MODULE 1 - PRINCIPLES OF FINANCIAL PLANNING QUESTIONS WITH VERIFIED ANSWERS { GRADED A+}

MODULE 1 - PRINCIPLES OF FINANCIAL

PLANNING QUESTIONS WITH VERIFIED

ANSWERS { GRADED A+}




What is Diligence - ✔✔Keep client information confidential, disclosing only

when authorized or compelled by law.


What is the intent of personal financial planning? - ✔✔To help provide a clear

focus on clients' financial goals and use a variety of strategies to achieve them.


What are the 7 steps of the personal financial planning process?


- ✔✔1. understanding the client's personal and financial circumstances


2. identifying and selecting goals


3. analyzing the client's current course of action and potential alternate course(s) of

action


4. developing the financial planning recommendation(s)

, 5. presenting the financial planning recommendation(s)


6. implementing the financial planning recommendation(s)


7. monitoring progress and updating


Is personal financial planning personal and individual? - ✔✔Yes.


What does the Certified Financial Planner Board of Standards define "financial

planning" as? - ✔✔A collaborative process that helps maximize a client's

potential for meeting life goals through Financial Advice that integrates relevant

elements of the Client's personal and financial circumstances.


What are some of the different areas of financial planning? - ✔✔-developing

goals


-cash and debt management


-risk management and insurance planning


-education needs


-group benefits planning


-retirement savings and income planning


-tax planning