CFP EXAM 2026/2027 UPDATE | VERIFIED QUESTIONS & ANSWERS
100% CORRECT | GRADED A+
Code of ethics acronym - ANSWER ICOCFPD - I can obtain CFP designations
Integrity
Competence
Objectivity
Confidentiality
Fairness
Professionalism
Diligence
Four elements that determine if a certificate is engaged in financial planning - ANSWER 1. Clients
understanding and intent in engaging certificate
2.degree to which multiple subject areas
3.comprehensiveness of data gathering
4.Breadth and depth of recommendations
**when in doubt, assume planner IS engaged
Acronym for the financial planning process - ANSWER E- establish client (EVEN)
G-gather client data (GOD)
A-analyze (ADMITS)
D-developing (DAT)
I-implementing (IS)
M-Monitoring (Mesmerizing)
Acronym for what written agreement must include if involving financial planning. - ANSWER PTSD
-Parties
-Terms
-Date
, -Services
AND put the clients interest above his
When can a certificant lend money to a client. - ANSWER •Certificate cannot lend money to client
unless:
certificant is an employee or an institution in the business of lending and the money if not the
certificates.
client is an IMMEDIATE family member.
Certificant must do what if conviction of a crime? - ANSWER Notify the CFP board - in WRITING
**Except misremembers, traffic violation(excluding use of alcohol, drugs or any professional
suspension or bar suspension within 30 days of certifications notification.
Will always bar an individual - ANSWER •Felony - tax or finance related-murder/rape
•Felony for any other violent crime in last 5 years
•Revocation finance related license - i.e. not renewing license - unless revocation is administrative in
nature.
Presumed to be unacceptable - ANSWER •Two or more personal bankruptcies
•Revocation non finance relation - real estate license
•Felony - nonviolent crime WTHIN LAST 5 YEARS
•Felony conviction for violent crime OTHER than murder or rape MORE than 5 years ago
Always treat info as confidential EXCEPT - ANSWER o As required in response to a proper legal
process
o As necessitated by obligations to a certificates employer or partners
o To defend against charges of wrongdoing
o In connection with a civil dispute
o Or as needed to perform the services
Acronym - what defines an investment advisor - ANSWER An advisor knows his ABC's!
100% CORRECT | GRADED A+
Code of ethics acronym - ANSWER ICOCFPD - I can obtain CFP designations
Integrity
Competence
Objectivity
Confidentiality
Fairness
Professionalism
Diligence
Four elements that determine if a certificate is engaged in financial planning - ANSWER 1. Clients
understanding and intent in engaging certificate
2.degree to which multiple subject areas
3.comprehensiveness of data gathering
4.Breadth and depth of recommendations
**when in doubt, assume planner IS engaged
Acronym for the financial planning process - ANSWER E- establish client (EVEN)
G-gather client data (GOD)
A-analyze (ADMITS)
D-developing (DAT)
I-implementing (IS)
M-Monitoring (Mesmerizing)
Acronym for what written agreement must include if involving financial planning. - ANSWER PTSD
-Parties
-Terms
-Date
, -Services
AND put the clients interest above his
When can a certificant lend money to a client. - ANSWER •Certificate cannot lend money to client
unless:
certificant is an employee or an institution in the business of lending and the money if not the
certificates.
client is an IMMEDIATE family member.
Certificant must do what if conviction of a crime? - ANSWER Notify the CFP board - in WRITING
**Except misremembers, traffic violation(excluding use of alcohol, drugs or any professional
suspension or bar suspension within 30 days of certifications notification.
Will always bar an individual - ANSWER •Felony - tax or finance related-murder/rape
•Felony for any other violent crime in last 5 years
•Revocation finance related license - i.e. not renewing license - unless revocation is administrative in
nature.
Presumed to be unacceptable - ANSWER •Two or more personal bankruptcies
•Revocation non finance relation - real estate license
•Felony - nonviolent crime WTHIN LAST 5 YEARS
•Felony conviction for violent crime OTHER than murder or rape MORE than 5 years ago
Always treat info as confidential EXCEPT - ANSWER o As required in response to a proper legal
process
o As necessitated by obligations to a certificates employer or partners
o To defend against charges of wrongdoing
o In connection with a civil dispute
o Or as needed to perform the services
Acronym - what defines an investment advisor - ANSWER An advisor knows his ABC's!
