CEFP Exam Questions with Correct Answers 2026 | Complete Certification Study Guide & Practice Test Solutions

CEFPEXAM QUESTIONSWITH CORRECT b b b b




ANSWERS 2026/2027 b b




Topic 1: Financial Planning Process - ...
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6 step process: EGADIM - 1. Establish Relationship
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2. Gather Information b




3. Analyze data b




4. Develop plan b




5. Implement

6. Monitor



Step 1: Establish Relationship - • Services that will be provided
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• compensation/billing

• Responsibilities of both client/planner b b b




• Time frame of relationship
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Step 2: Gather quantitative and qualitative data - • It is important that goals be defined before any
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recommendations
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• A goal should be specific, prioritized and quantified
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• Fact finder form b b




Step 3: Analyze data - • Identify strengths and weaknesses
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• Analysis of current position b b b




• Should be based on realistic assumptions
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, Step 4: Develop Plan - • Objective
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• Should be presented to client
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• Mutually decide on revisions b b b




• Prioritized list of implementation steps and timing
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Step 5: Implement - • Work closely with other professional team members
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• Help client with product acquisitions
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Step 6: Monitor - • Fed tax changes
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• Economic changes b




• Modifications to plan b b




Topic 2: Code of Ethics &Professional Responsibility + Disciplinary Rules Procedures - ...
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Aspirational Principles - • Integrity b b b b




• Objectivity

• Competence

• Fairness

• Confidentiality

• Professionalism

• Diligence



Confidential Information can be disclosed only when... - • The client consents
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• Court ordered b




• CFP must defend accusations
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• Civil suit between client and CFP
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