1The anticipated impact of the Practice Standards is conside

1.The anticipated impact of the Practice Standards is considered and presented with the standards for all the following people, EXCEPT:

Public

CFP Board

Financial planning practitioner

D. Financial planning professional

2. A client’s net worth will increase if, other things being equal, all of the following changes occur during the given period of time, EXCEPT:

The client paid off credit card balances with cash from a checking account.

The client received a gift of a car from an uncle.

C.The client’s brother forgave a loan to the client.

D.The client failed to spend all of his or her salary and kept the remainder in a checking account.

3. Which of the following statements is correct concerning a CFP® professional’s obligations under the rules that relate to the Principle of Confidentiality?

A. If revealing confidential client information will not actually cause the client harm, then disclosure is allowed.

B. Confidential client information of a personal nature may not be disclosed, even with client consent.

Confidential client information may be disclosed without the client’s consent in order to establish a brokerage account as part of plan implementation.

D. No confidential client information may be revealed without the client’s consent.

4. Marsha has named her sister, Trudy, as the trustee of a special needs trust for Marsha’s only child, Noah. Which of the following are true regarding Trudy’s role as trustee?

I Trudy is a fiduciary to Marsha

II Trudy is a fiduciary to Noah

III Trudy must not engage in any self-dealing

IV Trudy must invest trust assets to both preserve them and make them productive

I and II only

II and III only

II, III, and IV only

I, II, III, and IV