CFP Board Fitness Standards and Procedural Rules Exam
with all Correct & 100% Verified Answers |Guaranteed To
Pass
Fitness Standards ✔Correct Answer-character and fitness standards for individuals seeking to
obtain CFP(r) certification
became effective on 01/01/2007 and were updated in 2012.
Following conduct is unacceptable and will ALWAYS BAR an individual from being certified
✔Correct Answer-Felony conviction for theft, embezzlement, or other financially-based crimes
Felony conviction for tax fraud or other tax-related crimes
Revocation of a financial professional license unless the revocation is administrative in nature
Felony conviction for any degree of murder or rape
Felony conviction for any other violent crime within the past 5 years
Following conduct are presumed to be unacceptable and thus bar certification unless the
Disciplinary and Ethics Commission (DEC) reconsiders and makes a different determination after
a review ✔Correct Answer-Two or more personal or business bankruptcies
revocation or suspension of a non-financial professional license, unless the revocation is
administrative in nature
suspension of a financial professional license unless the suspension is administrative in nature
felony conviction for non-violent crimes within the last 5 years
felony conviction for violent crimes other than murder or rate that occurred more than five
years ago
Following the DEC's review of the petition (from the presumptive bar list), the DEC may do the
following: ✔Correct Answer-Grant the petition
Deny the petition
, Deny the petition but allow the individual to re-apply for CFP(r) certification after a period not
to exceed five years. The individual shall be required to satisfy the education, examination,
experience and ethics requirements of CFP(r) certification at the time of re-application.
Committee that reviews appeal on DEC's decision regarding a petition ✔Correct Answer-the
Appeals Committee of the Board of Directors of the CFP Board of Directors may grant appeal
CFP Board Procedural Rules ✔Correct Answer-outline processes and policies pertaining to
disciplinary and appeals rules or outlines investigation commencement and procedures that the
CFP Board Counsel follows
These combined processes enable the CFP Board to provide enforcement in circumstances
involving a CFP(r) professional's wrongdoings.
Respondent ✔Correct Answer-any person who has agreed to the CFP Board's terms and
conditions of certification and trademark license or CFP(r) Certification Candidate Agreement
entitled to appear in person or telephonically, be represented by counsel at the hearing, cross-
examine witnesses, and present evidence on their own behalf
CFP Board Counsel ✔Correct Answer-authority to investigate and issue a complaint against a
Respondent for alleged violations of (a) the Code of Ethics and Standards of Conduct, or (b) the
CFP(r) certification candidate agreement
Hearing Panel ✔Correct Answer-at least one member of the hearing panel is a member of the
DEC, and at least 2 members must be CFP(r) professionals.
When a formal complaint is filed, a hearing takes place before this panel of a minimum three
individuals
Disciplinary and Ethics Counsel (DEC) ✔Correct Answer-composed primarily of CFP(r)
professionals, has the authority to enter a final order that finds facts, determines whether a
violation has occurred and, where appropriate, imposes discipline.
Hearing panel submits findings for review to this counsel for review consideration
Appeals Committee ✔Correct Answer-composed primarily of CFP(r) professionals and has the
authority to issue CFP Board's final decision. This committee is involved if Respondent decides
to appeal the DEC's decision
Composed of up to 4 members of the Board of Directors, at least 2 of whom are first-year
members of the Board
members of this committee cannot be members of the DEC
with all Correct & 100% Verified Answers |Guaranteed To
Pass
Fitness Standards ✔Correct Answer-character and fitness standards for individuals seeking to
obtain CFP(r) certification
became effective on 01/01/2007 and were updated in 2012.
Following conduct is unacceptable and will ALWAYS BAR an individual from being certified
✔Correct Answer-Felony conviction for theft, embezzlement, or other financially-based crimes
Felony conviction for tax fraud or other tax-related crimes
Revocation of a financial professional license unless the revocation is administrative in nature
Felony conviction for any degree of murder or rape
Felony conviction for any other violent crime within the past 5 years
Following conduct are presumed to be unacceptable and thus bar certification unless the
Disciplinary and Ethics Commission (DEC) reconsiders and makes a different determination after
a review ✔Correct Answer-Two or more personal or business bankruptcies
revocation or suspension of a non-financial professional license, unless the revocation is
administrative in nature
suspension of a financial professional license unless the suspension is administrative in nature
felony conviction for non-violent crimes within the last 5 years
felony conviction for violent crimes other than murder or rate that occurred more than five
years ago
Following the DEC's review of the petition (from the presumptive bar list), the DEC may do the
following: ✔Correct Answer-Grant the petition
Deny the petition
, Deny the petition but allow the individual to re-apply for CFP(r) certification after a period not
to exceed five years. The individual shall be required to satisfy the education, examination,
experience and ethics requirements of CFP(r) certification at the time of re-application.
Committee that reviews appeal on DEC's decision regarding a petition ✔Correct Answer-the
Appeals Committee of the Board of Directors of the CFP Board of Directors may grant appeal
CFP Board Procedural Rules ✔Correct Answer-outline processes and policies pertaining to
disciplinary and appeals rules or outlines investigation commencement and procedures that the
CFP Board Counsel follows
These combined processes enable the CFP Board to provide enforcement in circumstances
involving a CFP(r) professional's wrongdoings.
Respondent ✔Correct Answer-any person who has agreed to the CFP Board's terms and
conditions of certification and trademark license or CFP(r) Certification Candidate Agreement
entitled to appear in person or telephonically, be represented by counsel at the hearing, cross-
examine witnesses, and present evidence on their own behalf
CFP Board Counsel ✔Correct Answer-authority to investigate and issue a complaint against a
Respondent for alleged violations of (a) the Code of Ethics and Standards of Conduct, or (b) the
CFP(r) certification candidate agreement
Hearing Panel ✔Correct Answer-at least one member of the hearing panel is a member of the
DEC, and at least 2 members must be CFP(r) professionals.
When a formal complaint is filed, a hearing takes place before this panel of a minimum three
individuals
Disciplinary and Ethics Counsel (DEC) ✔Correct Answer-composed primarily of CFP(r)
professionals, has the authority to enter a final order that finds facts, determines whether a
violation has occurred and, where appropriate, imposes discipline.
Hearing panel submits findings for review to this counsel for review consideration
Appeals Committee ✔Correct Answer-composed primarily of CFP(r) professionals and has the
authority to issue CFP Board's final decision. This committee is involved if Respondent decides
to appeal the DEC's decision
Composed of up to 4 members of the Board of Directors, at least 2 of whom are first-year
members of the Board
members of this committee cannot be members of the DEC
