Liberty University BUSI 352 quiz 1 complete solutions correct answers A+ work

Liberty University BUSI 352 quiz 1 complete solutions correct answers A+ work

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Question 1 Which of the following are components of “passive listening"? 1: Listening in a normal social setting, such as a sermon. 2: Communication rests on one speaker. 3: The listener screens out some information. 4: The listener is thinking about what to say in response, which hampers listening.

Question 2 You are a relatively new financial planner. You have been working for an investment firm in the United States and have decided that you would like to add more credibility to your practice. Which of the following professional credentials would provide you with the most credibility since it is the oldest and best known?

Question 3 Which of the following are NOT heuristics or cognitive biases discussed in this chapter that can lead to less than optimal decisions by a normal investor?

Question 4 After meeting with your new client, Sid, you prepared his current financial statements. Which part of the financial planning process were you engaged in?

Question 5 Which of the following are NOT components of “active listening?”

Question 6 Which of the following statements are true? 1: There has been a movement in recent times for the financial industry to be more in touch with psychology and sociology due to their effect and persuasiveness in financial matters. 2: There has been a movement in recent times for the financial industry to focus on asset prices and ignore psychology and sociology issues. 3: Behavioral Finance has nothing to do with issues concerning psychology and sociology.

Question 7 Which of the following is considered to be a counseling paradigm or school of thought?

Question 8 Steve Stein, a local CFP® practitioner, recently met with one of his new clients, Merrell. During the course of the meeting Steve did the following things. 1: Steve did not meet with Merrell until 10 minutes after the scheduled start time. 2: In order to establish Merrell’s confidence in him, Steve told Merrell the names of several well­known clients that currently do business with him. 3: Steve asked Merrell several questions regarding Merrell’s family situation, hobbies, and activities. Which of these actions would be considered inappropriate?

Question 9 Which of the following are important in nonverbal communication and behavior? 1: Body positioning 2: Body movement 3: Voice tone 4: Voice pitch

Question 10 Which of the following are theories or equations used in traditional finance? 1: Mean­Variance Theory 2: Modern Portfolio Theory 3: The Capital Asset Pricing Model

Question 11 Reverend Lola Pak, a prospective client, came to your office for the first time today. Which is the most appropriate way to greet her?

Question 12 It is very important that assumptions are not used in the financial planning process. The planner must only use facts.

Question 13 Roy Al Pain has been a client of yours for several years. During that time, Roy has been rude to both you and your staff on numerous occasions. He has used profanities in front of your staff and other clients, thrown things, and screamed at your staff. You have tired of working with Roy and want to terminate your relationship with him. Which of the following is true?

Question 14 Most clients have a good understanding of the objective factors that affect the financial climate, and a planner’s most important function is finding out what the client’s subjective wishes are.

Question 15 Which of the following is the best choice for Behavioral Finance?

Question 1

Most clients have a good understanding of the objective factors that affect the financial climate, and a planner’s most important function is finding out what the client’s subjective wishes are.

Question 2

Which of the following is considered to be a counseling paradigm or school of thought?

Question 3

Which of the following are theories or equations used in traditional finance?

1: Mean-Variance Theory

2: Modern Portfolio Theory

3: The Capital Asset Pricing Model

Question 4

Lisa Cooper recently came to your office for her second appointment after receiving your engagement letter. During the meeting, you collect several documents from her, including her prior year tax returns, estate planning documents, and investment statements and history. You also work with her on identifying her goals and objectives.  Which of the following is the next step in the financial planning process?

Question 5

Which of the following are consistent with the Humanistic Paradigm?

1: The majority of Humanistic theories view clients as experts on themselves.

2: The alliance between the counselor and client is extremely important for humanistic counselors and is the basis of the treatment or plan of action.

3: There needs to be a professional distance between the client and advisor where the advisor should stay close to discussing numbers and data with the client.

Question 6

Which schools of thought for counseling could an advisor combine?

Question 7

Which of the following is NOT true in communicating with a client?

Question 8

Which of the following are components of “passive listening"?

1: Listening in a normal social setting, such as a sermon.

2: Communication rests on one speaker.

3: The listener screens out some information.

4: The listener is thinking about what to say in response, which hampers listening.

Question 9

Which of the following are true about “why” questions?

1: While the “why” questions are tempting and may help understand the client’s motives, the “why” question may be ill-advised because it could have limited benefit for the client.

2: A “why” question could place the client in a position of having to justify what was done, and that could put the client in a defensive posture.

3: “Why” questions are always the best questions to ask.

Question 10

Which of the following are important in nonverbal communication and behavior?

1: Body positioning

2: Body movement

3: Voice tone

4: Voice pitch

Question 11

After meeting with your new client, Sid, you prepared his current financial statements. Which part of the financial planning process were you engaged in?

Question 12

Reverend Lola Pak, a prospective client, came to your office for the first time today. Which is the most appropriate way to greet her?

Question 13

Which of the following are NOT components of “active listening?”

Question 14

Which of the following choices are false as to open or closed questions?

Question 15

Which of the following is the best choice for Behavioral Finance?

Question 1

Which of the following is the best choice for Behavioral Finance?

Question 2

Which of the following are consistent with the Humanistic Paradigm?
1: The majority of Humanistic theories view clients as experts on themselves.
2: The alliance between the counselor and client is extremely important for humanistic counselors and is the basis of the treatment or plan of action.
3: There needs to be a professional distance between the client and advisor where the advisor should stay close to discussing numbers and data with the client.

Question 3

Which of the following are true about “why” questions?
1: While the “why” questions are tempting and may help understand the client’s motives, the “why” question may be ill-advised because it could have limited benefit for the client.
2: A “why” question could place the client in a position of having to justify what was done, and that could put the client in a defensive posture.
3: “Why” questions are always the best questions to ask.

Question 4

Roy Al Pain has been a client of yours for several years. During that time, Roy has been rude to both you and your staff on numerous occasions. He has used profanities in front of your staff and other clients, thrown things, and screamed at your staff. You have tired of working with Roy and want to terminate your relationship with him. Which of the following is true?

Question 5

Dustin Towns is a well-known financial planner in your area. His clients rave about how great he is and after meeting him, you understand why. While describing him to your friend Jim, Jim wanted to know what was so great about financial planners in general. You responded with the following statement “One of the most important qualities a professional financial planner brings to the client/planner relationship is: ________________.”

Question 6

Which of the following statements are true?
1: There has been a movement in recent times for the financial industry to be more in touch with psychology and sociology due to their effect and persuasiveness in financial matters.
2: There has been a movement in recent times for the financial industry to focus on asset prices and ignore psychology and sociology issues.
3: Behavioral Finance has nothing to do with issues concerning psychology and sociology.

Question 7

Which of the following are theories or equations used in traditional finance?
1: Mean-Variance Theory
2: Modern Portfolio Theory
3: The Capital Asset Pricing Model

Question 8

It is very important that assumptions are not used in the financial planning process. The planner must only use facts.

Question 9

Your client, Jed, engaged you to help him with his financial situation. During the course of your meetings, you sold Jed a $1,000,000 life insurance policy. Which part of the financial planning process were you engaged in?

Question 10

Which of the following are NOT heuristics or cognitive biases discussed in this chapter that can lead to less than optimal decisions by a normal investor?

Question 11

After meeting with your new client, Sid, you prepared his current financial statements. Which part of the financial planning process were you engaged in?

Question 12

Which of the following is considered to be a counseling paradigm or school of thought?

Question 13

Reverend Lola Pak, a prospective client, came to your office for the first time today. Which is the most appropriate way to greet her?

Question 14

Which of the following investors would apply in the realm of Behavioral Finance?

Question 15

Which of the following is NOT true in communicating with a client?

Question 1

Which of the following items of information is least likely to be obtained from your client during the data-gathering portion of the client meeting?

Question 2

Which of the following choices are false as to open or closed questions?

Question 3

Reverend Lola Pak, a prospective client, came to your office for the first time today. Which is the most appropriate way to greet her?

Question 4

Roy Al Pain has been a client of yours for several years. During that time, Roy has been rude to both you and your staff on numerous occasions. He has used profanities in front of your staff and other clients, thrown things, and screamed at your staff. You have tired of working with Roy and want to terminate your relationship with him. Which of the following is true?

Question 5

You are a relatively new financial planner. You have been working for an investment firm in the United States and have decided that you would like to add more credibility to your practice. Which of the following professional credentials would provide you with the most credibility since it is the oldest and best known?

Question 6

Which of the following is NOT true in communicating with a client?

Question 7

Which of the following are important in nonverbal communication and behavior?
1: Body positioning
2: Body movement
3: Voice tone
4: Voice pitch

Question 8

Which of the following is considered to be a counseling paradigm or school of thought?

Question 9

Which of the following is NOT a premise in Traditional Finance?

Question 10

Which schools of thought for counseling could an advisor combine?

Question 11

Which of the following are NOT heuristics or cognitive biases discussed in this chapter that can lead to less than optimal decisions by a normal investor?

Question 12

Which of the following are components of “passive listening"?
1: Listening in a normal social setting, such as a sermon.
2: Communication rests on one speaker.
3: The listener screens out some information.
4: The listener is thinking about what to say in response, which hampers listening.

Question 13

Which of the following are NOT components of “active listening?”

Question 14

After meeting with your new client, Sid, you prepared his current financial statements. Which part of the financial planning process were you engaged in?

Question 15

Steve Stein, a local CFP® practitioner, recently met with one of his new clients, Merrell. During the course of the meeting Steve did the following things.
1: Steve did not meet with Merrell until 10 minutes after the scheduled start time.
2: In order to establish Merrell’s confidence in him, Steve told Merrell the names of several well-known clients that currently do business with him.
3: Steve asked Merrell several questions regarding Merrell’s family situation, hobbies, and activities.
Which of these actions would be considered inappropriate?

Which of the following is/are basic premises in Behavioral Finance?

1.      Investors are normal

2.      Markets are inefficient

3.      The Behavioral Asset Pricing Model applies