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1.
Investment advisers are registered at the national level only.
False. They may be registered at the state level instead, depending upon the amount of assets they manage.
2.
Whom of the following can you visit to receive financial planning?
All of the above. PFSs, CFPs, and ChFCs can all offer you financial planning advice.
3.
A financial planner might charge you both a fee and a commission.
True. Since fees and commissions compensate the planner for different services, some planners will charge both. It's good to ask how he or she charges.
4.
Financial planners who are compensated only by commissions are not objective, and their advice is not reliable.
False. Planners have an ethical obligation to give objective advice regardless of how they are compensated. However, to be clear about what you are paying, you should inquire about the method of compensation.
5.
At what point in the process of working with a financial planner do you establish the goals you are trying to meet?
In the beginning. Setting your goals must be done at the beginning. Otherwise, your planner won't know what kind of plan to craft.