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FP1 CHAPTER 1 EXAM QUESTIONS AND ANSWERS
GRADED A+ 2025
1. What is the role of the advisor?: It is to take the client-driven approach, and
building-relationship approach.
Focus on the goal, identify barriers, provide product and service to meet the client
needs.
2. What is Providing financial advice?: It is the method you use to assess client's
situation. Define their goals , prioritize them and develop strategies to meet them.
3. What is the "FULL SERVICE OFFER"?: It is the level of service that takes in
consideration the client's needs, as you develop integrated strategies to achieve
their goals.
4. What is the 5 step process to provide Full Service Advice?: 1) Assess the
client's financial situation
2) Define and prioritize their goals
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,mailto:https://www.stuvia.com/en-us/user/techgrades
3) Adjust the strategy based on their financial capacity
4) Identify product and service options
5) Conduct a periodic review
5. What is the 6 step Financial planning process ?: 1) Establish a client/advisor
relationship
2) Collect data and information
3) Analyze data and information
4) Recommend Strategies to meet goals
5) Implement recommendation
6) Conduct a periodic review
6. In the first step of the client/advisor relationship,
What are your responsibilities towards the client ?: 1) Integrity
2) Professionalism
3) Confidentiality
4) Objectivity
5)Diligence
7. In the collection of data and information, what are the two things you will
mailto:https://www.stuvia.com/en-us/user/techgrades 2/ 5
FP1 CHAPTER 1 EXAM QUESTIONS AND ANSWERS
GRADED A+ 2025
1. What is the role of the advisor?: It is to take the client-driven approach, and
building-relationship approach.
Focus on the goal, identify barriers, provide product and service to meet the client
needs.
2. What is Providing financial advice?: It is the method you use to assess client's
situation. Define their goals , prioritize them and develop strategies to meet them.
3. What is the "FULL SERVICE OFFER"?: It is the level of service that takes in
consideration the client's needs, as you develop integrated strategies to achieve
their goals.
4. What is the 5 step process to provide Full Service Advice?: 1) Assess the
client's financial situation
2) Define and prioritize their goals
mailto:https://www.stuvia.com/en-us/user/techgrades 1/ 5
,mailto:https://www.stuvia.com/en-us/user/techgrades
3) Adjust the strategy based on their financial capacity
4) Identify product and service options
5) Conduct a periodic review
5. What is the 6 step Financial planning process ?: 1) Establish a client/advisor
relationship
2) Collect data and information
3) Analyze data and information
4) Recommend Strategies to meet goals
5) Implement recommendation
6) Conduct a periodic review
6. In the first step of the client/advisor relationship,
What are your responsibilities towards the client ?: 1) Integrity
2) Professionalism
3) Confidentiality
4) Objectivity
5)Diligence
7. In the collection of data and information, what are the two things you will
mailto:https://www.stuvia.com/en-us/user/techgrades 2/ 5
