CFP EXAM PREP |ACTUAL QUESTIONS AND
VERIFIED ANSWERS|BRAND NEW 2026-2027
UPDATE|GRADED A+
Question 1
John Becker expects to receive $100,000 from a trust fund in nine years. What is the
current value of this fund if it is discounted at 8% compounded semiannually?
A.$49,362.81
B.$50,024.90
C.$51,278.94
D.$82,500.29
CORRECT ANSWER
A
P/Yr = 2
N=9
I = 8/2 = 4
PMT = 0
FV = -100,000
PV = 49,362
Question 2
If a potential client implies that they are unable to confide certain elements of their
business to you during the fact finding phase of the interview, what should you do?
A.Continue and hope they will answer your questions later.
B.Fill in the blank spaces using estimates.
C.Call the authorities and report possible illegal activities.
D.Thank them for their time, close up the interview and do not engage them as clients.
1
,CORRECT ANSWER
D
Question 3
Walter is submitting his Initial Application for CFP® certification with the CFP Board of
Standards. Four years earlier, Walter signed a Letter of Acceptance, Waiver and Consent
with FINRA, as part of FINRA arbitration hearing. As part of the arbitration settlement,
Walter consented to a 30-day suspension, a fine of $100,000 and 20 hours of continuing
education.
A.Walter cannot disclose the FINRA arbitration because if he reports the arbitration to the
CFP Board, he would be violating duties owed to clients (9- confidentiality) [
B.Walter should disclose the FINRA arbitration to the CFP Board.
C.Walter may disclose the FINRA arbitration, but is not required to disclose the arbitration,
because the matter was settled more than five years prior to Walter applying.
D.CFP Board Practice Standards require Walter is to disclose any and all arbitration, civil or
criminal suits.
CORRECT ANSWER
B
Question 4
What is the first point during a client relationship that a CFP® professional must disclose
conflicts of interest?
A.When coordinating the financial planning recommendations with other professionals
B.During the client data-gathering process
C.At the initiation of the client relationship, before providing services
D.Upon presenting financial planning recommendations
CORRECT ANSWER
2
, C
Question 5
Which of the following is not one of the "buckets" of compensation the CFP Board states
must be considered when determining compensation disclosure?
A.Compensation the CFP® professional's other clients receive or are entitled to receive from
any association with the CFP® professional
B.How the client pays for products, services and additional incurred costs including
surrender charges and sales loads
C.How the CFP® professional and their firm are compensated for providing products and
services.
D.Disclosure of Economic Benefit for Referral or Engagement of Additional Persons
CORRECT ANSWER
A
Question 6
All of the following CFP® certificants are likely required to follow process practice
standards EXCEPT:
A.Jennifer is performing detailed data-gathering on multiple aspects of her client's financial
situation
B.Rachel is assisting her client determine whether and how to implement financial
recommendations made by the client's accountant
C.Ralph is executing transactions recommended by his client's attorney
D.Jack is analyzing a client's data and making wide-ranging recommendations
CORRECT ANSWER
C
3
, Question 7
When should a financial planning client immediately contact their CFP® Professional?
A.When the client has an additional child.
B.If there is a change in the client's marital status.
C.If there is a change in the client's tax rate.
D.If there is a change in the client's employer.
CORRECT ANSWER
B
Question 8
]
Becca, age 24, applied for CFP® Certification. The Disciplinary and Ethics Commission denied
her application because she had been convicted of second degree assault and battery and
served nine months of her two year sentence in the county jail at the age of 18, while she
was a member of a street gang. She has served her time, graduated from college and has
decided to appeal the decision of the Disciplinary and Ethics Commission. All of the
following are true regarding the review process EXCEPT:
A.She must submit a written petition for consideration to Professional Review staff and sign
a form agreeing to CFP Board's jurisdiction.
B.Staff will review the request to ensure the transgression falls within the "presumed
unacceptable" list.
D.The Disciplinary and Ethics Commission's decision regarding a petition for consideration is
final.
CORRECT ANSWER
D - The DEC's decision regarding a petition for consideration may be appealed to the
Appeals Committee of the Board of Directors,
Question 9
4
VERIFIED ANSWERS|BRAND NEW 2026-2027
UPDATE|GRADED A+
Question 1
John Becker expects to receive $100,000 from a trust fund in nine years. What is the
current value of this fund if it is discounted at 8% compounded semiannually?
A.$49,362.81
B.$50,024.90
C.$51,278.94
D.$82,500.29
CORRECT ANSWER
A
P/Yr = 2
N=9
I = 8/2 = 4
PMT = 0
FV = -100,000
PV = 49,362
Question 2
If a potential client implies that they are unable to confide certain elements of their
business to you during the fact finding phase of the interview, what should you do?
A.Continue and hope they will answer your questions later.
B.Fill in the blank spaces using estimates.
C.Call the authorities and report possible illegal activities.
D.Thank them for their time, close up the interview and do not engage them as clients.
1
,CORRECT ANSWER
D
Question 3
Walter is submitting his Initial Application for CFP® certification with the CFP Board of
Standards. Four years earlier, Walter signed a Letter of Acceptance, Waiver and Consent
with FINRA, as part of FINRA arbitration hearing. As part of the arbitration settlement,
Walter consented to a 30-day suspension, a fine of $100,000 and 20 hours of continuing
education.
A.Walter cannot disclose the FINRA arbitration because if he reports the arbitration to the
CFP Board, he would be violating duties owed to clients (9- confidentiality) [
B.Walter should disclose the FINRA arbitration to the CFP Board.
C.Walter may disclose the FINRA arbitration, but is not required to disclose the arbitration,
because the matter was settled more than five years prior to Walter applying.
D.CFP Board Practice Standards require Walter is to disclose any and all arbitration, civil or
criminal suits.
CORRECT ANSWER
B
Question 4
What is the first point during a client relationship that a CFP® professional must disclose
conflicts of interest?
A.When coordinating the financial planning recommendations with other professionals
B.During the client data-gathering process
C.At the initiation of the client relationship, before providing services
D.Upon presenting financial planning recommendations
CORRECT ANSWER
2
, C
Question 5
Which of the following is not one of the "buckets" of compensation the CFP Board states
must be considered when determining compensation disclosure?
A.Compensation the CFP® professional's other clients receive or are entitled to receive from
any association with the CFP® professional
B.How the client pays for products, services and additional incurred costs including
surrender charges and sales loads
C.How the CFP® professional and their firm are compensated for providing products and
services.
D.Disclosure of Economic Benefit for Referral or Engagement of Additional Persons
CORRECT ANSWER
A
Question 6
All of the following CFP® certificants are likely required to follow process practice
standards EXCEPT:
A.Jennifer is performing detailed data-gathering on multiple aspects of her client's financial
situation
B.Rachel is assisting her client determine whether and how to implement financial
recommendations made by the client's accountant
C.Ralph is executing transactions recommended by his client's attorney
D.Jack is analyzing a client's data and making wide-ranging recommendations
CORRECT ANSWER
C
3
, Question 7
When should a financial planning client immediately contact their CFP® Professional?
A.When the client has an additional child.
B.If there is a change in the client's marital status.
C.If there is a change in the client's tax rate.
D.If there is a change in the client's employer.
CORRECT ANSWER
B
Question 8
]
Becca, age 24, applied for CFP® Certification. The Disciplinary and Ethics Commission denied
her application because she had been convicted of second degree assault and battery and
served nine months of her two year sentence in the county jail at the age of 18, while she
was a member of a street gang. She has served her time, graduated from college and has
decided to appeal the decision of the Disciplinary and Ethics Commission. All of the
following are true regarding the review process EXCEPT:
A.She must submit a written petition for consideration to Professional Review staff and sign
a form agreeing to CFP Board's jurisdiction.
B.Staff will review the request to ensure the transgression falls within the "presumed
unacceptable" list.
D.The Disciplinary and Ethics Commission's decision regarding a petition for consideration is
final.
CORRECT ANSWER
D - The DEC's decision regarding a petition for consideration may be appealed to the
Appeals Committee of the Board of Directors,
Question 9
4
