PLANNING PRINCIPLES,
PROFESSIONAL CONDUCT, AND
REGULATION WITH VERIFIED
QUESTIONS AND ANSWERS 2025/2026
Topic 1: Financial Planning Process - CORRECT ANSWERS -...
6 step process: EGADIM - CORRECT ANSWERS -1. Establish Relationship
2. Gather Information
3. Analyze data
4. Develop plan
5. Implement
6. Monitor
Step 1: Establish Relationship - CORRECT ANSWERS -• Services that will be provided
• compensation/billing
• Responsibilities of both client/planner
• Time frame of relationship
Step 2: Gather quantitative and qualitative data - CORRECT ANSWERS -• 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 - CORRECT ANSWERS -• Identify strengths and weaknesses
• Analysis of current position
• Should be based on realistic assumptions
Step 4: Develop Plan - CORRECT ANSWERS -• Objective
• Should be presented to client
• Mutually decide on revisions
• Prioritized list of implementation steps and timing
Step 5: Implement - CORRECT ANSWERS -• Work closely with other professional team members
• Help client with product acquisitions
Step 6: Monitor - CORRECT ANSWERS -• Fed tax changes
• Economic changes
• Modifications to plan
Topic 2: Code of Ethics & Professional Responsibility + Disciplinary Rules Procedures - CORRECT
ANSWERS -...
Aspirational Principles - CORRECT ANSWERS -• Integrity
• Objectivity
• Competence
• Fairness
• Confidentiality
• Professionalism
• Diligence