CFP Certified Financial Planner Study guides, Class notes & Summaries

CFP Practice Questions & Answers Verified 100% Correct!!

CFP Exam Questions & Answers Solved 100% Correct!!

CFP Mock Exam 2024 (Updated) Questions With Complete Answers Graded A+

CFP Mock Exam 2024 (Updated) Questions With Complete Answers Graded A+

Certified Public Accountant (CPA) - ANSWER-an individual who has been state certified to provide accounting services ranging from the preparation of financial records and the filing of tax returns to complex audits of corporate financial records brokerage house - ANSWER-A firm that offers various investing services, such as securities trading, research analysis, and advice. broker - ANSWER-person who acts as a go-between for buyers and sellers Certified Financial Planner (CFP) - ANSWER-...

banker - Answer-Someone who, individually or as a member of a company, operates an establishment for the deposit or loan of money. budget - Answer-A detailed plan of income and expenses expected over a certain period of time. A budget can provide guidelines for managing future investments and expenses. financial plan - Answer-A comprehensive strategy designed to help individuals achieve specific financial goals and prepare for unexpected life challenges or events. Financial plans may inclu...

Harry and Alice, both age 55, plan to retire at age 60. They have three children: Pete, age 32, a computer technician living in Atlanta; Sidney, age 30, a doctor who resides in Indianapolis; and Mark, age 25, a web designer, who is married and lives in Chicago. They also have three grandchildren. Most likely, in what phase in the financial life cycle are Harry and Alice? A) Gifting phase B) Asset accumulation phase C) Conservation phase D) Distribution phase - ANSWER-C The answer is con...

Describe the financial planning process: responsibilities of financial planner, client, and other advisers. - ANSWER-All of the parties involved in the financial planning process have certain responsibilities. The financial planner must evaluate the needs of the client, explain complicated financial concepts, analyze the financial circumstances of the client, prepare financial plans, clarify client goals, and, finally, implement and monitor the financial plan. The client is responsible for makin...

Financial Planning. - ANSWER-The process of determining whether and how clients can meet their goals through proper management of financial resources. 8 Major Domains. - ANSWER-Establishing and defining the client-planner relationship. Gathering information necessary to fulfill the engagement. - ANSWER-Analyzing and evaluating the client's current financial status. Developing the recommendations. - ANSWER-Communicating the recommendations. Implementing the recommendations. - ANSWER-...

Personal Financial Planning - ANSWER-The process of formulating, implementing, and monitoring financial decisions into an integrated plan that guides an individual or a family to achieve their financial goals Financial Planning Process - ANSWER-1. Understand the clients personal and financial circumstances 2. Identifying and selecting goals 3. Analyses current course of action and potential alternatives 4. Develop plan recommendations 5. Present plan recommendations 6. Implement plan rec...