CHFC LATEST EXAMINERS SET ALL QUESTIONS
AND ANSWERS SURE A+
✔✔ongoing relationship - ✔✔The continuing advisor-client relationship involving
periodic review and updates.
✔✔implementation - ✔✔Putting financial planning recommendations into action.
✔✔monitoring - ✔✔Reviewing and updating the financial plan as circumstances
change.
✔✔financial life cycle - ✔✔The stages individuals move through financially from early
career through retirement.
✔✔sandwich generation - ✔✔Individuals simultaneously supporting children and aging
parents.
✔✔guiding ethical principles - ✔✔Standards including integrity, objectivity, competence,
fairness, confidentiality, professionalism, and diligence.
✔✔resolving ethical problems - ✔✔A process involving gathering facts, evaluating
options, and applying ethical reasoning.
,✔✔flat-fee model - ✔✔Compensation based on a fixed fee rather than commissions.
✔✔hourly fee model - ✔✔Compensation based on time spent providing services.
✔✔insurance planning - ✔✔Evaluating risks and determining appropriate insurance
coverage.
✔✔investment planning - ✔✔Developing investment strategies aligned with goals and
risk tolerance.
✔✔tax planning - ✔✔Structuring financial affairs to minimize tax liability.
✔✔precision - ✔✔The need for accuracy and careful application of tax and planning
rules.
✔✔case study approach - ✔✔Using realistic financial scenarios to apply financial
planning concepts.
✔✔gathering client data - ✔✔Collecting financial and personal information necessary
for planning.
✔✔interviewing - ✔✔Structured communication used to gather client information.
✔✔directive interview - ✔✔A structured interview controlled primarily by the advisor.
✔✔nondirective interview - ✔✔A more flexible interview guided by the client's
responses.
✔✔counseling - ✔✔Helping clients understand issues and make informed decisions.
✔✔advising - ✔✔Providing recommendations and guidance to clients.
✔✔rapport - ✔✔A comfortable and trusting advisor-client relationship.
✔✔social style - ✔✔Behavioral patterns influencing how clients communicate and
interact.
✔✔resource allocation - ✔✔Determining how limited financial resources should be
used.
✔✔quantitative and qualitative goals - ✔✔Quantitative goals involve measurable
outcomes while qualitative goals involve emotional or lifestyle outcomes.
, ✔✔general and specific goals - ✔✔General goals are broad objectives while specific
goals are measurable and clearly defined.
✔✔consumer price index - ✔✔A measure of inflation based on changes in consumer
prices.
✔✔assumptions - ✔✔Estimated future values such as inflation, returns, and life
expectancy used in planning.
✔✔preliminary outline - ✔✔An initial planning structure used to identify possible
strategies.
✔✔master outline - ✔✔A refined planning outline designed for client recommendations.
✔✔end-of-life decisions - ✔✔Choices involving medical treatment, care, and final
wishes.
✔✔probate process - ✔✔The legal process of validating a will and distributing assets
after death.
✔✔dying intestate - ✔✔Dying without a valid will.
✔✔community property - ✔✔A property ownership system in which marital property is
jointly owned by spouses.
✔✔will ceremony - ✔✔The formal signing and execution process for a will.
✔✔income in respect of a decedent - ✔✔Income earned before death but taxable after
death.
✔✔estate liquidity - ✔✔Availability of cash to pay taxes, debts, and expenses at death.
✔✔completed transfer - ✔✔A transfer in which the donor relinquishes control over the
property.
✔✔Medicaid planning - ✔✔Planning strategies to preserve assets while qualifying for
Medicaid benefits.
✔✔probate avoidance - ✔✔Strategies used to transfer assets outside probate.
✔✔applicable exclusion amount - ✔✔The amount that may be transferred free of
federal estate and gift tax.
✔✔estate freeze - ✔✔A strategy designed to limit future estate growth for tax purposes.
AND ANSWERS SURE A+
✔✔ongoing relationship - ✔✔The continuing advisor-client relationship involving
periodic review and updates.
✔✔implementation - ✔✔Putting financial planning recommendations into action.
✔✔monitoring - ✔✔Reviewing and updating the financial plan as circumstances
change.
✔✔financial life cycle - ✔✔The stages individuals move through financially from early
career through retirement.
✔✔sandwich generation - ✔✔Individuals simultaneously supporting children and aging
parents.
✔✔guiding ethical principles - ✔✔Standards including integrity, objectivity, competence,
fairness, confidentiality, professionalism, and diligence.
✔✔resolving ethical problems - ✔✔A process involving gathering facts, evaluating
options, and applying ethical reasoning.
,✔✔flat-fee model - ✔✔Compensation based on a fixed fee rather than commissions.
✔✔hourly fee model - ✔✔Compensation based on time spent providing services.
✔✔insurance planning - ✔✔Evaluating risks and determining appropriate insurance
coverage.
✔✔investment planning - ✔✔Developing investment strategies aligned with goals and
risk tolerance.
✔✔tax planning - ✔✔Structuring financial affairs to minimize tax liability.
✔✔precision - ✔✔The need for accuracy and careful application of tax and planning
rules.
✔✔case study approach - ✔✔Using realistic financial scenarios to apply financial
planning concepts.
✔✔gathering client data - ✔✔Collecting financial and personal information necessary
for planning.
✔✔interviewing - ✔✔Structured communication used to gather client information.
✔✔directive interview - ✔✔A structured interview controlled primarily by the advisor.
✔✔nondirective interview - ✔✔A more flexible interview guided by the client's
responses.
✔✔counseling - ✔✔Helping clients understand issues and make informed decisions.
✔✔advising - ✔✔Providing recommendations and guidance to clients.
✔✔rapport - ✔✔A comfortable and trusting advisor-client relationship.
✔✔social style - ✔✔Behavioral patterns influencing how clients communicate and
interact.
✔✔resource allocation - ✔✔Determining how limited financial resources should be
used.
✔✔quantitative and qualitative goals - ✔✔Quantitative goals involve measurable
outcomes while qualitative goals involve emotional or lifestyle outcomes.
, ✔✔general and specific goals - ✔✔General goals are broad objectives while specific
goals are measurable and clearly defined.
✔✔consumer price index - ✔✔A measure of inflation based on changes in consumer
prices.
✔✔assumptions - ✔✔Estimated future values such as inflation, returns, and life
expectancy used in planning.
✔✔preliminary outline - ✔✔An initial planning structure used to identify possible
strategies.
✔✔master outline - ✔✔A refined planning outline designed for client recommendations.
✔✔end-of-life decisions - ✔✔Choices involving medical treatment, care, and final
wishes.
✔✔probate process - ✔✔The legal process of validating a will and distributing assets
after death.
✔✔dying intestate - ✔✔Dying without a valid will.
✔✔community property - ✔✔A property ownership system in which marital property is
jointly owned by spouses.
✔✔will ceremony - ✔✔The formal signing and execution process for a will.
✔✔income in respect of a decedent - ✔✔Income earned before death but taxable after
death.
✔✔estate liquidity - ✔✔Availability of cash to pay taxes, debts, and expenses at death.
✔✔completed transfer - ✔✔A transfer in which the donor relinquishes control over the
property.
✔✔Medicaid planning - ✔✔Planning strategies to preserve assets while qualifying for
Medicaid benefits.
✔✔probate avoidance - ✔✔Strategies used to transfer assets outside probate.
✔✔applicable exclusion amount - ✔✔The amount that may be transferred free of
federal estate and gift tax.
✔✔estate freeze - ✔✔A strategy designed to limit future estate growth for tax purposes.
