True/False

1. The Securities and Exchange Commission is tasked with establishing professional and ethical standards that all CFPs must comply with.
2. Due Care requires the CFP to practice on in the areas where they are knowledgeable and skilled.
3. A CFP is a fiduciary requiring them to place the clients needs first at all times when providing either Financial Advice or Financial Planning.
4. If the client requests the CFP to integrate many financial aspects including the majority of their financial assets, the CFP will be required to follow the standards related to providing financial advice.
5. Financial Planning is a Process indicating once the financial plan is completed, the process begins again once any material assumption changes, causing the financial planning process to begin again at the Understand The Client starting point.
6. Under the Code of Ethics & Standards, if a CFP has a financial license revoked, they must notify the CFP Board. Similarly, if the CFP receives a CFP Public Discipline, the CFP must notify their employer.
7. The CFP must obtain 30 hours of continuing education every two years, the purpose of which is to keep the CFP up-to-date on various changes in the financial environment.
8. If the CFP Board finds the CFP acted inappropriately, they may issue a Private Censure, a written reproach sent to the CFP, or a Public Censure open to public review. In addition, the CFP License may be revoked or suspended.
9. The CFP Fitness Tests is comprised of various legal and professional requirements, all of which can be waived by the CFP Board.