WME Practice Questions - Wealth Management Essentials (WME) Exam

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A client has a steady salary but spends nearly all of it each month and has no emergency reserve. Before recommending any long-term investment strategy, the advisor should FIRST help the client:

Open a margin account to increase buying power Establish an emergency fund and improve monthly cash flow Buy a deferred annuity for retirement Maximize an RESP for a future child

Correct Answer:

Establish an emergency fund and improve monthly cash flow

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