Professionalism in Financial Planning

What is a key characteristic of professionalism?

• Manual skills

• Commitment to high ethical standards

• Earning commissions

• Following only legal obligations

Ethics and professionalism are critical in which field?

• Engineering

• Medical

• Financial planning

• Architecture

In the client-planner relationship, whose interests should the planner prioritize?

• Their own interests

• Their supplier's interests

• The client's interests

• The bank's interests

What is a common ethical dilemma for financial planners?

• Recommending lower-cost products

• Offering commission-based products

• Focusing on long-term plans

• Keeping client information confidential

Which of the following is NOT a characteristic of a profession?

• High ethical standards

• Independence

• Altruism

• Low educational requirements

What does the RFP Code of Ethics emphasize?

• Profitability

• Integrity

• Reducing costs

• Marketing strategies

According to the RFP Code of Ethics, what should always come first?

• Planner's commissions

• Bank's interests

• Client's interests

• Government regulations

Which of the following is a violation of professionalism?

• Regular client check-ups

• Recommending products based on personal gain

• Completing client reports

• Attending continuous education seminars

What is the second step in the six-step financial planning process?

• Analyzing data

• Gathering relevant data and information

• Setting goals and priorities

• Executing the financial plan

Which step in the financial planning process involves analyzing information?

• Step 3

• Step 4

• Step 5

• Step 1