CFP Code of Ethics and Standards

Code of Ethics CORRECT ANSWER Identifies ethical principles that guide the behavior of CFP®professionals and sets forth six directives that CFP® professionals must adhere to. Standards of Conduct CORRECT ANSWER set forth the duties that a CFP® professional owes to Clients, firms and subordinates, and CFP Board. Practice Standards for the financial planning process CORRECT ANSWER describe the best practices and duties expected of CFP® professionals engaged in financial planning as outlined by a seven step process. Procedural Rules CORRECT ANSWER enforces the Code of Ethics, Standards of Conduct and Practice Standards and establishes a process for applying the Code and Standards to actual professional activities. Describes the procedures followed by CFP Board in enforcing the Code and Standards. CFP Board enforces its standards through a transparent, peer-review process, set forth in the Procedural Rules, The Procedural Rules provide a fair process pursuant to which CFP® professionals are given notice of potential violations and an opportunity to be heard by a panel of other professionals. The parties to a proceeding have the right to be represented by counsel of their choice. Code of Ethics: A CFP® professional must: CORRECT ANSWER 1. Act with honesty, integrity, competence, and diligence 2. Act in the client's best interests.