8/28/25, 5:16 AM FPQP EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
FPQP EXAM Questions and Answers (Verified
Answers) (Latest Update 2025) UPDATE!!
Save
Practice questions for this set
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Terms in this set (47)
covers almost all aspects of a personal's financial
Comprehensive Financial
situation (including risk mamagenet, investment
Plan
planning, tax, retirement, and estate planning)
focus on a segment of individual's objectives. (ex - first
Targeted Financial Plan
home, elderly care, reducing tax burden)
Goals should be... defined or definite
Steps to setting financial 1. Purpose, 2. Timeframe, 3. Amount
goal ("PTA")
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, 8/28/25, 5:16 AM FPQP EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
Personal financial planning Continuous
is continuous or
noncontinuous?
1. Understanding client's personal and financial
circumstances.
2. Identifying and selecting goals.
3. Analyzing the client's current course of action and
potential alternatre course(s).
7 Steps of Financial
4. Devleoping the financial planning
Planning Process:
recommendations.
5. Presenting the financial planning recommendations.
6. Implementing the financial planning
recommendations.
7. Monitoring process and updating.
1. Quantitative - "names and numbers"
family profile, assets and liability, cash
inflows/outflaws, insurance policy info,
Two types of information: employee/pension plan, tax returns, retirement
benefits
(Step 1 - Understanding
client's personal and 2. Qualititative - "lifestyle info"
financial circumstances) goals/objectives, health status, interests/hobbies, risk-
tolerance level, changes in lifestyle, estate planning
issues, money values, family relationships, planning
assumptions
SWOT = Strenghs, Weaknesses, Opportunities, Threats
"SWOT" Approach
Existing conditions are reviewed to identify strengths
and weakenesses in client's total current financial
(Step 3 - analyze and
situation. Identifying existing or potential problems
evaluate)
that could impact the client's ability to achieve
objectives.
Emergency fund should 3-6 months expenses in emergency fund.
be how much?
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FPQP EXAM Questions and Answers (Verified
Answers) (Latest Update 2025) UPDATE!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (47)
covers almost all aspects of a personal's financial
Comprehensive Financial
situation (including risk mamagenet, investment
Plan
planning, tax, retirement, and estate planning)
focus on a segment of individual's objectives. (ex - first
Targeted Financial Plan
home, elderly care, reducing tax burden)
Goals should be... defined or definite
Steps to setting financial 1. Purpose, 2. Timeframe, 3. Amount
goal ("PTA")
https://quizlet.com/1069177197/fpqp-exam-questions-and-answers-verified-answers-latest-update-2025-update-flash-cards/ 1/8
, 8/28/25, 5:16 AM FPQP EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
Personal financial planning Continuous
is continuous or
noncontinuous?
1. Understanding client's personal and financial
circumstances.
2. Identifying and selecting goals.
3. Analyzing the client's current course of action and
potential alternatre course(s).
7 Steps of Financial
4. Devleoping the financial planning
Planning Process:
recommendations.
5. Presenting the financial planning recommendations.
6. Implementing the financial planning
recommendations.
7. Monitoring process and updating.
1. Quantitative - "names and numbers"
family profile, assets and liability, cash
inflows/outflaws, insurance policy info,
Two types of information: employee/pension plan, tax returns, retirement
benefits
(Step 1 - Understanding
client's personal and 2. Qualititative - "lifestyle info"
financial circumstances) goals/objectives, health status, interests/hobbies, risk-
tolerance level, changes in lifestyle, estate planning
issues, money values, family relationships, planning
assumptions
SWOT = Strenghs, Weaknesses, Opportunities, Threats
"SWOT" Approach
Existing conditions are reviewed to identify strengths
and weakenesses in client's total current financial
(Step 3 - analyze and
situation. Identifying existing or potential problems
evaluate)
that could impact the client's ability to achieve
objectives.
Emergency fund should 3-6 months expenses in emergency fund.
be how much?
https://quizlet.com/1069177197/fpqp-exam-questions-and-answers-verified-answers-latest-update-2025-update-flash-cards/ 2/8
