Bob is a CFP® professional. He recently met with a new client, Jack, that requests a needs analysis concerning Jack’s life insurance situation. Jack is 42 years old, married, and has 2 children he plan 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?

a. A written agreement for Bob’s services specifying on what terms the agreement can be terminated.

b. An accurate and understandable description of the compensation arrangements being offered, in writing.

c. A written summary of likely conflicts between the client and the certificant.

d. None of the above is required by the Code of Ethics.