CFP Ethics Practice Test

A CFP certificant has obligations to which groups?

All of the above I, IV II, III, IV IV only

Correct Answer:

II, III, IV

Explanation:

The idea being tested is that a CFP certificant has duties to more than just the current client. Ethics in this field require considering multiple stakeholders to maintain trust in the financial planning profession. In practice, a certificant must weigh duties to prospective clients, to the profession, and to the public, not only to the individual who currently holds a plan. One of the listed groups in the item is not part of the obligation set described in this context, so the option that includes the second, third, and fourth groups best matches the standard expectations. The other choices either try to include all groups or narrow the duties to one area, which doesn’t fit the breadth of CFP obligations.

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