CFO EXAM (COMPLETE ANSWERS elaborations) 2026 UPDATE

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CFO EXAM (COMPLETE ANSWERS elaborations)
2026 UPDATE

6 step process: EGADIM ......ANSWER......1. Establish Relationship
2. Gather Information
3. Analyze data
4. Develop plan
5. Implement
6. Monitor


Step 1: Establish Relationship ......ANSWER......• Services that will be
provided
• compensation/billing
• Responsibilities of both client/planner
• Time frame of relationship


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


Step 3: Analyze data ......ANSWER......• Identify strengths and
weaknesses

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• Analysis of current position
• Should be based on realistic assumptions


Step 4: Develop Plan ......ANSWER......• Objective
• Should be presented to client
• Mutually decide on revisions
• Prioritized list of implementation steps and timing


Step 5: Implement ......ANSWER......• Work closely with other
professional team members
• Help client with product acquisitions


Step 6: Monitor ......ANSWER......• Fed tax changes
• Economic changes
• Modifications to plan


Topic 2: Code of Ethics & Professional Responsibility + Disciplinary Rules
Procedures ......ANSWER.........


Aspirational Principles ......ANSWER......• Integrity
• Objectivity
• Competence
• Fairness

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