CFP PRACTICE QUESTIONS WITH
VERIFIED SOLUTIONS
Stafford rLoans rare radministered rby:
A) rPrivate rLoan rAdministration
B) rFederal rFamily rEducation rLoan rProgram
C) rParent rloans rto rundergraduate rstudents
D) rFederal rassistance rloan rprogram r- rcorrect ranswers r-B
Perkins rloans r- rcorrect ranswers r-Low-interest rfederal rstudent rloans rfor
rundergraduate rand rgraduate rstudents rdistributed ron rthe rbasis rfinancial rneed.
Are rParent rLoans rto rUndergraduate rStudents r(PLUS) ravailable rto rboth rfull rand rpart
rtime rstudents? r- rcorrect ranswers r-No, ronly ravailable rto rfull rtime rstudents
Perfect relasticity rresults rin ra r______ rdemand rcurve, rperfect rinelasticity rresults rin ra
r_____ rdemand rcurve
A) rvertical, rhorizontal
, B) rhorizontal, rvertical r
C) rDiagonal, rhorizontal
D) rVertical, rdiagonal r- rcorrect ranswers r-B, rHorizontal, rvertical
Money rin ra rcoverdell rsavings raccount rmust rbe rused rby rthe rtime rbeneficiary ris
r____years rof rage r- rcorrect ranswers r-30
A rChange rin rquantity rsupplied ris ridentified rbu rwhich rof rthe rfollowing?
A) rShifting rthe rdemand rcurve
B) rShifting rthe rsupply rCurve
C) rMovement ralong rthe rsupply rcurve
D) rMovement ralong rthe rdemand rcurve r- rcorrect ranswers r-C- rThis ris rthe rwillingness
rto roffer rthe rsame rproduct rat rdifferent rprices.
If ran rRIA rhas rbetwen r_____ rand r____ rof rassets runder rmanagement, rthe rIRA rmay
rregister rwith reither rthe rapplicable rstates rwhere rthe rRIA rmaintains rclients, ror rthe
rSEC
A) r10MM r& r100MM
B) r25MM rand r100MM
C) r50MM rand r150MM
D) r100MM rand r200MM r- rcorrect ranswers r-B
According rto rthe rprinciple rof r_______ ra rCFP rBoard rdesignee rshall renter rinto ra
rfinancial rplanning rengagement ronly rwhen rthe rrelationship ris rwarranted rbased ron
rthe rindividual rneeds rand robjectives r
A) rIntegrity
B) rFairness
C) rCompetence
D) rDiligence r- rcorrect ranswers r-D
Which rof rthe rfollowing rare ramong rthe reconomic rgoals rof rthe rFederal rReserve rand
rthe rUS rTreasury?
1) rFull rEmployment r
2) rStable rPrices
3) rEconomic rGrowth
4) rDecrease rGovernmental rSpending
A) r1 rand r4
B) r3 rand r4
C) r1, r2, rand r3
D) rAll rof rthe rAbove r- rcorrect ranswers r-C
Monetary rpolicy rrefers rto ractions rtaken rby rthe r______ rto rcontrol rthe rmoney rsupply,
roften rby rtargeting ra rspecific rrate rof rinterest r
A) rUS rTreasury
B) rFederal rReserve
VERIFIED SOLUTIONS
Stafford rLoans rare radministered rby:
A) rPrivate rLoan rAdministration
B) rFederal rFamily rEducation rLoan rProgram
C) rParent rloans rto rundergraduate rstudents
D) rFederal rassistance rloan rprogram r- rcorrect ranswers r-B
Perkins rloans r- rcorrect ranswers r-Low-interest rfederal rstudent rloans rfor
rundergraduate rand rgraduate rstudents rdistributed ron rthe rbasis rfinancial rneed.
Are rParent rLoans rto rUndergraduate rStudents r(PLUS) ravailable rto rboth rfull rand rpart
rtime rstudents? r- rcorrect ranswers r-No, ronly ravailable rto rfull rtime rstudents
Perfect relasticity rresults rin ra r______ rdemand rcurve, rperfect rinelasticity rresults rin ra
r_____ rdemand rcurve
A) rvertical, rhorizontal
, B) rhorizontal, rvertical r
C) rDiagonal, rhorizontal
D) rVertical, rdiagonal r- rcorrect ranswers r-B, rHorizontal, rvertical
Money rin ra rcoverdell rsavings raccount rmust rbe rused rby rthe rtime rbeneficiary ris
r____years rof rage r- rcorrect ranswers r-30
A rChange rin rquantity rsupplied ris ridentified rbu rwhich rof rthe rfollowing?
A) rShifting rthe rdemand rcurve
B) rShifting rthe rsupply rCurve
C) rMovement ralong rthe rsupply rcurve
D) rMovement ralong rthe rdemand rcurve r- rcorrect ranswers r-C- rThis ris rthe rwillingness
rto roffer rthe rsame rproduct rat rdifferent rprices.
If ran rRIA rhas rbetwen r_____ rand r____ rof rassets runder rmanagement, rthe rIRA rmay
rregister rwith reither rthe rapplicable rstates rwhere rthe rRIA rmaintains rclients, ror rthe
rSEC
A) r10MM r& r100MM
B) r25MM rand r100MM
C) r50MM rand r150MM
D) r100MM rand r200MM r- rcorrect ranswers r-B
According rto rthe rprinciple rof r_______ ra rCFP rBoard rdesignee rshall renter rinto ra
rfinancial rplanning rengagement ronly rwhen rthe rrelationship ris rwarranted rbased ron
rthe rindividual rneeds rand robjectives r
A) rIntegrity
B) rFairness
C) rCompetence
D) rDiligence r- rcorrect ranswers r-D
Which rof rthe rfollowing rare ramong rthe reconomic rgoals rof rthe rFederal rReserve rand
rthe rUS rTreasury?
1) rFull rEmployment r
2) rStable rPrices
3) rEconomic rGrowth
4) rDecrease rGovernmental rSpending
A) r1 rand r4
B) r3 rand r4
C) r1, r2, rand r3
D) rAll rof rthe rAbove r- rcorrect ranswers r-C
Monetary rpolicy rrefers rto ractions rtaken rby rthe r______ rto rcontrol rthe rmoney rsupply,
roften rby rtargeting ra rspecific rrate rof rinterest r
A) rUS rTreasury
B) rFederal rReserve
