FINANCIAL PLANNING 1 INTRODUCTION TO FP ACTUAL

FINANCIAL PLANNING 1 / INTRODUCTION TO FP / (ACTUAL

QUESTIONS WITH CORRECT ANSWERS

The type of data you will gather is both _ _ _ _ data and _ _ _ _ _ data. - --aNSWERS----

The type of data you will gather to do this is both qualitative data and quantitative data.

FP1 / Module 2 / Introduction to FP

_ _ _ _ _ questions will help you to identify areas where goals and attitudes may conflict so you can help your clients to establish reasonable objectives and priorities. - --

Qualitative questions will also help you to identify areas where goals and attitudes may conflict so you can help your clients to establish reasonable objectives and priorities.

FP1 / Module 2 / Introduction to FP

Examples of _ _ _ _ _ data include:

Business finances, such as financial statements, shareholder agreements, stock option plans, profit sharing plans and employee benefit plans - -- Quantitative data 1 / 3

FP1 / Module 2 / Introduction to FP

You may define and prioritize your clients by doing the

following: - --aNSWERS----FP1 / Module 2 / Introduction to FP

You may define and prioritize your clients by doing the

following:

[1] Encourage your clients to talk about their goals [2] Ask questions and probe to identify which goals are most important [3] Develop timelines to achieve the goals

FP1 / Module 2 / Introduction to FP

List four characteristics of realistic & achievable financial goals? - --aNSWERS----FP1 / Module 2 / Introduction to FP

[1] Specific and measurable [2] Ordered in level of importance [3] Defined by time frame [4] Acceptable in level of risk

FP1 / Module 2 / Introduction to FP 2 / 3

Once your clients' financial objectives have been clearly identified and prioritized, the next step is to _ _ _ _ _ _ in order to construct a financial profile. The financial profile contains both qualitative and quantitative data. - --aNSWERS----FP1 / Module 2 / Introduction to FP

Once your clients' financial objectives have been clearly identified and prioritized, the next step is to assess their current financial situation in order to construct a financial profile. The financial profile contains both qualitative and quantitative data.

FP1 / Module 2 / Introduction to FP

During the information acquisition stage, the Advisor must be aware of the following aspects of data collection [List 3] - -- aNSWERS----FP1 / Module 2 / Introduction to FP

[1] Implicit Data [2] Two-Way Process [3] Confidentiality

FP1 / Module 2 / Introduction to FP

One of the critical qualitative pieces of information that the Advisor needs to gather is a client's attitude towards _ _ _ _. _ _

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