FPQP® Study Assessment Guide Exam Questions with All
Questions Accurately Answered Updated 2025/2026
A planner who addresses only the purchase of a first home for a client is practicing -
correct answer targeted financial planning
Kiara has accumulated $10,000 in a savings account over the last few years and has
earmarked that money as a down payment on a luxury boat. Her central air conditioner
breaks and requires $5,000 in repairs. Kiara is reluctant to spend the money in her
savings account to make the repairs because she wants to use that money for the boat
down payment. Instead, she puts the $5,000 repair charge on her credit card at an
annual interest rate of 23%. This is an example of which of these behaviors? - correct
answer Mental Accounting
Which of the following is a characteristic of properly stated financial goals? - correct
answer Definite
When helping clients identify goals, financial planners should practice active listening
skills by engaging in all of these except - correct answer offering suggestions for goals
Which of the following financial goals is written correctly? - correct answer To
accumulate $40,000 in seven years for a down payment on a house
Asset categories that are appropriate for the client are determined during which of the
following steps of the financial planning process? - correct answer Developing the
financial planning recommendations
During which of the following steps of the financial planning process is the performance
of a client's investments reviewed periodically? - correct answer Monitoring progress
and updating
Which of these would NOT be considered quantitative data? - correct answer
Employment expectations
, Which of the following is something a financial planner would want to know when
creating a financial plan?
I. Insurance needs
II. Retirement income objectives
III. Acceptable investment strategies
IV. Liquid assets available for emergencies - correct answer I, II, III, IV
Which of these is the best description of a fiduciary? - correct answer A fiduciary
always puts the best interests of the client first.
It is generally recommended by planners that an emergency fund be established. Which
of the following guidelines is recommended? - correct answer Three to six months of
living expenses in liquid investments
Which of these statements regarding financial planning is CORRECT? - correct
answer Data gathering for a financial planning engagement includes both quantitative
and qualitative data.
Which of these is a well-written goal? - correct answer To accumulate $500,000, by
starting to save today, for retirement in 20 years
Which of the following is NOT a requirement of a properly stated goal? - correct
answer Justification
All of these are Standards of Professional Conduct in the FPQP® Code of Ethics except
- correct answer Experience
Which one of these is NOT a requirement to become a Financial Paraplanner Qualified
Professional designee? - correct answer bachelor's degree
The FPQP® Code of Ethics requires compliance with all of these components except -
correct answer observance of state statutes
Questions Accurately Answered Updated 2025/2026
A planner who addresses only the purchase of a first home for a client is practicing -
correct answer targeted financial planning
Kiara has accumulated $10,000 in a savings account over the last few years and has
earmarked that money as a down payment on a luxury boat. Her central air conditioner
breaks and requires $5,000 in repairs. Kiara is reluctant to spend the money in her
savings account to make the repairs because she wants to use that money for the boat
down payment. Instead, she puts the $5,000 repair charge on her credit card at an
annual interest rate of 23%. This is an example of which of these behaviors? - correct
answer Mental Accounting
Which of the following is a characteristic of properly stated financial goals? - correct
answer Definite
When helping clients identify goals, financial planners should practice active listening
skills by engaging in all of these except - correct answer offering suggestions for goals
Which of the following financial goals is written correctly? - correct answer To
accumulate $40,000 in seven years for a down payment on a house
Asset categories that are appropriate for the client are determined during which of the
following steps of the financial planning process? - correct answer Developing the
financial planning recommendations
During which of the following steps of the financial planning process is the performance
of a client's investments reviewed periodically? - correct answer Monitoring progress
and updating
Which of these would NOT be considered quantitative data? - correct answer
Employment expectations
, Which of the following is something a financial planner would want to know when
creating a financial plan?
I. Insurance needs
II. Retirement income objectives
III. Acceptable investment strategies
IV. Liquid assets available for emergencies - correct answer I, II, III, IV
Which of these is the best description of a fiduciary? - correct answer A fiduciary
always puts the best interests of the client first.
It is generally recommended by planners that an emergency fund be established. Which
of the following guidelines is recommended? - correct answer Three to six months of
living expenses in liquid investments
Which of these statements regarding financial planning is CORRECT? - correct
answer Data gathering for a financial planning engagement includes both quantitative
and qualitative data.
Which of these is a well-written goal? - correct answer To accumulate $500,000, by
starting to save today, for retirement in 20 years
Which of the following is NOT a requirement of a properly stated goal? - correct
answer Justification
All of these are Standards of Professional Conduct in the FPQP® Code of Ethics except
- correct answer Experience
Which one of these is NOT a requirement to become a Financial Paraplanner Qualified
Professional designee? - correct answer bachelor's degree
The FPQP® Code of Ethics requires compliance with all of these components except -
correct answer observance of state statutes
