BUS 352 QUIZ 7

BUSI 352 MULTIPLE-CHOICE PROBLEMS Quiz 7 A sample of multiple choice problems is provided below. Additional multiple choice problems are available at by accessing the Student Practice Portal. The CFP Board is a certification and standard-setting organization that: a. Establishes and enforces education requirements for CFP certificants. b.Establishes and enforces examination requirements for CFP certificants. c.Establishes and enforces ethics requirements for CFP certificants. d.All of the above. Which of the following is not a principle in the Code of Ethics? a.Frugality. b. Integrity. c. Competence. d. Fairness. Which of the following are true with respect to the Practice Standards? 1. Each Practice Standard is a statement regarding one of the steps in the financial planning process or investments planning process. 2. Includes monitoring responsibilities after a financial plan is implemented. 3. The scope of the engagement does not have to be in writing. a.3 only. b. 1 and 3. c. 1, 2, and 3. d. None of the above. John is a client and seems to be suffering from dementia and wants to remove his children from his will and give all of his wealth to Marie, a neighbor who periodically visits John and delivers him groceries. What should the CFP® professional do? a.He should contact John’s children to let them know. b. He should do what John asks. c. He should contact the doctor to confirm if he is suffering from dementia or not. d. He should contact John’s lawyer. What is the client’s responsibility during the financial planning process? a.To interpret all the information that is gathered. b. To provide the professional with all requested information. c. To pay their fees. d. To implement the financial plan. Which of the following is not specifically addressed in the CFP Board's Standards of Professional Conduct? A) Conflicts of interest. B) Care of a Fiduciary. C) Implementing and monitoring a financial plan designed for a client. D) Comparing rates of return for exchange traded funds. Under the CFP Board's Rules of Conduct, which of the following are a category of rules within the CFP Board's Rules of Conduct? A) Obligations to prospective clients and clients. B) Obligations to employers. C) Obligations to the profession. D) All of the above. E) None of the above.