True/False

1. A client typically seeks financial planning advice in areas deemed important to the financial planner.

2. Although there are many different solutions/options, the CFP typically recommends the best alternative (ie one) that maximizes the clients likelihood of achieving the their goal.

3. A financial plan always addresses risk management, financial statement analysis, tax planning, retirement planning, education planning and debt management.

4. Since financial planning is number/fact based, the clients attitudes, beliefs, and values rarely have to be taken into consideration.

5. The clients goal of providing a good education for their children is an example of an objective goal which often has to be discussed and modified into a more aspirational goal which can more easily be measured.

6. Once the financial plan is presented, monitoring progress is not critical since the selected alternatives are usually factual in nature and rarely change.

7. Simply stated, a fiduciary is required to always act in the best interest of their client, putting client needs and objectives ahead of the CFPs at all times.

8. Financial Planning, to some extent, is a form of counseling. The clients goals and actions are impacted by their upbringing and current stage in life. Their beliefs and behaviors often need to be treated in order to achieve their financial objectives.

9. Questionnaires are useful tools in gaining an understanding of the clients financial needs, goals, and priorities.

10. Understanding a clients cultural or religious background is important because of the impact on financial goals and the acceptability of alternative courses of actions.