CFP Practice Questions - Certified Financial Planner Exam - CFP Practice Questions

Question 1

Under the CFP Board's Standards of Conduct, a CFP professional must act as a fiduciary when providing which of the following?

Only investment advice Only financial planning services Financial advice that covers financial planning, including all material terms of an engagement All financial advice, at all times when providing Financial Advice

Correct Answer:

All financial advice, at all times when providing Financial Advice

Question 2

A CFP professional discovers that a client has been engaging in money laundering. Under the CFP Board's Code of Ethics, what is the CFP professional's primary obligation?

Continue providing services while documenting concerns privately Report the activity to the CFP Board and consider reporting to appropriate authorities Immediately terminate the relationship without any further communication Confront the client and give them an opportunity to stop the behavior before taking action

Correct Answer:

Report the activity to the CFP Board and consider reporting to appropriate authorities

Question 3

Which of the following best describes the CFP Board's Duty of Loyalty?

The CFP professional must always recommend the lowest-cost product available The CFP professional must place the interests of the client above the interests of the CFP professional and the firm The CFP professional must never receive commissions from product sales The CFP professional must provide identical recommendations to all clients with similar net worth

Correct Answer:

The CFP professional must place the interests of the client above the interests of the CFP professional and the firm

Question 4

A CFP professional receives a complaint from a client alleging negligence. Under the CFP Board's disciplinary process, what is the first step after the complaint is filed?

The CFP professional's certification is immediately suspended pending investigation The CFP Board's Disciplinary and Ethics Commission conducts a formal hearing CFP Board staff conducts a preliminary investigation to determine if a potential violation occurred The complaint is forwarded directly to FINRA for review

Correct Answer:

CFP Board staff conducts a preliminary investigation to determine if a potential violation occurred

Question 5

Which of the following scenarios would most likely constitute a conflict of interest that a CFP professional must disclose to a client?

The CFP professional recommends a diversified portfolio of low-cost index funds The CFP professional's firm receives 12b-1 fees from a mutual fund family that the professional frequently recommends The CFP professional charges an hourly fee for financial planning services The CFP professional refers the client to an independent CPA for tax preparation

Correct Answer:

The CFP professional's firm receives 12b-1 fees from a mutual fund family that the professional frequently recommends

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About this Exam

Prepare with the CFP Practice Questions - Certified Financial Planner Exam practice quiz. This question bank includes 100 questions covering client, professional, insurance, years, and board. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CFP Practice Questions - Certified Financial Planner Exam

This practice set contains 100 questions from the matching question bank and focuses on client, professional, insurance, years, and board. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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CFP Practice Questions - Certified Financial Planner Exam

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