CRPC | Fiduciary, Ethical, and
Regulatory Issues for Advisors Exam
Questions + Verified Answers 100%
correct, Update 2026
The provision that certain mutual fund policies cannot be changed
without shareholder approval is addressed in the: -
correct answer ✅Investment Company Act of 1940.
A major responsibility of FINRA is -
correct answer ✅Developing rules and regulations for its
members.
The recent regulatory and industry developments regarding
fiduciary advice will most likely: -
correct answer ✅increase client expectations of advisers and put
downward pressure on fees.
Which act repealed a prohibition that had been in place preventing
financial institutions from offering a combination of commercial
banking, investment banking, and insurance services? -
correct answer ✅Gramm-Leach-Bliley Act of 1999
The Employee Retirement Income Security Act (ERISA) was
primarily passed because of concern regarding the integrity and
, CRPC | Fiduciary, Ethical, and
Regulatory Issues for Advisors Exam
Questions + Verified Answers 100%
correct, Update 2026
safety of: -
correct answer ✅employer-sponsored retirement plans.
An investment professional who reads investment journals is
complying with the: -
correct answer ✅duty to keep current.
You sell your client a GNMA based on your explanation that they
are "safe" because they are guaranteed by the U.S. government. In
which one of the following ethical duties may you have failed your
customer? -
correct answer ✅Duty to disclose
Confidentiality is an important ethical obligation for all those who
render investment advice. The CFP Board, however, allows the
unauthorized disclosure of confidential client information in: -
correct answer ✅connection with a civil dispute between a CFP
certificant and a client.
A potential client, Ross, is contacted by Amy, an investment
professional with a fiduciary responsibility to her clients. Ross is
Regulatory Issues for Advisors Exam
Questions + Verified Answers 100%
correct, Update 2026
The provision that certain mutual fund policies cannot be changed
without shareholder approval is addressed in the: -
correct answer ✅Investment Company Act of 1940.
A major responsibility of FINRA is -
correct answer ✅Developing rules and regulations for its
members.
The recent regulatory and industry developments regarding
fiduciary advice will most likely: -
correct answer ✅increase client expectations of advisers and put
downward pressure on fees.
Which act repealed a prohibition that had been in place preventing
financial institutions from offering a combination of commercial
banking, investment banking, and insurance services? -
correct answer ✅Gramm-Leach-Bliley Act of 1999
The Employee Retirement Income Security Act (ERISA) was
primarily passed because of concern regarding the integrity and
, CRPC | Fiduciary, Ethical, and
Regulatory Issues for Advisors Exam
Questions + Verified Answers 100%
correct, Update 2026
safety of: -
correct answer ✅employer-sponsored retirement plans.
An investment professional who reads investment journals is
complying with the: -
correct answer ✅duty to keep current.
You sell your client a GNMA based on your explanation that they
are "safe" because they are guaranteed by the U.S. government. In
which one of the following ethical duties may you have failed your
customer? -
correct answer ✅Duty to disclose
Confidentiality is an important ethical obligation for all those who
render investment advice. The CFP Board, however, allows the
unauthorized disclosure of confidential client information in: -
correct answer ✅connection with a civil dispute between a CFP
certificant and a client.
A potential client, Ross, is contacted by Amy, an investment
professional with a fiduciary responsibility to her clients. Ross is
