Liberty University BUSI352 quiz 8 complete solutions correct answers A+ work

Liberty University BUSI352 quiz 8 complete solutions correct answers A+ work

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Question 1 Owen, a CFP® professional, works for a brokerage firm that requires any investment products or loans offered to a client must be proprietary products of the brokerage firm. One of Owen’s clients, “Dominic” that he has been providing financial planning services to for the past 10 years asked Owen to recommend a loan. Owen is still engaged in the financial planning process with this client. According to the CFP Code of Ethics, what action is Owen required to take?

Question 2 William, a CFP® professional, has been working with his new client Cole. He has completed all required disclosures and provided all written documents required for a financial planning engagement. Cole is 42, divorced, and has one child. William discussed Cole’s insurance coverage following a thorough review of Cole’s policies and recommended Cole purchase a disability policy and additional term life insurance through his employer. William also performed a retirement needs analysis and developed an investment plan he believes will help Cole achieve his goals. While presenting the retirement and investment plan, Cole mentioned that he was rejected for the life insurance for medical reasons that he does not wish to discuss with William. To comply with the Practice Standards of the Code of Ethics, William should:

Question 3 A grocery store puts chocolate chip cookies on sale, which increases the demand for milk. What are the two products?

Question 4 During a period of recession/contraction, which of the following would be true? 1: The supply of goods and services would be decreasing. 2: Interest rates would be decreasing. 3: Unemployment would be increasing. 4: Inflation would be decreasing.

Question 5 Which of the following is a fiscal policy tool used by Congress that influences the money supply and interest rates?

Question 6 The CFP Board’s Practice Standards are intended to:

Question 7 Under the CFP Board’s Rules of Conduct, violations of the Rules of Conduct may subject a certificant or registrant to discipline. Which of the following is true with respect to any such violations? 1: Discipline extends to the rights of registrants and certificants to use the CFP marks. 2: The rules are designed to be a basis for legal liability to any third party. 3: The CFP Board has the exclusive right to ensure that certificants and registrants meet and continue to meet the CFP Board’s initial and ongoing certification requirements.

Question 8 All of the following are examples of monetary policy except?

Question 9 If the price of a luxury car decreases by a small amount, and there is a significantly large increase in demand, what can be said about the demand?

Question 10 Due to a shortage in supply, the price of corn increases suddenly, causing a decrease in the demand for corn and an increase in the demand for carrots. Which term best describes the relationship between corn and carrots?

Question 11 Increasing inflation rates and increasing interest rates would be characteristic of:

Question 12 Rose is employed as a loan officer at a bank. Rose recently sat down and visited with her financial planner Julie, a CFP® professional. Rose was in need of cash and borrowed $15,000 from Julie. Based on Rule 3.7 of the CFP® Rules of Conduct (A certificant shall not lend money to a client.), which of the following statements is accurate?

Question 13 Which of the following is not specifically addressed in the CFP Board’s Standards of Professional Conduct?

Question 14 Low interest rates and high unemployment would be characteristic of what phase of the business cycle?

Question 15 Bob is a CFP® professional. He recently met with a new client, Jack, who requests a needs analysis concerning Jack’s life insurance situation. Jack is 42 years old, married, and has 2 children he plans to send to college. He wants Bob to evaluate how much and what type of insurance he should purchase. Which of the following is required to be provided to Jack according to the Code of Ethics?

The CFP board is a certification and standard-setting organization that

Which of the following is not part of the CFP Board's Standards of Professional Conduct?

Which of the following is not a principle in the Code of Ethics?

Which of the following best describes the intent behind the principles of the CFP Board's Code of Ethics?

Under the CFP Boards rules of Conduct, violations of the rules of conduct may subject a certificant or registrant to discipline. Which of the following is true with respect to any such violations?

Under the CFP Board's Rules of Conduct, which of the following are a category of rules within the CFP Boards Rules of Conduct?

The CFP Board's Practice Standards are intended to:

Which of the following are true with respect to the Practice Standards?

Which of the following does NOT apply to practice standard 500-2, which provides that the financial planning practitioner shall select appropriate products and services that are consistent with the client's _________.

Which of the following is true with respect to forms of discipline?

The commission may make the following decisions regarding a petition for reconsideration by a candidate for certification:

Which of the following is not a form of discipline under the Disciplinary Rules?

Which of the following definitions best defines a fiduciary under the CFP Board's Standards of Professional Conduct?

Which of the following is not specifically addressed in the CFP Board's Standards of Professional Conduct?

Bob, a CFP professional, has developed a comprehensive financial plan ofr his client, Sue. Based on the CFP board PRactice Standards which of the following should Bob do next?

According to practice standard 200-1 Determining a clients personal and Financial goals, needs and priories, which of the following ate necessary inputs to determine a client's goals?

Jill is a prospective client, recently approached Mike, a CFP professional with significant estate planning needs. Mike does not feel like he can adequately fulfill all of Jill's needs so he refers jill to a colleague who specializes in estate planning. According to the CFP code of Ethics, what principle did Mike Most clearly demonstrate?

Rose is employed as a loan officer at a bank. Rose recently sat down and visited with her financial planner Julie, a CFP professional. Rose was in need of cash and borrowed $15,000 from Kulie. Based on Rule 3.7 of the CFP rules of Conduct (A certificant shall not lend money to a client.), which of the following statements is accurate?