CFP Exam Comprehensive Verified Exam Questions and Answers Latest update 2026/2027

CFP Exam Comprehensive
Verified Exam Questions and Answers Latest update 2026/2027

Question:
Topic 1: Financial Planning Process -
Answer:
...

Question:
6 step process: EGADIM -
Answer:
1. Establish Relationship

2. Gather Information

3. Analyze data

4. Develop plan

5. Implement

6. Monitor

Question:
Step 1: Establish Relationship -
Answer:
• Services that will be provided

• compensation/billing

• Responsibilities of both client/planner

• Time frame of relationship

Question:
Step 2: Gather quantitative and qualitative data -

,Answer:
• It is important
that goals be defined before any recommendations

• A goal should be specific, prioritized and quantified

• Fact finder form

Question:
Step 3: Analyze data -
Answer:
• Identify strengths and weaknesses

• Analysis of current position

• Should be based on realistic assumptions

Question:
Step 4: Develop Plan -
Answer:
• Objective

• Should be presented to client
• Mutually decide on revisions

• Prioritized list of implementation steps and timing

Question:
Step 5: Implement -
Answer:
• Work closely with other professional team
members

• Help client with product acquisitions

Question:
Step 6: Monitor -

, Answer:
• Fed tax changes

• Economic changes

• Modifications to plan

Question:
Topic 2: Code of Ethics & Professional Responsibility + Disciplinary Rules Procedures -
Answer:
...

Question:
Aspirational Principles -
Answer:
• Integrity

• Objectivity

• Competence

• Fairness

• Confidentiality

• Professionalism

• Diligence

Question:
Confidential Information can be disclosed only when... -
Answer:
• The
client consents

• Court ordered

• CFP must defend accusations

• Civil suit between client and CFP