Professional Conduct and Fiduciary
Responsibility Exam Questions + Verified
Answers 100% correct, Update 2026
What does the Code of Ethics and Stands of Professional Conduct
define? -
correct answer ✅They define the expected level of professional
conduct and practice for CFP certificates
What is the purpose of the Preamble? -
correct answer ✅It describes the value of upholding the
inspirational standards and incorporating them into everyday
financial planning
Who handles Code and Standard violations and noncompliance? -
correct answer ✅The CFP Board's Disciplinary and Ethics
Commission
What are the six principles in the Code of Ethics? -
correct answer ✅1) Act with honesty, integrity, competence, and
diligence
2) Act in the client's best interest
3) Exercise due care
4) Avoid or disclose and manage conflicts of interest
, Professional Conduct and Fiduciary
Responsibility Exam Questions + Verified
Answers 100% correct, Update 2026
5) Maintain the confidentiality and protect the privacy of client
information
6) Act in a manner that reflects positively on the financial planning
profession and CFP certification
What are the six sections of The Standards of Conduct? -
correct answer ✅1) Duties Owed to Clients
2) Financial Planning and Application of the Practice Standards for
the Financial Planning Process
3) Practice Standards for the Financial Planning Process
4) Duties Owed to Firms and Subordinates
5) Duties Owed to the CFP Board
6) Prohibition on Circumvention
What are the 15 duties that financial planners owe to clients? -
correct answer ✅1) Fiduciary Duty
2) Integrity
3) Competence
4) Diligence
5) Disclose and Manage Conflicts of Interest
Responsibility Exam Questions + Verified
Answers 100% correct, Update 2026
What does the Code of Ethics and Stands of Professional Conduct
define? -
correct answer ✅They define the expected level of professional
conduct and practice for CFP certificates
What is the purpose of the Preamble? -
correct answer ✅It describes the value of upholding the
inspirational standards and incorporating them into everyday
financial planning
Who handles Code and Standard violations and noncompliance? -
correct answer ✅The CFP Board's Disciplinary and Ethics
Commission
What are the six principles in the Code of Ethics? -
correct answer ✅1) Act with honesty, integrity, competence, and
diligence
2) Act in the client's best interest
3) Exercise due care
4) Avoid or disclose and manage conflicts of interest
, Professional Conduct and Fiduciary
Responsibility Exam Questions + Verified
Answers 100% correct, Update 2026
5) Maintain the confidentiality and protect the privacy of client
information
6) Act in a manner that reflects positively on the financial planning
profession and CFP certification
What are the six sections of The Standards of Conduct? -
correct answer ✅1) Duties Owed to Clients
2) Financial Planning and Application of the Practice Standards for
the Financial Planning Process
3) Practice Standards for the Financial Planning Process
4) Duties Owed to Firms and Subordinates
5) Duties Owed to the CFP Board
6) Prohibition on Circumvention
What are the 15 duties that financial planners owe to clients? -
correct answer ✅1) Fiduciary Duty
2) Integrity
3) Competence
4) Diligence
5) Disclose and Manage Conflicts of Interest
