CHFC® FINAL EXAM
QUESTIONS AND ANSWERS
2025 GRADED A+
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, 1. Defined-benefit plans and defined-contribution plans are considered nonqualified
retirement plans. [LO 10.9]
A) True
B) False
**(B) is correct. The answer is false.**
2. Business planning is defined as planning for maximum income production as well as
any business-ownership interest over which the client can exert sufficient control to
effect a change in the business's operations or strategic direction. [LO 2.4]
A) True
B) False
**(A) is correct. The answer is true.**
3. The master outline emphasizes recommendations and is written for the client, not
the advisor. [LO 2.1]
A) True
B) False
**(A) is correct. The answer is true.**
4. A financial advisor counseling a client will [LO 2.2]
A) ask structured questions to learn more about the client
B) refocus discussion on the present and build a plan of action
C) learn about the client through an unstructured conversation
D) provide specific guidance based on his or her technical knowledge
**Correct answer: (B).**
Explanation: Advisors often help clients relax and refocus on current situations;
choices (A), (C), and (D) describe different techniques.
QUESTIONS AND ANSWERS
2025 GRADED A+
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, 1. Defined-benefit plans and defined-contribution plans are considered nonqualified
retirement plans. [LO 10.9]
A) True
B) False
**(B) is correct. The answer is false.**
2. Business planning is defined as planning for maximum income production as well as
any business-ownership interest over which the client can exert sufficient control to
effect a change in the business's operations or strategic direction. [LO 2.4]
A) True
B) False
**(A) is correct. The answer is true.**
3. The master outline emphasizes recommendations and is written for the client, not
the advisor. [LO 2.1]
A) True
B) False
**(A) is correct. The answer is true.**
4. A financial advisor counseling a client will [LO 2.2]
A) ask structured questions to learn more about the client
B) refocus discussion on the present and build a plan of action
C) learn about the client through an unstructured conversation
D) provide specific guidance based on his or her technical knowledge
**Correct answer: (B).**
Explanation: Advisors often help clients relax and refocus on current situations;
choices (A), (C), and (D) describe different techniques.
