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
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