CEFP EXAM QUESTIONS WITH CORRECT ANSWERS

CEFP EXAM QUESTIONS WITH CORRECT
ANSWERS 2026/2027
Topic 1: Financial Planning Process - ...



6 step process: EGADIM - 1. Establish Relationship

2. Gather Information

3. Analyze data

4. Develop plan

5. Implement

6. Monitor



Step 1: Establish Relationship - • Services that will be provided

• compensation/billing

• Responsibilities of both client/planner

• Time frame of relationship



Step 2: Gather quantitative and qualitative data - • It is important that goals be defined before
any recommendations

• A goal should be specific, prioritized and quantified

• Fact finder form



Step 3: Analyze data - • Identify strengths and weaknesses

• Analysis of current position

• Should be based on realistic assumptions

, Step 4: Develop Plan - • Objective

• Should be presented to client

• Mutually decide on revisions

• Prioritized list of implementation steps and timing



Step 5: Implement - • Work closely with other professional team members

• Help client with product acquisitions



Step 6: Monitor - • Fed tax changes

• Economic changes

• Modifications to plan



Topic 2: Code of Ethics & Professional Responsibility + Disciplinary Rules Procedures - ...



Aspirational Principles - • Integrity

• Objectivity

• Competence

• Fairness

• Confidentiality

• Professionalism

• Diligence



Confidential Information can be disclosed only when... - • The client consents

• Court ordered

• CFP must defend accusations

• Civil suit between client and CFP