Module 1: Personal
Financial Planning
Questions and Answers
Updated 2026
TheBFinancialBPlanningBProcessB-
BAnswerUmbrellasBInBABDownpourBPreventBImmenseBMess
1.BUnderstand
2.BIdentify
3.BAnalyze
4.BDevelopB
5.BPresent
6.BImplement
7.BMonitor
PracticeBStandardsBforBtheBFinancialBPlanningBProcessB-
BAnswerSectionBofBtheBCodeBandBStandardsBinBwhichBtheBfinancialBplanningBprocessBis
BdividedBintoBsevenBdistinctBsteps
AssetBaccumulationBphaseB-
BAnswerABclientBisBinBthisBphaseBuntilBaroundBageB45BandBtheBbeginningBofBthisBphas
eBisBcharacterizedBby:
-LimitedBexcessBfundsBforBinvesting
-HighBdegreeBofBdebtBtoBnetBworth
-LowBnetBworth