Question
1) Financial service professionals are expected to act in a highly ethical manner. Which of the following traits do the textbook authors suggest as important?
1) Financial service professionals are expected to act in a highly ethical manner.
Which of the following traits do the textbook authors suggest as important?
A.Put your clients interest before yours
B.Maintain honesty when dealing with your client
C.Listen and act in an empathic manner
D.All of these are traits of a highly ethical planner
2) Your clients, a young married couple with two children, just purchased a new home and would like to ensure that the mortgage will be paid in the event either of their deaths.Your recommendation is for them to purchase?
A.First-to-die term life
B.Second-to-die term life
C.Family income policy
D.Mortgage whole life
3) Which of the following is an example of the art of financial planning?
A.Interviewing the client to understand his or her goals and objectives
B.Determining the client's retirement needs
C.Calculating a prudent emergency fund amount
D.Deciding which qualified retirement plan would be met the clients objectives
E.Assessing how best to lower tax liabilities
4) What denotes the process of determining whether and how an individual can meet life goals through the proper management of financial resources?
A Financial Income
B Financial debt restructurin
C Financial planning
D Financial Management
5) Which of the following statements is true regarding a beneficiary of proceeds under a life insurance policy?
A.the owner of the policy cannot change the beneficiary designation of an irrevocable beneficiary without the beneficiarys written consen
B.Only the husband or wife can change the beneficiary if the beneficiary is a child
C.If the beneficiary is an irrevocable beneficiary and dies before the insured, his rights pass on to his heirs.
D.Divorce automatically results in a change of beneficiary.
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