CFP - LEVEL 1 EXAM WITH ACCURATE
SOLUTIONS
Regarding wbuying wsecurities won wmargin, wwhich wself-regulatory worganizations
w(SROs) wrequire wyou wto wdeposit wa wminimum wof w$2000 wor w100 wpercent wof wthe
wpurchase wprice, wwhichever wis wless? w- wcorrect wanswers w-Financial wIndustry
wRegulatory wAuthority w(FINRA)
Principle w4—Fairness wdoes wnot winclude w- wcorrect wanswers w-Treating wall wclients
wthe wsame.
Under wCFP wBoard wfiduciary wrules, wa wCFP wprofessional wwho wis wproviding
wfinancial wplanning wadvice wmust wfollow wclient winstructions. wThere ware wtimes,
whowever, wwhen wa wCFP wprofessional wis wallowed wto wdisregard wa wclient's
wdirections. wIn wwhich wof wthe wfollowing wsituations wmay wa wCFP wprofessional
wignore wa wclient's wdirections?
When wthe wclient's wdirections ware wcomplex.
When wthe wclient's wdirections ware wunlawful.
When wthe wfinancial wplanner wstrongly wdisagrees wwith wthe wclient's wdirections. w-
wcorrect wanswers w-(2) wOnly
SOLUTIONS
Regarding wbuying wsecurities won wmargin, wwhich wself-regulatory worganizations
w(SROs) wrequire wyou wto wdeposit wa wminimum wof w$2000 wor w100 wpercent wof wthe
wpurchase wprice, wwhichever wis wless? w- wcorrect wanswers w-Financial wIndustry
wRegulatory wAuthority w(FINRA)
Principle w4—Fairness wdoes wnot winclude w- wcorrect wanswers w-Treating wall wclients
wthe wsame.
Under wCFP wBoard wfiduciary wrules, wa wCFP wprofessional wwho wis wproviding
wfinancial wplanning wadvice wmust wfollow wclient winstructions. wThere ware wtimes,
whowever, wwhen wa wCFP wprofessional wis wallowed wto wdisregard wa wclient's
wdirections. wIn wwhich wof wthe wfollowing wsituations wmay wa wCFP wprofessional
wignore wa wclient's wdirections?
When wthe wclient's wdirections ware wcomplex.
When wthe wclient's wdirections ware wunlawful.
When wthe wfinancial wplanner wstrongly wdisagrees wwith wthe wclient's wdirections. w-
wcorrect wanswers w-(2) wOnly
