANSWERS LATEST 2024 GOOD GRADE IS GUARANTEED ALREADYIAGRADE
FP 511 EXAM ( ACTUAL EXAM) / CERTIFIED FINANCIAL PROFESSIONAL CFP EXAM WITH CORRECT 300+ CORRECT QUESTIONS AND ANSWERS LATEST 2024 GOOD GRADE IS GUARANTEED ALREADYIAGRADE
FP 511 EXAM ( ACTUAL EXAM) / CERTIFIED
FINANCIAL PROFESSIONAL CFP EXAM
WITH CORRECT 300+ CORRECT QUESTIONS
AND ANSWERS LATEST 2024 GOOD GRADE
IS GUARANTEED ALREADYIAGRADE
,Code of ethics - ANSWERS-Act with honesty, integrity, competence, and
diligence
Act in the clients best interest
Exercise due care
Avoid or disclose and manage conflicts of interest
Maintain the confidentiality and protect the privacy of client
information
Act in a manner that reflects positively on the financial planning
profession and CFP certification
Joseph, a licensed attorney, decided to focus more on financial
planning and no longer offer divorce advice. As a member of a team of
financial advisers, Joseph's responsibilities to his client typically include
which of the following?
i. Helping the client identify and select financial goals
ii. Drafting a power of attorney for the client
iii. Analyzing the client's current course of action
iv. Monitoring whether the client is complying with a plan after
implementation - ANSWERS-All of the above - because Joseph is a
licensed attorney he can draft legal documents as well
Identify the responsibilities a CFP® professional must uphold while
working with another professional on a client's behalf.
i. Communicate with the other professional about the services each will
provide
,ii. Monitor the professional to ensure their compliance with the Code
and Standards
iii. Communicate respective responsibilities
iv. Inform the client in a timely manner if the other professional did not
perform the services in accordance with the scope of services -
ANSWERS-i., iii., and iv. - CFP professionals do not have to monitor the
professional to ensure compliance with the Code and Standards
When a client-planner engagement involves Financial Advice for which
Financial Planning is required, and the client does not enlist the planner
for services, the Planner must abide by
i. Fiduciary Duty.
ii. the Code of Ethics.
iii. the Practice Standards for the Financial Planning Process.
iv. the Suitability Standard. - ANSWERS-i. and ii - in instances where the
engagement involves financial advice that requires financial planning
but the client does not enlist the planners services the planners must
uphold the fiduciary duty and abide by the code of ethics but the
practice standards is not required
According to the CFP Board's Code and Ethics, under Standards of
Conduct that relate to Duties Owed to Clients, which of the following
are requirements with which the CFP® certificant must comply?
i Make only recommendations that are suitable for the client.
ii. Use the CFP® mark in compliance with the rules and regulations of
the CFP Board.
, iii. Exercise reasonable care when supervising persons acting under the
CFP® professional's direction.
iv. May not make false or misleading representations to CFP Board or
obstruct CFP Board in the performance of its duties - ANSWERS-i. only -
while all of those duties are in the code they are not all under duties
owed to clients, it is important to read the questions carefully.
For example - the correct use of the CFP mark is found in teh rules
related to Obligations to the CFP board not to clients, excercising
reasonable care when supervising persons acting under the CFP
professionals direction is found in duties owed to firms and
subordinates, not to clients
Developing a financial plan often involves input from a team of financial
advisors employed by the client. Members of this team may include
which of the following professionals?
i. A CPA
ii. A banker
iii. A private money manager
iv. An estate-planning attorney - ANSWERS-All of the above - a team of
financial advisors may include all of these professionals, this team
might include other professionals as well like a life insurance agent or a
property and casualty insurance agent
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