Reference no: EM132929540

Problem 1: The concept of "setting" in a financial planning practice encompasses the dimensions of

a. Office environment

b. Scope of services agreed between the client and the planner.

c. Nature of the decisions and issues

d. The scope of financial planning done prior to meeting with the financial planner.

Problem 2: There are six steps to the financial planning process and the CFP Board has related practice standards

a. For 8 steps

b. For 4 steps

c. For all 6 steps

d. None of the above.

Problem 3: When gathering data, financial planners rely on

a. Qualitative and Quantitative data

b. Bank statements, 401K statements and 3 years of tax returns

c. Meyers Briggs and Money Scripts

d. Data and Intuition

Problem 4: A systematic financial planning process

a. Supports the automation of financial planning, thus increasing the income potential of the planner.

b. Helps established financial planners reduce their errors and omissions insurance premiums.

c. Helps students and new planners develop effective data collection methods and apply the data.

d. Doesn't work when each and every plan is a customized product for the individual client.