Planning Beginner: Using Financial Planners

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Any financial planner will work with people of all income levels.
Choose wisely. There is only one correct answer.
False. A planner might prefer to work with people of high income levels or more moderate or lower income levels. This is why you should ask first.
2.
Whom of the following can you visit to receive financial planning?
Choose wisely. There is only one correct answer.
All of the above. PFSs, CFPs, and ChFCs can all offer you financial planning advice.
3.
If you are charged money for stocks that you buy from your financial planner who is also a licensed stockbroker, that charge is called _______.
Choose wisely. There is only one correct answer.
A commission. Commissions are charged when you buy or sell a stock.
4.
Investment advisers are registered at the national level only.
Choose wisely. There is only one correct answer.
False. They may be registered at the state level instead, depending upon the amount of assets they manage.
5.
The last part of the financial planning process is _______.
Choose wisely. There is only one correct answer.
Evaluating the success of your plan. Once the recommendations of your plan are carried out, the last step is to monitor it.