BUSI352 Liberty UniversityQuiz 8 Complete Solutions Correct Answers Key

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Liberty University BUSI352Quiz 8 Complete Solutions Correct Answers KeyTwo versionsQuestion 1 Owen, a CFP® professional, works for a brokerage firm that requires any investmentproducts or loans offered to a client must be proprietary products of the brokerage firm. One ofOwen’s clients, “Dominic” that he has been providing financial planning services to for the past 10years asked Owen to recommend a loan. Owen is still engaged in the financial planning processwith this client. According to the CFP Code of Ethics, what action is Owen required to take?Question 2 William, a CFP® professional, has been working with his new client Cole. He hascompleted all required disclosures and provided all written documents required for a financialplanning engagement. Cole is 42, divorced, and has one child. William discussed Cole’s insurancecoveragefollowingathoroughreviewofCole’spoliciesandrecommendedColepurchaseadisability policy and additional term life insurance through his employer. William also performed aretirement needs analysis and developed an investment plan he believes will help Cole achieve hisgoals. While presenting the retirement and investment plan, Cole mentioned that he was rejectedfor the life insurance for medical reasons that he does not wish to discuss with William. To complywith the Practice Standards of the Code of Ethics, William should:Question 3 A grocery store puts chocolate chip cookies on sale, which increases the demand formilk. What are the two products?Question 4 During a period of recession/contraction, which of the following would be true? 1: Thesupply of goods and services would be decreasing. 2: Interest rates would be decreasing. 3:Unemployment would be increasing. 4: Inflation would be decreasing.Question 5 Which of the following is a fiscal policy tool used by Congress that influences themoney supply and interest rates?Question 6 The CFP Board’s Practice Standards are intended to:Question 7 Under the CFP Board’s Rules of Conduct, violations of the Rules of Conduct maysubject a certificant or registrant to discipline. Which of the following is true with respect to anysuch violations? 1: Discipline extends to the rights of registrants and certificants to use the CFPmarks. 2: The rules are designed to be a basis for legal liability to any third party. 3: The CFPBoard has the exclusive right to ensure that certificants and registrants meet and continue tomeet the CFP Board’s initial and ongoing certification requirements.

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